The Student Loans Company (SLC) has paid £0.9 billion in first term Maintenance Loan payments into students' bank accounts across the UK today (Monday 23rd September).
SLC enables more than 1.5 million students each year to invest in their futures by providing financial support to access further and higher education. And today marks the biggest payment date at the start of the 24/25 academic year, as students start or return to university. Similarly timed payments of £927 million were made in September 2022 and £798 million in September 2023, and tuition Fee Loan payments are paid directly to higher education providers later in the autumn.
Payments are released to students when their university or college confirms that they have registered/enrolled. Once SLC has this information, it will send a text message to students a few days before the expected payment date to let them know that their Maintenance Loan is on the way. SLC is encouraging students to log-in to their online account to track their application and payment progress.
