2011 News Releases
16 August 2011
SLC response to media stories on student loan
overpayments
The company is currently processing applications to ensure
students get funding at the start of term. The deadline dates for
student finance applications were in May and June.
For another 18% (166,000 as at 31 August), the Student Loans
Company has done all we can to get these applications prepared for
payment and are either awaiting a signed declaration form or
further evidence. We have been regularly prompting students and
sponsors to send us these details.
Application statistics for 31 August (published 8 September) can
be found:
For press enquiries please contact SLC press office:
Notes to editors
- Student Finance England is part of the Student Loans Company, a
non-profit public sector organisation owned by the Department for
Business Innovation and Skills and Scottish Ministers. The company
supports students by paying loans and non-repayable grants for
living costs and tuition fees.
- Last year we paid more than £5.5 billion in student loans and
grants to 1.3 million customers. And we paid £2.7 billion in
tuition fees directly to universities and colleges on behalf of
customers.
- The deadline dates for student finance applications were: 31
May for new students and 30 June for returning students.
- Not all applicants will ever reach payment stage as some may
not be granted a university place or decide not to attend. Some
applicants do not fully complete their form or send in further
evidence in these cases. Last year more than 125,000 submitted
applications for student finance were not progressed by
applicants.
- The number processed weekly varies depending on the number that
are straightforward and those that go through automatically.
- We are keeping students and sponsors updated regularly with the
details we are working on and running daily student finance
surgeries on Facebook and Twitter to help guide them through the
application process. Follow Student Finance England at facebook.com/SFEngland and twitter.com/sf_england
16 August 2011
Interest rate announcement - 16 August 2011
'Income contingent' loans (taken out after 1998)
The interest rate on income contingent loans will be 1.5% from 1
September 2011 across the UK.
Between 1 September 2011 and 31 August 2012, the interest rate
may change because it is linked to the rates charged by high street
banks. The rate will be the lower of the Retail Price Index in
March 2011, or 1% above the highest base rate of a nominated group
of banks. As March's RPI was 5.3%, the maximum rate of interest you
may be charged between 1 September 2011 and 31 August 2012 is
5.3%.
This rate applies to all income contingent loan customers
including students currently studying at university or college.
Customers will be able to monitor the rate of interest on this
SLC website and www.direct.gov.uk/studentfinance
and should check the rate on a monthly basis, particularly if there
is a change in the Bank of England base rate.
'Mortgage style' loans (taken out before 1998)
The interest rate on 'mortgage style' loans will be 5.3% from 1
September 2011 to 31 August 2012 as interest is linked solely to
the RPI.
This rate applies to all mortgage style loans. If you also have
an income contingent loan, please see the section on Income
contingent loans. From 1 September 2011, the deferment threshold
for mortgage style loans will be £27,734.
If you have a Mortgage Style loan and you have a gross monthly
income of £2,311 or less (equivalent to £27,734 per year) you may
be eligible to apply for deferment.
Need more information?
Income contingent loans:
Mortgage style loans:
16 August 2011
Student Finance England social media
surgeries
Our customer advisers are on Twitter and Facebook every weekday
answering your general student finance queries. Our timetable is
included below.
To take part, students should follow Student Finance England on
Facebook and Twitter facebook.com/SFEngland
and twitter.com/sf_england
and post questions during the designated time slots for a real-time
response.
Note: Customers with queries relating to their
specific accounts should call us on 0845 300 50 90. Social
networking forums are public and students should not disclose
personal or financial details on these sites.
| Day |
Opening Hours |
Support |
| Monday |
1-4pm |
General Student Finance |
| Tuesday |
3-6pm |
General Student Finance |
| Wednesday |
1-4pm |
General Student Finance |
| Thursday |
3-6pm |
General Student Finance |
| Friday |
1-3pm |
General Student Finance |
11 August 2011
Student Loans Company: The latest and largest public
body to fight fraud through CIFAS
The SLC provides loans and grants to over one million students
annually, in colleges and universities across the four education
systems of England, Northern Ireland, Scotland and Wales. It is
also responsible for repayments by 3 million former students. By
joining CIFAS, the SLC will be able to screen out false identities
and by searching the CIFAS National Fraud Database double-check
whether an applicant has committed fraud in the past.
