Repayment
Repayment begins one year after you graduate, and it is what allows the Scheme to lend to the next student.
The one-year grace period
You get a one-year grace period after you graduate before repayment begins. It is there to give you time to move from higher education into employment and get established.
Your responsibilities
As a beneficiary you are expected to do all of this.
- Keep your contact information up to date.
- Tell SRLS when your employment or your contact details change.
- Understand what you have agreed to repay.
- Make your repayments according to the agreed schedule.
- Tell SRLS if something happens that affects your ability to repay.
Why repayment matters
A student loan is an investment in your education and a financial obligation that has to be repaid. Repayment is an essential part of the revolving model: when beneficiaries repay, those resources go to support future students.
Repayment is what makes the Scheme revolving. Today's student financing becomes tomorrow's opportunity for another student.
The repayment schedule, the size of the instalments and what happens if a loan is not repaid come from the SRLS Loan Policy. SRLS has not published that document yet, so those details are not on this site.