CSLM2020 - about CSL: overview of student loans: role of student loans company

The Student Loans Company is a non - departmental government body, funded by the Education Departments in Scotland, England and Northern Ireland. It has responsibility for

  • Processing students’ loan applications. It makes student loans to borrowers in a lump sum or in up to 3 instalments, depending on when the student applies
  • Administering the repayment of student loans

The Student Loans Company will, under the income contingent loans scheme

  • Retain responsibility for administering the loan and maintain the borrower's account
  • Handle enquiries from borrowers concerning the balance on their accounts and the repayments being made, even though these repayments may be via HMRC
  • Collect repayments from overseas borrowers for whom HMRC are not responsible
  • Instruct the HMRC computer when to issue Start Notices and Stop Notices

Note:

The Student Loans Company is not an executive office of HMRC. Its staff have no knowledge of income tax affairs or the workings of HMRC