If a learner is on a Learning Loan programme, they will have a tab for Student Loans details in their Learner ILR Summary. The following student loan details are shown:
SLC (Student Loans Company) Customer Reference
SLC Application ID
SLC Loan Start date
SLC Loan End date
SLC Course Cost
SLC Course VAT – This will only be displayed if a value has been entered in the edit window.
SLC Loan Amount – This will only be displayed if a value has been entered in the edit window.
SLC Balance to Pay – This will only be displayed if a value has been entered in the edit window.
Payment Records Exist – this indicates whether Payment Records have been generated for the loan payments. You can choose to generate payment records from the edit window explained below.
Make sure that the details in this window are correct before you save with Generate Payment Records ticked, as this is a one-time process. |
Selecting Edit will open a window where you can edit the following details:
SLC (Student Loans Company) Customer Reference
SLC Application ID
SLC Loan Start date – Selecting this field will open a calendar date selector.
SLC Loan End date – Selecting this field will open a calendar date selector.
SLC Course Cost
SLC Course VAT
SLC Loan Amount – This is the total amount of SLC loan offered to cover the programme.
SLC Balance to Pay – This is the total learner contribution for the programme.
Generate Payment Records – If this is ticked, payment records will be created for the learner as explained below. Once payment records have been generated, this option will no longer be available.
Once you have entered the correct details for the learner’s loan, tick Generate Payment Records and Save the loan details to schedule payments in the Payment Records tab. The following types of payment will be generated:
Learner Contribution values – These will be made up of the SLC Balance to Pay value divided into monthly installments between the SLC Loan Start and SLC Loan End dates.
Loan Payment – These will be made up of the SLC Loan Amount value divided into monthly installments between the SLC Loan Start and SLC Loan End dates.
All payment records generated will be given the status of Expected.
