After much anticipation and development, the online repayment service for Student Loans has officially launched on the Gov.uk website. The service will allow users to perform a variety of tasks in relation to their loans in a quick and simple fashion.
The online service offers the following functionality:
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View and print copies of annual statements
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View up-to-date balance summaries for the current tax year
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Establish the interest rate attached to any student loans
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Update any personal details that need amending
All you need to access your account is your customer reference number and password.
At the moment , the Student Finance Team are just making customers aware that the service is now available, and ready to use so there’s nothing that you need to do or action. However annual paper statements distributed by post will be stopped, because real-time balances can be located online. If for any reason you would still prefer to receive that paper statement then you can request this by clicking here.
There is of course the option to make extra repayments towards paying off the remainder of your student loan should you wish and be able to, but this is completely up to you. How much you should pay will be dependent on a variety of things such as your income and how long you have left on your loan. But as with any loan, the quicker you can pay it off the less interest you will incur. For more information about extra repayments click here.
