Overpaid my Student Loan

valezoe

I received an annual statement in December 08 saying that I had a balance of £1200 (calculated at the end of March 2007). Since April 2007 I've worked out that actually I have paid £2400 in repayments which have yet to be deducted from my account.

They have asked me to send copies of all payslips since April 2007 so that they can refund the £1200 extra I've paid.

Can I request interest on what they owe me and if so what rate would this be?

Thanks

19penny

Im in a similar situation. I felt quite angry at first with them as i know what a nightmare my sister has just had even getting a student loan paid, and then i find out they've been taking my money when they should have stopped!!

Id like to know what im entitled too!

After the anger subsided I did feel excited because I need money!!

Does anyone know how long it will take to get this back?

Poolie

19penny - When did you last have a statement from SLC and when was it made up too?

Firstly, in you think you have overpaid call SLC and give them the details of the repayment from the last repayment file till your current payslip so they know you have been overpaid.

SLC will then issue the required stop notificaiton to your employer via HMRC. Until this is received your employer HAS to continue with the repayments.

Once your employer receives the notification they have up to 42 days to action the notification.

So best to wait till the repayments actually stop being taken from your payslip then send all the information P60 and payslips to SLC along with confirmation of your bank details so they can process your refund.

Once you send it off, SLC will take about a week or 2 to get this processed. You may or may not receive a letter confirming the refund.

You will not receive a statement till SLC receives the repayment file from HMRC.

echelon_2

I overpaid my student loan by almost £600 in the tax year 2009/2010. the last payment was made to them in October 2009.

I have written to them and asked for full refund, but they say I need to send in payslips as they still haven't received the money from HMRC, and therefore can't caclulate the excess. Unfortunately I lost most of my payslips in my last housemove..

Does anyone know why this is taking so long? Why haven't HMRC passed on the payments yet?? I guess I can just keep bugging them, but it's annoying that I should have to do so much work..

Poolie

Do you still work for the same employer? If so, could you ask them to detail the repayments you made each month on letter headed paper and confirm your paye code. You could then write to SLC to ask them to investigate when the payments have not arrived and see if they will accept the letter as proof of your repayments, it may be worth a try if you have lost your payslips.

It is your responsibility to keep track of your student loan and make sure the payments are received.