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Government policy on student finance is set by the Department for Business, Innovation and Skills (for England) and the Education Departments of Scotland, Wales and Northern Ireland.
It is 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, 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). Find out more on how student loans are repaid, write-off terms, loan cancellation and how the interest rate is applied to a loan.
delivered by the Student Loans Company