Student Loans

Student Loans Company

Student Loans Company is a public institution and a part of the United Kingdom government that takes care of the financial support needed by university students. The loans provided in this system have a low inflation rate, with programs regulating that repayment should begin only when the student has an income that exceeds a certain pre-established threshold. This is 15,000 pounds at present.

The Student Loans Company was founded in 1990, and ever since it has contributed to an increase of the educational level of British students. The headquarters of the Student Loans Company is at Glasgow, Scotland, and at present, it seems that the company has more requests for loans than the employees can handle. A study conducted at the beginning of the 2009-2010 academic year shows that there are too few workers handling the applications which has led to a very unpleasant situation for both students and universities.

There are three types of service packages that students can access through Student Loans Company: tuition fee support, maintenance support and targeted support. For eligible students, the Company makes the fee and tuition payments directly at all the colleges in England, Northern Ireland, Wales, Scotland and the European Union. The repayment system is organized according to a collection system known as the Income Contingent Repayment.

Besides acting as a borrower, Student Loans Company is also in charge of scholarships and grants provided on the basis of eligibility criteria. Scholarships are just of the three types of awards granted by the government, and the other two are discretionary bursaries and mandatory bursaries. These extra souces of financial aid act as gifts and they do not have to be repayed. They function as additions to awarded grants or student loans.

The Student Loans Company has already announced changes for the 2010-2011 academic year. Thus the coverage for tuition fees and part time courses will register a 2.4% increase, while the living and support rates are predicted to remain the same. If students choose to go for higher forms of college education, the Student Loans Company can provide a quote of the estimated support instead of a future support guarantee.

You can check all the terms and conditions as well as the programs conducted by the Student Loans Company on the official website of the organization. You can also inquire about the application forms and the eligibility criteria and also get a cost analysis with the help of the online calculator tools.

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