Scope
Description
The Student Loans Company (SLC)is a non-profit making government owned organisation that administers loans and grants to students in colleges and universities in the UK. We have 9.7 million customers, manage a loan book worth £260.8bn and manage the full end to end "apply, assess, pay and repay "process.
SLC is seeking a supplier to provide a repayment service for SLC customers, who live abroad ,that allows them to make low-cost repayments in the foreign currency of their choosing and for this to be quickly repaid to SLC in sterling. The service must capture all customer contact information and SLC customer reference number, these details to be captured for every transaction made and sent onto SLC to allow SLC to quickly identify the customer account to be credited.
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Total value (estimated)
- £2,310,000 excluding VAT
- £2,772,000 including VAT
Below the relevant threshold
Contract dates (estimated)
- 1 July 2026 to 30 June 2031
- Possible extension to 30 June 2033
- 7 years
Description of possible extension:
The period of the contract is five years with the option for two further 12 month extension periods, dependant on satisfactory service delivery and the continuing need for the services.
Main procurement category
Services
CPV classifications
- 66115000 - International payment transfer services
Contract locations
- UKM8 - West Central Scotland
- UKL - Wales
- UKC13 - Darlington
Submission
Tender submission deadline
9 January 2026, 12:00pm
Submission address and any special instructions
Tenders may be submitted electronically
Yes
Award criteria
| Name | Type | Order of importance |
|---|---|---|
| Compliance with Mandatory requirements = Pass/Fail Criteria | Quality | 1 |
| Cost to the customer | Price | 2 |
| Ability to deliver the desirable technical requirements (file formats; transfer information, integration requirements & accessibility) | Quality | 3 |
| Service Delivery | Quality | 4 |
| Management information/ Customer Relationship Management | Quality | 5 |
| Cyber security | Quality | 6 |
| Implementation plan /integration | Quality | 7 |
| Demonstration | Quality | 8 |
Procedure
Procedure type
Below threshold - open competition
Contracting authority
Student Loans Company Ltd
- Public Procurement Organisation Number: PMXL-3278-BCWT
The Memphis Building, Lingfield Point, McMullen Road
Darlington
DL1 1RW
United Kingdom
Email: Diane_Pirie@slc.co.uk
Region: UKC13 - Darlington
Organisation type: Public authority - central government