Talk:Student Loans Company

Link to reference 1 not working.

Why is the interest based upon RPI rather than CPI (not the UK measure of inflation is now CPI - can we have a discussion as to what difference this means to those caught in the loan scheme)?

Student Loans Company was formed from Perchlane Limited (according to Companies House) - who were Perchlane?

Payback rules depend upon being paid GBP 15,000 pa. Has anyone done any analysis of payback? Eg, linear programming analysis? So that one can see the regions where some people will never get out of the hole eg GBP 10,000 loan; pay of GBP 15,100 pa gives a payback of GBP 9 but the interest was GBP20 - note figures not verified)

Mate you really know your stuff, i wish there was more help on these points you flag up. Big shame theres not more interest on here given the mass of borrowers! I have another question: Can i claim back excessive charges from the student loans company just like other banks? —Preceding unsigned comment added by 86.111.167.232 (talk) 02:08, 21 October 2007 (UTC)

What charges have they made? The only charges I think they make are interest payments and that is fixed at the RPI, which makes it 'free' according to inflation. I think you would find it hard to argue that 'free' is an excessive charge. 82.46.49.45 (talk) 13:50, 21 July 2009 (UTC)

Rates

It might be worth mentioning about the interest rates. These are set each September at EXACTLY the RPI in the preceeding March. March 2007 remains the highest monthly RPI since 1991 (4.8%), see http://www.statistics.gov.uk/StatBase/tsdataset.asp?vlnk=229&More=N&All=Y. The 2008/2009 rate from September will be 3.8%. You can see clearly how the rates match up if you compare the March RPI figures with SLC APRs from http://www.slc.co.uk/statistics/previous_intrest_rates.html.

--138.37.81.69 (talk) 14:58, 1 July 2008 (UTC)

It's actually below RPI at the moment because of changes in BoE base rate [1] 82.46.49.45 (talk) 13:04, 17 December 2008 (UTC)

It's actually only lower for those who entered into the system after 1998 (on so-called Income Contingent Loans), those who entered before 1998 still pay 3.8% and will continue to do so until September 2009 when it will be set at the March 2009 RPI. --138.37.81.69 (talk) 17:41, 27 January 2009 (UTC)

List of Administrative / Executive / Managerial Personnel

It is an idea to find out WHO is actually in charge of the SLC. This info does not seem to be terribly well indicated on their site. Is there a Chairman? What are the names of those individuals who have accountability and power within the SLC? Who gets to write the rules and regulations concerning how interest is compounded (and, in case it escaped your notice, how much students - including those who are not in employment - get placed in further and further debt).

The next point may also have been on the website, but have there ever been controversies or issues in relation to links which exist between the SLC and HEIs? Just a thought - it inspires doubt when there is not even at least level minded criticism on the SLC wiki page.

ConcernedScientist (talk) 14:55, 9 March 2009 (UTC)

How do they calculate the daily rates quoted on the statements?

Just had a statement through today and note they have failed to print the interest rates from 9/1/09 onwards.

They obviously calculate the daily rate from the APR as this is fixed by the RPI (or BoE rate + 1% as it is currently), however how do they do this calculation? Every method i've tried cannot recreate the values they quote on the back of the statement.

Furthermore, how is the interest compounded? They quote the daily rates, so it's appears to be calculated on a daily basis, though is it compounded daily too (i.e. do you get interest on the previous day's interest)?

Yboy83 (talk) 10:05, 25 August 2009 (UTC)

Yes it's compounded daily, which is why it's so hard to convert the AER to the daily rate. It's so hard that I won't even attempt to do it. You might find an online converter that will do it though 80.235.138.77 (talk) 17:56, 21 December 2009 (UTC)