The Spring Loaded Cutter (SLC) is a cost efficient solution for underwater pelletizing basic polymers at lower rates. The SLC pelletizer uses constant spring pressure to adjust the cutter blades to the die plate, reducing the need for operator attention and underwater cutting. The cutter hub is connected to the motor shaft through a telescoping spring sleeve, and the blades are automatically positioned against the die plate using spring force. The blade force can be adjusted per application or product by simply changing springs.