Investigation into oversight of the Student Loans Company’s governance, and management of its former chief executive
National Audit Office
UK public financial bodies
Student Loans Company
Majority ownedNational · United Kingdom
A publicly owned student finance administrator, included because Treasury designates it as a public financial institution. SLC administers loans, grants and repayments for the four UK governments; the student loan assets are held separately from the company’s own equity.
- UK ownership or participation
- DfE is the majority shareholder; the Scottish, Welsh and Northern Irish governments hold the balance. The government’s 2019 review specifies 85% / 5% / 5% / 5%; the 2025–26 accounts confirm the same four owners.
- Lead department or body
- Department for Education
- UK voting rights
- DfE majority control; current voting percentage not separately verified
- Mandate
- Student finance administration
UK financial position
A verified value for the UK government’s financial position has not yet been recorded. Institution-level figures are shown separately below.
Accounting values, paid-in capital and funding commitments have different meanings and reporting dates. These figures are not added together.
Institution finances and activity
These describe the institution or the assets it administers. They are separate from the UK government’s holding.
SLC company equity£47.801m31 March 2026
Total company net assets for all four public shareholders. This is not a valuation of DfE’s individual stake or the student loan book.
Underlying source ↗Loan book administered£324.8bn31 March 2026
Face value across all UK domiciles, including loans owned by government and private investors. These loans are administered by SLC and are not SLC’s company equity; government-owned books sit in the relevant departments’ accounts.
Underlying source ↗Ownership and accountability
DfE is the lead corporate sponsor. SLC is separately accountable to the relevant ministers for each nation’s student finance functions; those ministers set policy. Its board and accounting officer oversee delivery.
Research hub
4 publications relevant to SLC · Institution-specific research shown first
Student loan repayments
National Audit Office
Managing the government’s financial investments: the Financial Transaction Control Framework
National Audit Office
News and announcements
View in News and announcements →- SLC publishes its 2025–26 annual report ↗
The accounts report £47.801m of company equity and a separate £324.8bn administered student loan book.
- DfE explains its directions to SLC on misclassified courses ↗
A parliamentary answer sets out ministerial instructions on recovering loans through existing repayment terms and temporarily pausing targeted grant recovery for affected students.