Applying for deferment

Take a look at our frequently asked questions for answers to recent questions from our customers. 

What is deferment?
Deferment is the process of postponing your loan repayments for a period of 12 months. From 1st September 2024, If you have a gross monthly income of £3,295.25 or less (equivalent to £39,543.00 per year) you may be eligible to apply for deferment.

How do I apply for deferment?
- In order to defer your repayments you need to first complete a deferment application (an application which can quickly and easily be completed online in your account, by email or in the post) and provide proof of your gross income or means of financial support

- Only your income is taken into account - you do not need to provide income details of your spouse, partner, parents or any other relatives

- Your gross income is the amount you earn before any deductions (such as Income Tax or National Insurance) are taken from your pay

How do I know if my application to defer has been successful?
- We'll contact you to notify you of the outcome of your deferment application

- If your deferment has been accepted your repayments will be deferred for a period of 12 months. During this time you will continue to be charged interest on your outstanding balance. If  you pay by Direct Debit, we'll suspend your Direct Debit payments for the period of your deferment automatically

- We'll contact you just before your deferment period is due to end to inform you of when your repayments are due to start again and how much they will be. You will also be given the opportunity to apply for a further 12 months' deferment at that time

- If your application has been rejected or marked as incomplete, we'll be clear on the reason for this

Further support:
For advice on deferring, or to check the current status of your application please contact us on 0333 003 7188. You'll need to continue to make repayments until you receive confirmation in writing from us that your deferment has been accepted.

Your data:
Whenever a customer completes an application and provides personal information, organisations like Erudio Student Loans have a duty explain to their customers how their personal data will be used by the organisation they’ve submitted the application to, as well as by Credit Reference Agencies and Fraud Prevention Agencies. This is referred to as a Privacy Notice. 

A full version of the Privacy Notice can be viewed by clicking here.