Government policy on student finance is set by the Department for Education (for England) and the Education Departments of Scotland, Wales and Northern Ireland.

At Student Loans Company it is our responsibility to undertake the administration and processing involved in both the payment of loans and grants to students, and the payment of tuition fees to higher and further education institutions. In doing so, we provide a broad range of products and services to education funding in the United Kingdom and European Union.

Managing the repayment of student loans is a responsibility shared with Her Majesty's Revenue & Customs (HMRC). We undertake loan account maintenance and communication with customers, while collection of repayments owed is undertaken by HMRC through the PAYE process.

The system of collection is known as Income Contingent Repayment (ICR).

You can find more on how student loans are repaid, write-off terms, loan cancellation and how the interest rate is applied to a loan.