How To Change Address With The Student Loan Company

Everything You Need To Know About Student Finance Address Change

Change address student loan company
student finance address change

Student loans change of address

As we know, the Student Loans Company is a non-profit organisation that look after loans and grants to Universities in the UK.  When we leave University we seldom think about the Student Loan Company (SLC), let alone student loans change of address. They just take their monthly cut of your salary and that’s that.

However, things can go wrong. There’s a chance they might not be tracking your finance payments. There are mix-ups all the time. According to the BBC, over £28 million of Student Loan Payments are ‘unclaimed’.

So, there are many reasons to keep your address updated. In this guide we will you how to update your address with the Student Loans Company, some interesting facts and lots of other frequently asked questions.

Without further-ado, let’s get started

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How to update student loan company about address change

The first question to ask yourself is: Is the Student Loans Company the only company I need to inform about my address change? If you need to change address with the Student Loan Company, DVLA, NHS, Council, loyalty cards etc… then you should start with our free online change of address form and you can update them all at once. Our online platform will get your student loans change of address completed immediately. 

If you only need to update the Student Loan Company about your address change then you can head over to their login portal and sign in. Locate the drop-down menu and select ‘update profile’, then enter your new address. It should be fairly straightforward and will update within a short time-frame.

moving home checklist

Moving Home Checklist

And it’s that simple.  If you are moving home, you’ll definitely want to check out our moving home checklist guide. If you’re looking to save a little time, you can just head over to our online change of address form. You can  update your address online with the Student Loan Company as well as all of the others whilst you’re at it. You can click the link below to get started  Now, let’s turn to some unbelievable Student Loan facts you might not be aware of!

Go forward

Getting ahead

Keeping all of your addresses up to date is important, and it has usually been something that is quite time consuming. Now you know how to update your address on the electoral roll, you should see how to update your address online with everyone. For free. Within 5 minutes. We’ve bought moving home into the 21st century and if you are in the process of moving or have recently moved check out our online change of address service.

Student Loan Facts UK 2019

1 Out Of 3 Adults Under 30 Have Student Loan Debt

Can you believe it? If you’re wedged on a bus right now with two people of a similar age, odds are that at least one of you has student debt! This was gathered by some research undertaken by PewResearch

£16 Billion Is Lent Out Every Year

That’s right, every single year around £16 Billion is lent out to around 1 million students. This was revealed following a parliamentary study into student loans

The UK's Student Loan Outstanding Balance Exceeds £121 Billion

To put that into perspective, that’s about 1/18th of our entire countries GDP in 2018. If we were to split our student loan debt as of March 2019 across every citizen of the UK, we would all owe £1,833 each. What’s more, the UK Government expects our total student loan debt to become in around £450 Billion by 2050. 

After 25 Years Your Entire Student Loan Debt Could Be Cleared

That’s great news, right? The key is to figure out whether or not you expect to pay off your student loan before the 25 or 30  years and by how much (dependant upon you loan plan – for some it’s when you reach 65 (see FAQ for more information)). When you estimate that, you can make a decision as to whether or not it makes financial sense to double-down and pay it off.

Frequently Asked Questions

How do I contact the Student Loan Company?

You can contact the student loan company by phoning: 0300 100 0611. They are open 8AM – 8PM Mon-Fri, and 9AM – 4PM Sat. You can complete a student loans change of address this way, but it is better to do so online.

Do I need to tell student loans when I get a new job?

Providing you’re not leaving the country and you inform your new employer, you do not need to tell student loans when you have a new job. If you change jobs, still earn above the threshold salary and don’t see any deductions, speak with your employer in the first instance.

Do student loans expire UK?

Plan 2 loans will be written off  30 years following the date from which you started repaying them. Plan 1 loans will be written off in 25 years if you started after 2006 and when you’re 65 if you started before 2006.

When do student loan repayments start?

Student Loan repayments start after you hit a certain threshold (£18,935 for Plan 1, and £25, 725 for Plan 2). The good news? you don’t pay anything for the first tax year following University.

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