If you build up a backlog of repayments you may have to repay all the backlog as well as your monthly repayment of the rest of the loan before you can get deferment of the rest. If you transfer to a different course after taking out a loan, you should tell the Company but you will not have to make any repayments until you finish the new course. The amount that you owe will be linked to inflation. This is called indexation and will apply from the date when you first take out the loan. So, the value of the amount you pay back will be broadly the same as the value of the amount you borrowed.
Indexation applies as long as the loan lasts.
This includes any time when you are on a course or defer repayment, and any time when you are paying back the loan or you miss payments. This was the annual inflation rate, as measured by the RPI, in March 1998. The rate for the academic year beginning 1 September 1999 will depend on the inflation rate according to the RPI in March 1999. You will be able to get information about the rate from May 1999. If you have already taken out a loan, the SLC will inform you of the new indexation rate.