Student Loan Overpayment

JadedMoss

Hi All.

I'm looking for some advice...

I understand that I owe, through my wages, 9% above the threshold each year and that this money goes toward repaying my student loan.

Unfortunately, because I am paid weekly, and my wages are very flexible. I have, at times, paid 50% of my earnings over the years threshold. Yet Student Loans inform me that this is perfectly acceptable and that they are not required to refund the difference between 9% and 50% back. (totalling hundreds of pounds in some circumstances)

Is this right? Am I wrong to chase them for the difference?
I don't see why I have to pay 50%, and others who have more stable wages only have to pay 9%. it's not like I can afford to pay more than them because we would have earnt the same amount.


Thanking you in advance.

JadedMoss.

alexjonsson

My understanding was that you could apply for a refund to SLC if you had overpaid via the PAYE system, no matter how much you had earned. This was something I was planning myself at the end of the tax year!

However, upon further reading of the SLC's FAQ, it does seem that you can only apply for a refund of you haven't earned above the earnings threshold for that year (£16,365 for plan 1 or £21,000 for plan 2).

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678477&_dad=portal&_schema=PORTAL

I agree this is a crap, I would definitely be asking them again - it does seem a bit unfair.

Sorry this doesn't really answer your question, but I can't find a reliable resource stating otherwise.