The Student Finance helpline can be contacted by phone: Open Monday-Friday – 8:00 AM-8:00 PM and Saturday-Sunday 9:00 AM-4:00 PM.
Student Finance Company Helpline Hours
The Student Finance Company team is available to take your call Monday-Friday – 8:00 AM-8:00 PM and Saturday-Sunday 9:00 AM-4:00 PM. Holiday help hours may vary.
|Monday||8:00 AM||8:00 PM|
|Tuesday||8:00 AM||8:00 PM|
|Wednesday||8:00 AM||8:00 PM|
|Thursday||8:00 AM||8:00 PM|
|Friday||8:00 AM||8:00 PM|
|Saturday||9:00 AM||4:00 PM|
|Sunday||9:00 AM||4:00 PM|
About Student Finance
If you’re planning to go to University in the United Kingdom, or if you are already a student and returning for another year, then chances are that you’ll have some sort of dealings with the Student Loan Company, who operate all of the student finance loans across the country.
A public body set up by the government, SLC will enable you to borrow money (reference) to help with either tuition fees to pay the university, or maintenance costs paid directly to you to help with living expenses. They also distribute maintenance grants and bursaries, which is money you do not have to pay back.
Student Finance Eligibility
Your eligibility for it depends on a number of different factors, including the university or college you are attending, as well as your course, your age and nationality. It will also depend on whether or not you’ve studied a higher education course before or not.
To speak to the their team about your application, we recommend that you give the contact centre team a call. You can do so on the number above, which will connect you to their customer services.
Student Finance Repayments
Once you’re in full-time or even part-time employment, you will begin to start paying back the loan by contributions deducted straight from your salary or wages. The amount of your monthly payments will depend on how much income you are earning, rather than how much money you borrowed. Interest begins accruing from the day you take out the student loan.
It’s important to know you will still have to repay your student loan even if you drop out or fail to complete your course.
If you took out a student loan before the 1st September 2012, you may have to pay back 9% of any income over £17,495 this tax year. This amount may change in the next tax year and every year after that.
If you took out a student loan after the 1st September 2012, you might pay back 9% of your income over £21,000 each month.
It’s important to remember that whilst the Student Loans Company may take the payments directly from your payslip, they are extremely slow in calculating how much left you have to pay off of your loan.
As a result, it’s highly recommended you keep hold of your P60 end-of-year payslips in case you ever need to claim back a refund.
Student Finance Company Repayment Calculator
Student Loans Company offer an online website that will let you log in with your customer number. You will then be able to enter the amounts you paid each month into the website and they will calculate how much you have left based on this.
If you don’t have your customer number (formerly ART id) then you will need to either wait for your yearly statement in the post, or give the Student Loans Company a call on the telephone number at the top of the page.