Reclaiming Student Loan Charges

tibawo

i know i'm a bit late of the mark with charges but i can't seem to find on the forum if i can claim back student loan charges. They are worse than anybody!
Thanks in advance

Sol00

No, as it's public money which is being used for the administration on your account.

tibawo

but is it not a company now and not government owned so how is it public money?
surely if the admin cost is over £12 then they can't impose it? isn't this what all the fuss is about anyway?

Riq

What do they charge for? I have never been charged on my student loan

tibawo

letters being sent out £15 and ther's a £20 fee admin

Sol00

tibawo wrote: »

but is it not a company now and not government owned so how is it public money?
surely if the admin cost is over £12 then they can't impose it? isn't this what all the fuss is about anyway?

The money paid out by SLC is public money and therefore all money paid out is expected to be returned. It is owned by the Secretary of State and all money the company receives is from the government, so I don't know where you got the idea it wasn't government owned.

Charges are normally applied to an account if a trace had to be carried out to locate a 'mortgage style' borrower, or if payments have not been made.

moongarden

sent my deferment forms with pay slips and so on - as i wasn't earning above the threshold. posted the forms in July and then went abroad in September. Didn't hear anything from them saying "we have not received your deferment forms" or "now we will start taking payments". When I came back from doing voluntary service abroad I contacted them to find out my balance and give my new address and found out I had racked up 4 months worth of charges for missed payments.

now i felt pretty mad about this so I looked through my records and found the orange recorded delivery slip and checked on the royal mail website - which said the forms had been delivered and signed for in July.

This was Honours student loans - i think SLC sold my loan on at some point a few years ago.

... one final comment to those who think people shouldn't be able to claim back student loan charges - the government lends out the money and gets it back with interest - is there really a good case for charging 20 quid a pop to send a letter on top of that? those who are older than me got grants from the govt and didn't have to pay them back - and guess what is being proposed at the moment... you guessed it - grants.

Sol00 wrote: »

The money paid out by SLC is public money and therefore all money paid out is expected to be returned. It is owned by the Secretary of State and all money the company receives is from the government, so I don't know where you got the idea it wasn't government owned.

Charges are normally applied to an account if a trace had to be carried out to locate a 'mortgage style' borrower, or if payments have not been made.

tibawo

Sol00 wrote: »

The money paid out by SLC is public money and therefore all money paid out is expected to be returned. It is owned by the Secretary of State and all money the company receives is from the government, so I don't know where you got the idea it wasn't government owned.

Charges are normally applied to an account if a trace had to be carried out to locate a 'mortgage style' borrower, or if payments have not been made.

Yes but the issue is. Financial insitutions are said to be charging too much if go over £12. Why is the SLC not under this umbrella? Basically you're saying the govt can do one thing and the govt can do another!

No trace was carried out for me. It was same address.

The idea not govt led was that i had a letter saying some loans had been sold on to other companies.

jpucker

The Student Loans Company does not refund any voluntary payments that you have made unless you have finished!paying!the loan and these are in fact 'overpayments'.
I went to uni 2004-2008 and paid them around £7000 in total foe those years. However i made VOLUNTARY payments and finished paying back the loans. Does this count as a overpayment? It does right as i wasn't earning the current threshold. Please reply!