It is the Student Loans Company's role to undertake the
administration and processing involved in the payment of loans and
grants to students, and the payment of tuition fees to higher and
further education institutions. In doing so, the Student Loans
Company provides a broad range of products and services to
education funding in the UK and EU.
Repayment of student loans is a shared responsibility between
SLC and Her Majesty's
Revenue & Customs (HMRC). We undertake account maintenance
and communication with borrowers in repayment, and collection is
undertaken by HMRC through the PAYE process.
The system of collection is known as Income Contingent Repayment (ICR).
Repayments on loans issued before 1998 are not collected by HMRC;
instead they are collected directly by SLC by direct debit and are
known as fixed-term repayments.
more on how student loans are repaid, write-off terms, loan
cancellation and how the interest rate is applied to a loan.