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Annual statement

 

Why has this been sent to me?

Your annual statement provides a summary and details of the transactions on your account for the period shown on the statement.

Interest shown on your statement

You're charged interest from the day your first payment is made until your loan is repaid in full or cancelled. The interest rate is based on the UK Retail Price Index (RPI) and can vary depending on your loan plan type and your circumstances. You can find your loan plan type on your statement.

For more information about the interest rate that applies to your loan visit these pages:

When are statements issued?

We issue a statement to you shortly after HM Revenue & Customs notify us about any repayments you have made during the previous tax year.

We are normally notified of your repayments once a year, after the end of the tax year. the time of the year that we receive this notification can vary from year to year which means you may not receive a statement from us annually.

Why aren’t they issued more frequently?

We can only issue a statement to you once we receive notification about your repayments from HM Revenue & Customs.

Why does my statement show the wrong amount of repayment?

This usually happens if you have more than one employer in the tax year. Once HM Revenue & Customs send us your updated tax year information, including student loan deductions from any additional employers, we will adjust your balance and send you a new statement.

If you only had one employer during the tax year, please contact us and have your P60 from the relevant tax year to hand.

Why have I received a statement showing an outstanding balance when I have paid my loan off in full?

You should check the period shown on the statement. If you paid your loan off in full after this period it will show on your next statement.

Can I obtain a historical record of my statements?

Yes, if you'd like to obtain a statement for a previous financial year or over a longer period, then contact us on: 0300 100 0611 (Mon to Fri 8am – 8pm or Sat 9am – 4pm).

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