In addition, where SLC's own fraud prevention professionals have
identified a fraudulent application, they will be able to record
that case on the National Fraud Database, helping over 250 Member
organisations to prevent any further fraud committed by the same
individual. During the past five years, CIFAS Member organisations
have prevented over £4.1 billion of attempted fraud by sharing
information in this way.
The SLC's membership of CIFAS follows the Legal Services
Commission and Financial Services Authority both of which have
joined CIFAS since 2010.
Welcoming the SLC's membership, CIFAS Chief Executive, Peter
Hurst, said: "We look forward to working with the SLC which is the
largest public sector provider of loans. There will be a strong
deterrent effect as all our research suggests that fraudsters
target both private and public sector organisations not
participating in CIFAS far more than those who are Members."
Heather Laing, Fraud Prevention and Detection Manager at the
Student Loans Company, said: "As a government organisation, we have
an obligation to ensure that student funds are paid to all eligible
students. We have joined CIFAS to allow us to exchange fraudulent
applicant data to help prevent fraud. Investing in fraud prevention
activity offers the opportunity to protect student funds, without
reducing services to genuine applicants".
09 August 2011
Student Finance applications on track for term
start
The company is currently processing applications to ensure
students get funding at the start of term. The deadline dates for
student finance applications were in May and June.
For another 18% (166,000 as at 31 August), the Student Loans
Company has done all we can to get these applications prepared for
payment and are either awaiting a signed declaration form or
further evidence. We have been regularly prompting students and
sponsors to send us these details.
Application statistics for 31 August (published 8 September) can
be found:
For press enquiries please contact SLC press office:
Notes to editors
- Student Finance England is part of the Student Loans Company, a
non-profit public sector organisation owned by the Department for
Business Innovation and Skills and Scottish Ministers. The company
supports students by paying loans and non-repayable grants for
living costs and tuition fees.
- Last year we paid more than £5.5 billion in student loans and
grants to 1.3 million customers. And we paid £2.7 billion in
tuition fees directly to universities and colleges on behalf of
customers.
- The deadline dates for student finance applications were: 31
May for new students and 30 June for returning students.
- Not all applicants will ever reach payment stage as some may
not be granted a university place or decide not to attend. Some
applicants do not fully complete their form or send in further
evidence in these cases. Last year more than 125,000 submitted
applications for student finance were not progressed by
applicants.
- The number processed weekly varies depending on the number that
are straightforward and those that go through automatically.
- We are keeping students and sponsors updated regularly with the
details we are working on and running daily student finance
surgeries on Facebook and Twitter to help guide them through the
application process. Follow Student Finance England at facebook.com/SFEngland and twitter.com/sf_england
03 August 2011
SLC response to media stories on student loan
overpayments
We have been taking action to prevent this from happening. In
2009, we introduced a direct debit scheme which allowed eligible
customers in the last two years of repayment to step out of the tax
system and repay the remainder of their loan by Direct Debit.
We have contacted 106,000 customers since the scheme began to
advise them that this option is available to them and 34,000 have
either done so or arranged to pay their loans off in full. We do
recommend that former students keep track of their balance and
repayments by logging on to www.studentloanrepayment.co.uk.
If you are within two years of completing your repayments, you
can switch to our Direct Debit scheme and we can make sure your
repayments stop at exactly the right time.
If you think you are due to complete your repayments within two
years but haven't heard from us, you can get in touch on 0845 0738
891.
20 May 2011
Apprentices learn the ropes at Student Loans
Company
The Student Loans Company (SLC) has given 13 young apprentices
the opportunity to step onto the career ladder by learning the
ropes of customer service and administrative work at its offices at
Lingfield Point, Darlington.
Alongside on the job training by the not-for-profit
organisation, which provides loans and grants for students at
university, the apprentices will also gain an NVQ Level 2 in
business administration through Darlington College.
Skills Minister John Hayes said:
"I congratulate both the Student Loans Company and its
new apprentices. Apprenticeships are at the heart of the
Government's plan to improve the nation's skills and help young
people get ahead. This year alone we've committed to funding more
than 360,000 places - and with higher standards than ever before,
every apprenticeship is an opportunity to build a successful
career".
