Our governance

The Student Loans Company (SLC) is an executive non-departmental public body.

Student Loans Company Limited (SLC) was incorporated as a private limited company in 1989 and started trading in 1990.

In addition to being subject to the provisions of the Companies Acts, SLC is required to operate within the limits of a framework document (PDF, 3.53MB, 104 pages) between the company and the government.

SLC is owned by the Secretary of State for Education, the Scottish Ministers, the Welsh Ministers and the Minister for the Economy in Northern Ireland. It is entirely government-funded and non-profit making.

SLC Main Board

The role of the Main Board is to:

  • set the strategic direction of the company within the policies and business framework set by ministers
  • oversee the effective and efficient discharge of the company’s statutory responsibilities
  • ensure that appropriate strategic, corporate, operating and financial plans are in place for the delivery of services required of the company by ministers
  • ensure the company acts in accordance with ministers’ policies and does not operate beyond directions issued by ministers
  • ensure the company meets the Companies Act statutory and regulatory responsibilities, including those for corporate governance. The Board should ensure that the highest standards of corporate governance are observed
  • give advice as sought by ministers on policy formulation and on the most effective and efficient delivery of policies
  • respond effectively to the varying demands of different partners imposed by devolution and private sector clients

Board membership

The Board is comprised of executive and non executive directors.

Non executive chair

Peter Lauener

Non executive directors

Company directors

Company Secretary

The Main Board meets eight times a year. Minutes are available from each meeting in the SLC Board meeting minutes collection page.

Executive Leadership Team

The Executive Leadership Team is responsible for controlling and monitoring SLC’s operational and financial management. It sets the strategic and business priorities and objectives in line with strategies set out by its stakeholders and it oversees SLC’s capacity and capability to meet them in terms of available resource. The Executive Leadership Team is supported by sub-groups, while decisions on reserved matters are subject to approval at Board or Executive Leadership Team level as appropriate.

The members of the Executive Leadership Team are:

Audit and Risk Committee (ARC)

The ARC supports the Board on matters relating to internal control and governance and associated assurance matters, in accordance with Public Sector Internal Audit Standards.

The members of this committee are:

Remuneration Committee (RemCo)

The RemCo supports the Board on the appointment and remuneration of members of the Executive Leadership Team, including the CEO.

The members of this committee are:

Stakeholder Working Groups

SLC has established a number of stakeholder working groups to share knowledge and expertise with the aim of improving our services and strategic areas of our business.

Our working groups are:

Stakeholder Forum

Student Finance Stakeholders Operations Group

Vulnerable Students Stakeholders Group

Disabled Students Stakeholders Group

Advanced Learner Loans Stakeholders Group

Higher Education Bursaries and Scholarship Scheme Steering Group