Guidance

How repayments are applied to your balance

When you make repayments directly to the Student Loans Company, you can choose how the money is applied to your balance.

You can choose how a repayment is applied

You can make a repayment to:

  • your total overall loan balance
  • a specific plan type

If you have to pay back a grant or loan overpayment, or if you have arrears on your account, you should speak to the Student Loans Company (SLC) first.

How repayments are applied if you don’t choose

Repayments will be applied in the following order.

  1. If you’re overseas and your loan is in arrears

    Any repayments will pay off the arrears first. If you have more than one loan balance in arrears, repayments will go to the balance with the highest interest rate first.

  2. If you’re overseas and you’ve been making scheduled repayments

    If you have more than one loan balance, your repayments will go to the balance with the highest interest rate first.

  3. If you’ve finished your studies and you’ve been paid too much loan or grant

    You will pay that back first. If you have more than one overpayment, repayments will go to the balance with the highest interest rate first.

  4. If you’re still studying and you’ve been paid too much loan or grant

    You will pay that back first. If you have more than one overpayment, repayments will go to the balance with the highest interest rate first.

  5. Loans in repayment

    Repayments will go towards the balance that has the highest interest rate first.

  6. Loans not yet in repayment

    If you’re still studying or you’re not yet due to repay, repayments will go to the balance that has the highest interest rate first.

  7. Loans or grants in credit

    If you fully repay a loan or grant but make further repayments, these will be credited to this balance until you ask for a refund.

Updates to this page

Published 13 August 2019
Last updated 17 August 2020 + show all updates
  1. Removed 3 options in 'You can make repayment to...' list as not accurate.

  2. Added translation

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