Joanne Harrison, human resources manager for the Student
Loans Company said: "Our organisation is very keen to help young
people gain experience in a working environment whilst also
studying for vital qualifications.
Darlington is the first of our Student Loans Company sites to
take on apprentices, in partnership with Darlington College, and we
hope that following their success we will be able to roll out the
scheme to our Glasgow office as well.
There is a major drive to boost the number of apprentices
nationwide at the moment and we are in an excellent position to
help these young people get an understanding of the world of
work."
The Student Loans Company is looking to continue its work with
Darlington College to take on a further intake of apprentices in
the summer.
Kelly-Anne Quinn, 18, of Newton Aycliffe, said: "Being able to
get practical experience in a real working environment, backed up
with a recognised qualification, is a massive benefit and will
enable me to offer so much more to a potential employer.
We have really gelled well together as a group and with the
other staff here at The Student Loans Company, and I've already
picked up loads of useful skills that you just can't learn in the
classroom."
Principal of Darlington College Tim Grant added: "There has
never been a better time to start an apprenticeship.
Our students get relevant industry standard work experience, at
the same time as obtaining skills, knowledge and qualifications for
the workplace."
17 May 2011
Student Loans Contact Centre awarded 'Global Standard'
accreditation
The contact centre at the Company's headquarters in Glasgow
passed its British Standards Institute audit with flying colours
and achieved a newly upgraded accreditation from the Contact Centre
Association of 'Global Standard'.
The Student Loans Company employs over 200 call centre staff in
Glasgow, who are on hand seven days a week to help students and
graduates across the UK with questions about financial support and
student loan repayment.
The Student Loans Company was assessed against eight key
business principles of the CCA Global Standard including Customer
Focus and Performance and Operational Effectiveness.
David Thomson, Head of Contact Services at the Student Loans
Company, said:
"We are delighted to have been accredited at this high level for
our contact centre operations.
"We continuously strive to improve our service for our student
and graduate customers and are pleased that the hard work and
dedication of our staff has been acknowledged."
06 May 2011
SLC runs regional social media surgaries ahead of
application deadline dates
Advisors will be on hand at dedicated time slots for each region
to give real-time advice to those going to university this autumn,
ahead of the application deadline dates.
To ensure students have their funding in place at the start of
term, new students should apply for finance by 31 May and returning
students should submit their applications by 30 June.
Student Finance England is part of the Student Loans Company and
administers the entire student application process for students in
England, from processing to payment. Student Finance England
operates regular student finance surgeries on Facebook and Twitter
for students and their sponsors.
Processing Manager Andy Topham said:
"We want to encourage all students to join our student finance
surgeries on their designated days and our experienced customer
advisors will help with any questions they have relating to their
application or evidence, ahead of the application deadline
dates.
"Our contact centres are open every day but many students prefer
to use social media channels to ask questions and get real-time
answers."
The regional surgeries will take place:
Yorkshire & Humber: 4-6pm on Thursday 12/19 May
East Midlands: 1-3pm on Friday 13/20 May
London: 1-3pm on 23/25 May
North West: 1-3pm on Monday 9/16 May
South West: 4-6pm on Tuesday 10/17 May
West Midlands: 1-3pm on Wednesday 11 / 18 May
North East: 4-6pm on Tue 24/ Thu 26 May
South East: Thu 12/ 19 May 2-4pm
East: Tue 10/17 May 2-4pm
To take part, students should follow Student Finance England on
Facebook and Twitter facebook.com/SFEngland and twitter.com/sf_england and post
questions during the designated time slots for a real-time
response.
Note: Our customer advisors will help where possible but social
networking forums are public and students should not disclose
personal or financial details on these sites.
For press enquiries, please contact the Student Loans Company
Press Office: 0141 306 2120 / press_office@slc.co.uk
Notes to Editor:
New students: Applying for your student
loan
If you're starting university or college in autumn 2011, click
here for answers to some questions you may have about applying for
your student loan: New Students Q&A
(Word doc 284kB) .
Returning students: Applying for your student
loan
If you're a full-time student and are going back to university
or college in autumn 2011, click here for answers to some questions
you may have about applying for your student loan: Returning
Students Q&A (Word doc 375kB).
