Latest News

Thinking of starting a course in 09/10?

Please note: applications for courses starting from September 2009 are not yet available.  You will be able to apply early in 2009.

Interest Rate Reduction for Income Contingent Loans

The interest rate payable on income based student loans has been reduced following the latest change to the Bank of England rate to 2% on Thursday 4th December. The new rate for income based student loans is 3% effective from the 5th of December until further notice. Interest is applied to loans from the date they are paid to you until they are repaid in full.

Why has it changed?

Student loans are not like commercial loans. They are subsidised by Government and attract a low cost interest rate. This interest rate is based on the annual March retail price index (RPI) or the highest base rate of a number of major banks plus 1%; whichever is lower.

To date, the RPI has always been the lower of the two. The reduced bank base rate plus 1% is now lower than the March 2008 RPI so we have presently adjusted the student loan rate to 3%.

Where you can get more information:

Student Loan Repayment Website

Important information if you have recently changed your bank details.

Please login to your account and enter your new bank details as soon as possible.  This will allow us to pay your next Student Finance instalment to the correct account

Support your child or partner online

If you are the parent or partner of a student, you can support their application for finance using our online service.

For information, you can download our Step-by step guide to supporting a student online or watch our online demo

Register in order to apply online

Log in now to apply online if you have already registered