As students prepare for university, the Student Loans Company (SLC) is reminding them to be alert to potential scams. This warning comes as maintenance loan payments for the 2026/27 academic year commence, with an estimated £2.6 billion due to be paid to 1.1 million students this month.
Scammers often use this busy payment period to send convincing messages, emails, or make phone calls. These communications may falsely claim that a student's payment is at risk, bank details need updating, or an account will be closed if immediate action is not taken.
Students are advised that the SLC will not ask for personal or financial information via email, text message, or social media. Instead of clicking on links in unexpected communications, students should log into their student finance account directly through GOV.UK.
Alan Balanowski, Risk Director at SLC, highlighted that scammers know when payments are due and will try to take advantage. Lord Hanson, Fraud Minister, added that criminals target students who may be managing their finances for the first time.
The SLC has prevention measures in place, which reportedly saved £56.2 million last year. Suspicious emails can be forwarded to report@phishing.gov.uk, and scam text messages to 7726.