The Student Loans Company is responsible for:
Paying grants and loans to eligible students
Paying tuition fees to universities and colleges in England,
Wales and Northern Ireland
Administering the payment of bursaries and scholarships on
behalf of universities and colleges throughout the UK
Working with HMRC to collect payments for income contingent
loans
Managing the direct collection of payments for mortgage style
loans
Managing the establishment of Student Finance England and the
transition of responsibility for all student loan applications in
England to Student Finance England
05 April 2011
Students warned: Scammers trying to steal
loans
Fraudulent emails are being sent to students asking for personal
or bank details. The Student Loans Company wants students to know
that they will never request these details by email.
The number of students revealing their details to the scammers
has more than tripled in the last year and the emails are rife in
April and May, as fraudsters know students are due to receive their
final funds for the academic year.
The Company has partnered with 'Get Safe Online' to produce a
'phishing guide' and top tips to promote online student safety and
protection against scam emails.
Student Loans Company's Security Manager Robert Hurt, said:
"We are aware that some students are being affected by these
scam emails and we want to ensure that they do not respond to
these.
"We monitor this issue very closely and aim to close phishing
sites down as soon as students alert us to them, to protect other
students.
"Students need to work with us to ensure their identity and
financial details are protected and not compromised."
The Student Loans Company was recently alerted to a phishing
scam which affected around 50 students from Sheffield Hallam
university. We are working with the University to investigate the
extent of this and the police have been informed.
Student Loans Company's phishing guide, top tips and details on
what to do if you receive a suspicious email can be found at:
http://bit.ly/e3E2xT
Student Loans Company's Top Five Tips to Avoid Phishing:
- Be suspicious of any urgent requests for personal or financial
information.
- Be aware: Phishing scams are common at the three main
instalment payment dates in September, January and April.
- Always ensure that you're using a secure web site when
submitting credit card or other sensitive information; look out for
"https://" and/or the security lock.
- Prevention: Your email details may have been taken from a
social networking site so avoid disclosing your email address or
make sure you hide it on your page.
- Check the quality of the communication. Misspelling, poor
punctuation and bad grammar are often tell-tale signs of
phishing.
The Student Loans Company will:
- Never ask to update your bank details
- Never ask you to verify your account details
- Never ask you to click a link, always type the address
yourself: www.direct.gov.uk/studentfinance
- Never ask you to answer combinations on the same screen i.e
Your Customer Reference Number and Password on the same screen
- Never provide you with a choice of secret questions. We will
only ever ask you the question you gave us.
- Never ask you to update items such as date of birth or provide
your email address password.
For press enquiries, please contact the Student Loans Company
Press Office: 0141 306 2120
01 April 2011
Statement from the Student Loans Company
Students at Sheffield Hallam University have alerted us to a
phishing scam which may have resulted in their personal details
being accessed by a third party. We are working with the University
to investigate the extent of this and the police have been
informed.
To ensure that we minimise the risk of further incidents, we
have put in place additional security measures.
We understand the University has put in place support measures
that will assist any student who may be at risk of financial
hardship as a result of this.
We are still investigating the situation, but it looks as though
around 50 students may be affected.
14 March 2011
Students are savvy with trading and saving
Students are becoming more imaginative when it comes to making
and managing their money, a survey published today by the Student
Loans Company (SLC) reveals.
The survey found that girls are the shrewdest savers, spending
nearly £1,500 less than boys a year on university life - as they
say they are more likely to search for the best prices.
11 March 2011
David Willetts appoints new Student
The Minister of State for Universities and Science, David
Willetts, announced today the appointment of Professor Glynis
Breakwell as a new non-executive director of the Student Loans
Company.
14 February 2011
Student Finance 2011/12 application cycle launches for
returning students
The Student Loans Company is urging returning students to apply
now to make sure they get their money in time for the start of the
next academic year.
11 February 2011
Minister encourages graduates to take up Student Loans
Company Direct Debit Scheme during headquarters visit
Universities Minister David Willetts visited the Student Loans
Company headquarters in Glasgow today to listen to some calls from
graduates and meet staff as part of a higher education trip to
Scotland.
