You can also update or change your application at any time, if your circumstances change, such as your course, your university or college, your household income, or your personal details. You should notify the SLC as soon as possible, and provide any evidence or documents that are required to support your changes.
How do you receive and manage your loans and grants from the SLC?
To receive and manage your loans and grants from the SLC, you need to follow these steps:
- Register with your university or college, and confirm your attendance and enrolment at the start of each term
- Wait for the SLC to pay your Tuition Fee Loan directly to your university or college, and your Maintenance Loan and any grants or bursaries directly to your bank account, at the start of each term
- Sign in to your online account on the SLC website or the relevant government website, and check your balance, payments, interest, and statements
- Keep your contact details and bank details up to date, and inform the SLC of any changes to your circumstances, such as your course, your university or college, your income, or your personal details
- Contact the SLC if you have any questions or problems with your loans and grants, or if you need any information or guidance on student finance
You should also keep track of your spending and budgeting, and make sure that you have enough money to cover your living costs and other expenses while you study. You can use the online tools and resources on the SLC website or the relevant government website to help you plan and manage your money.
How do you repay your loans and grants from the SLC?
To repay your loans and grants from the SLC, you need to follow these steps:
- Check your repayment plan, which determines how much you repay, when you repay, and how you repay
- Start repaying your loans when you finish or leave your course, and when your income is above the repayment threshold for your repayment plan
- Repay your loans through the tax system, if you are employed in the UK, or directly to the SLC, if you are self-employed, work overseas, or want to make extra payments
- Check your repayments, balance, and interest on your online account, and keep your contact details and income details up to date
- Contact the SLC if you have any questions or problems with your repayments, or if you need any information or guidance on student finance
You should also be aware of your rights and responsibilities as a borrower, such as:
- You only repay what you owe, and any interest and charges that are applied to your loans
- You can repay your loans early, in full or in part, without any penalties or fees
- You can apply for a refund, if you have overpaid your loans or paid when you did not have to
- You can apply for a cancellation, deferment, or suspension of your repayments, if you meet certain criteria, such as disability, illness, or low income
- You can complain or appeal, if you are unhappy with the service or decision of the SLC or its partners
The Student Loans Company is a vital organisation that helps millions of students in the UK to access and afford higher and further education. Whether you are a prospective, current, or former student, you should know how the SLC works, and how it can help you with your student finance.
