The Student Loans Company (SLC) plays a crucial role in supporting students across the UK with funding for tuition and living costs. As we move into 2025, several key developments have emerged that impact both current students and graduates. Here’s everything you need to know about the latest updates from the SLC.
Apprenticeship Opportunities in Darlington
In celebration of National Apprenticeship Week, the SLC has announced a new initiative to recruit 12 Student Finance Officer apprentices in Darlington. These 18-month apprenticeships, set to commence in July 2025, offer individuals the opportunity to work while studying towards a Level 3 Business Administrator qualification in partnership with Darlington College. This initiative aims to provide young people with hands-on experience in supporting student finance applications across the UK while enhancing their career prospects in the financial sector.
Major Student Loan Disbursements
At the start of 2025, the SLC disbursed a significant £3.2 billion in maintenance loan payments to approximately 1.3 million students. These payments include the second instalments for students who began their courses in Autumn 2024 and the first instalments for those commencing their studies in January 2025. This timely financial support helps students cover essential living expenses, ensuring they can focus on their studies without financial strain.
Rising Cost of Postgraduate Education
Recent reports have highlighted a concerning trend in postgraduate education costs. The average one-year master’s degree fee has surged by £2,000 over the past three years, now standing at around £12,700. Some courses even charge tuition fees exceeding £80,000. Given that the maximum student loan for postgraduates is capped at £12,858, many students find themselves unable to cover both tuition and living expenses, forcing them to seek alternative funding sources such as personal savings, scholarships, or part-time work.
Overpayment Refunds for Graduates
In a recent financial advisory update, Martin Lewis has warned that nearly one million graduates may have overpaid their student loans. Overpayments often occur due to incorrect repayment plans or payments being deducted from salaries despite the graduate earning below the repayment threshold. The SLC encourages affected individuals to check their repayment history and contact the company for a refund. Many could be eligible to reclaim hundreds or even thousands of pounds in overpaid funds.
What This Means for Students and Graduates
These latest updates highlight the importance of staying informed about changes in student finance. Whether you’re a current student relying on maintenance loans, a postgraduate struggling with rising tuition costs, or a graduate potentially entitled to a refund, keeping track of SLC developments can help you make more informed financial decisions.
For more details on student loans, repayment plans, and eligibility for refunds, visit the official Student Loans Company website at gov.uk.