27 January 2011
SLC response to the National Fraud Authority report,
published today
Fraud is unacceptable and the Student Loans Company is active in
combatting student finance fraud. We welcome the recognition of
this in the Annual Fraud Indicator report.
2010 News Releases
23 December 2010
Student Loans Company Chief Executive
appointed
The Student Loans Company today announced the appointment of Ed
Lester as its Chief Executive. Mr Lester has been interim Chief
Executive since May 2010.
15 December 2010
SLC appoints Marketing and Communications
Director
CIPR Fellow and UK Board Member Jenifer Stirton joins Student
Loans Company.
21 October 2010
Statistics update from Student Finance England on the
processing of student applications as of 14 October
"Student Finance England is pleased to confirm that as of 14th
October, 90 per cent (866,000) of student applications had been
prepared for payment and the majority of students have now been
paid. Around 10,000 students have applied recently in the two weeks
of processing between 30th September and 14th October.
07 October 2010
Statement from Student Finance England on application
processing statistics from 30 September
"Student Finance England is pleased to confirm that by 30th
September, we had prepared 814,000 applications for payment and the
majority of students had been paid or were ready to be paid once
they registered at university.
21 September 2010
Scam Emails Targeting Vulnerable Students
Students across England are at an increased risk of being
targeted by scammers using 'phishing' emails at the start of
term.
30 August 2010
Student Finance England Progress Update
We would like to assure students that processing at Student
Finance England is going well this year.
26 August 2010
Interest Rate Announcement
'Income contingent' loans (taken out after 1998)
The interest rate on income contingent loans will be 1.5% from 1
September 2010 across the UK.
22 June 2010
Statistics Published
National Statistics: There is one statistical series for Student
Support awards (loan rates, loan take up, grants awarded, etc) on
an academic year basis.
17 June 2010
Press Release
David Willets visits Student Loans Company.
Download the
full press release (PDF 156kB)
01 June 2010
Press Release
Business Secretary and NUS President Elect Visit Student Loans
Company.
Download the
full press release (PDF 52kB)
28 May 2010
Press Release
Ed Lester appointed Interim Chief Executive
Download the
full press release (PDF 26.2kB)
25 May 2010
Press Release
The Student Loans Company (SLC) has today announced that its
Chairman John Goodfellow has stood down and its Chief Executive
Ralph Seymour Jackson has resigned from the company.
Download the
full press release (PDF 27kB)
12 May 2010
Change of Government
The Student Loans Company would like to reassure customers that
the change of government will not have an impact on current student
funding arrangements. Students should apply for finance as normal
and funding entitlement will not change for 2010/11.
19 March 2010
SLC Response to National Audit Office
Report
Response to National Audit Office report
February 2010
UCAS Conventions
UCAS Convention kicks off at the National Hall in London from
3rd-5th March.
February 2010
Increase in University Applications
Student Finance England Responds to increase in university
applications.
04 February 2010
Latest Figures
Latest figures from Student Finance England announced.
03 February 2010
Disabled Allowances Issues
"There are longstanding arrangements which ensure that
universities and colleges are able to support students if their
application for DSAs was made late or there has been a delay in
processing
10 December 2009
Latest Figures
We have received 2,000 applications between 29 November and 6
December 2009.
08 December 2009
Press Release
Letter from John Goodfellow, Chairman, Student Loans Company to
Rt Hon David Lammy MP.
Letter from John Goodfellow to Rt Hon David Lammy MP - PDF
(35.9kB)
03 December 2009
Latest Figures
Ralph Seymour-Jackson, Chief Executive of the Student Loans
Company, said.
18 November 2010
Response to BBC Survey
"We would like to thank all the universities who have worked so
hard in providing support for those students who have had problems
with their finance.
10 November 2010
Latest Figures
Target has been met and making continued good progress on late
applications.
03 November 2010
Latest Figures
The Student Loans Company announced today that a further 25,000
English-domiciled students have been paid from 18 - 25 October.
27 October 2010
Latest Figures
We are very sorry that some students have had difficulties with
their student finance applications this year and we are working
very hard to resolve those issues as quickly as possible.
20 October 2009
Press Release
The Student Loans Company is reassuring applicants that it is
working hard to get students their money and apologises to students
who have experienced difficulties with their applications.