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In page Student loans in the United Kingdom:
"Student Loans in their original form were brought in under the Conservative Government of Margaret Thatcher which ended in November 1990. She was succeeded by another Conservative Prime Minister, Sir John Major. The same government was in power until May 1997. The SLC ( Student Loans Company) was founded for the 1990/91 academic year to provide students with additional help towards living costs in the form of low-interest loans. In its first year, the SLC gave loans to 180,200 students.[1] This represented a take up rate of 28% of eligible students, with an average loan of £390.
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