Student loans company represents United Kingdom government institution that takes care of the financial support required by university students. The loans provided in this system have a low inflation rate, with programs regulating that repayment should begin only when the student has an income that exceeds a certain pre-established threshold . This is 15,000 pounds at present.

The Student Loans Company was founded in 1990, and ever since it has contributed to an increase of the educational level of British students. With the headquarters in Glasgow Scotland, the Student Loans Company works for all the British isles, although the number of employees seems to be insufficient to handle applications. A study conducted at the beginning of the 2009-2010 academic year shows that there are too few workers handling the applications which has led to a very unpleasant situation for both students and universities.

{There are three types of service packages that students can access through Student Loans Company|The Student Loans Company provides three different packages of service: targeted support, maintenance support and tuition fee support. When the loans are approved, the payments are operated by the Student Loans Company directly towards schools in Scotland, Wales, England, Northern Ireland and EU. The repayment system is organized according to a collection system known as the Income Contingent Repayment.

Besides acting as a borrower, Student Loans Company is also in charge of scholarships and grants provided on the basis of eligibility criteria. Scholarships are just of the three types of awards granted by the government, and the other two are discretionary bursaries and mandatory bursaries. These extra souces of financial aid act as gifts and they do not have to be repayed. They function as additions to awarded grants or student loans.

The Student Loan Companies will make significant changes for the 2010-2011 academic year. Thus the coverage for tuition fees and part time courses will register a 2.4% increase, although no modifications will be operated on the living and support rates. If students choose to go for higher forms of college education, the Student Loans Company can provide a quote of the estimated support instead of a future support guarantee.

All the terms and conditions can be checked on the official website of the Student Loans Company. Furthermore, this is the best place to inquire about eligibility criteria and get a cost analysis for estimation.