There are several interest rate features of the SLF which result in subsidies. First, at the point of enrolment and initial receipt of loan income there is a 6-year period in which the nominal interest rate on the total debt is set to zero, and this includes a 2-year period
after graduation7 (meaning, for example, that a student who completes her degree in 4 years has a total interest grace period of 7 years after enrolment).