OVERPAID GRANT REPAYABLE Please help :(

slim_neva_shady

Hi,

This might be a bit confusing: (This applies to the UK)

I started a Post Grad course and received a GRANT from the Student Loans Company (non-repayable if I completed the course). I didn't complete the course. Student Loans Company still paid me the GRANT. I didn't notice it and spent it. Now they want it back (fair enough).

IT'S JUST

They've told me I MUST pay back over £50.00 a month for the next 12 months. Ideally they want me to pay back £100.00 a month over 6 months but there's NO WAY I can afford that right now. I can't even afford £50.00 a month at the moment and I want to know what my options are.

The person I spoke to today was very unhelpful and I need some impartial advice: the amount repayable is 0% interest at the moment so I don't really want to prioritise that repayment (I've also got an overdraft, a loan and credit cards to pay back). But the guy at Student Loans Company was threatening court action.

Should I stop paying back my other creditors?
Do I have the right to reject SLC's repayment amount of £50.00 and set my own repayment amount?

PLEASE HELP!!! I NEED TO MAKE A DECISION SOON!!!!

RustyFlange

So basically they paid you the gran tyou applied for and yet you didn't notice this large amount of money arrive in your posession

uktyler

Surely it was a loan until you completed the course?

What does the paperwork say that you received with the payment?

skylight

I am surprised that you didn't notice the large amount of money either. But ah well. Such is life.

Write back to them with a complete SOA , outlining your income and all outgoings plus other debts, with a realistic offer of payment. And start to pay it, whether they accept it or not. If they do go the CCJ route, then at least you will have covered yourself by not ignoring the problem and attempting to deal with it.