Students: Loans

The attached table provides repayment rates for loans due for repayment for the 2020/21 to 2024/25 financial years. The repayment rate was calculated as the percentage of borrowers whose loan has passed its Statutory Repayment Due Date (SRDD, normally the April after the end of the course) and have made a payment in the financial year out of all borrowers whose loan has passed its SRDD. Although borrowers become liable for repayment from the SRDD, repayments are only due where earnings exceed the relevant threshold. Borrowers who remain below this threshold, or experience fluctuating incomes, are not required to make repayments on a continuous basis. Additionally, periods of further study, unemployment, or other life events may reduce earnings below the threshold, resulting in no repayments being collected despite being past the SRDD.

Eligibility for student finance is not based on nationality, but on immigration status and residency, ensuring that access to support reflects an individual’s established connection to the UK, rather than their nationality in isolation. To be eligible, a student must be ordinarily resident in England and be settled or have a recognised connection with the UK. Students must also have been ordinarily resident in the UK and Islands (Channel Islands, the Isle of Man and/or the British Overseas Territories) for the three years prior to the first day of the first academic year of their course. Some individuals are exempt from these requirements. For example, those with Refugee Status do not have to meet the standard settlement and residency criteria.

The nationality of all borrowers is checked and validated during the application process. Records listed as ‘unknown’ (in a very small number of mainly postgraduate borrower records) reflect legacy data quality issues in this field, which are being addressed by the Student Loans Company (SLC) and the department. This is a live management information dataset which is not static, and data can be updated over time as SLC update their records and re-categorise data.