The Student Loan
A student loan is an amount of money given to a student to assist them financially during their time at University, and which must be repaid when the student graduates and begins earning money. Most students in the UK obtain their student loan from the Student Loans Company (SLC), which has various regional branches to support students in different areas of the UK.
Residents of England and Wales should report to their Local Authorities (LA) for student loan information; Residents of Northern Ireland are assisted by the Education and Library Board (ELB); and the relevant authority for residents of Scotland is the Student Awards Agency for Scotland (SAAS).
The student loan is in fact two separate loans: the tuition fees loan and the maintenance loan. For this reason student loans are also known as student finance packages: a package of two types of financing.
For details see:
