Student Loan Overpayment

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Replies

  • edited 2 March at 10:00PM
    mrsrolfiemrsrolfie Forumite
    22 Posts
    Eighth Anniversary 10 Posts Name Dropper Combo Breaker
    edited 2 March at 10:00PM
    Bit of a long shot here... and please don’t laugh me out of the forum for being ridiculous... 

    I graduated in June 2006. In September 2006 my dad’s health deteriorated very quickly (he had been ill for 20 odd years). My parents wanted to claim incapacity benefit for him, as he was no longer able to work. To do this, they had to get rid of savings, otherwise they couldn’t claim anything. 
    Very naively they decided to pay off my student loan so it was paid off around October 2006. I was very grateful but knowing what I know now, it was a complete waste of their hard earned, and saved, money. I feel sick every time I read articles about it, as I have never earned enough to mean I would have to repay, and now I work part time. 
    My dad passed away a few months after, which makes me feel even worse because we didn’t expect it so they ‘lost’ all those savings for the sake of a few months incapacity benefit. 
    I can’t bring myself to tell my mum, even though she’d tell me not to worry etc, as £18k is a huge amount of money and it would come in so handy for her now. 
    So my question is, any chance I could reclaim anything?! Please be kind, I know it’s a silly question really but I’d love to be able to give something back to my mum. 
  • [Deleted User][Deleted User]
    0 Posts
    Third Anniversary 10 Posts Name Dropper
    MoneySaving Newbie
    mrsrolfie said:
    Bit of a long shot here... and please don’t laugh me out of the forum for being ridiculous... 

    I graduated in June 2006. In September 2006 my dad’s health deteriorated very quickly (he had been ill for 20 odd years). My parents wanted to claim incapacity benefit for him, as he was no longer able to work. To do this, they had to get rid of savings, otherwise they couldn’t claim anything. 
    Very naively they decided to pay off my student loan so it was paid off around October 2006. I was very grateful but knowing what I know now, it was a complete waste of their hard earned, and saved, money. I feel sick every time I read articles about it, as I have never earned enough to mean I would have to repay, and now I work part time. 
    My dad passed away a few months after, which makes me feel even worse because we didn’t expect it so they ‘lost’ all those savings for the sake of a few months incapacity benefit. 
    I can’t bring myself to tell my mum, even though she’d tell me not to worry etc, as £18k is a huge amount of money and it would come in so handy for her now. 
    So my question is, any chance I could reclaim anything?! Please be kind, I know it’s a silly question really but I’d love to be able to give something back to my mum. 
    Hi @[email protected]

    The answer is no; while the circumstances are very unfortunate, you are not entitled to a refund of anything you pay voluntarily to your loan balance.

    I'm sorry for getting right to it, but under the circumstances I don't want to give you false hope for something that won't happen and risk you wasting your time.
  • mrsrolfiemrsrolfie Forumite
    22 Posts
    Eighth Anniversary 10 Posts Name Dropper Combo Breaker
    mrsrolfie said:
    Bit of a long shot here... and please don’t laugh me out of the forum for being ridiculous... 

    I graduated in June 2006. In September 2006 my dad’s health deteriorated very quickly (he had been ill for 20 odd years). My parents wanted to claim incapacity benefit for him, as he was no longer able to work. To do this, they had to get rid of savings, otherwise they couldn’t claim anything. 
    Very naively they decided to pay off my student loan so it was paid off around October 2006. I was very grateful but knowing what I know now, it was a complete waste of their hard earned, and saved, money. I feel sick every time I read articles about it, as I have never earned enough to mean I would have to repay, and now I work part time. 
    My dad passed away a few months after, which makes me feel even worse because we didn’t expect it so they ‘lost’ all those savings for the sake of a few months incapacity benefit. 
    I can’t bring myself to tell my mum, even though she’d tell me not to worry etc, as £18k is a huge amount of money and it would come in so handy for her now. 
    So my question is, any chance I could reclaim anything?! Please be kind, I know it’s a silly question really but I’d love to be able to give something back to my mum. 
    Hi @[email protected]

    The answer is no; while the circumstances are very unfortunate, you are not entitled to a refund of anything you pay voluntarily to your loan balance.

    I'm sorry for getting right to it, but under the circumstances I don't want to give you false hope for something that won't happen and risk you wasting your time.
    mrsrolfie said:
    Bit of a long shot here... and please don’t laugh me out of the forum for being ridiculous... 

    I graduated in June 2006. In September 2006 my dad’s health deteriorated very quickly (he had been ill for 20 odd years). My parents wanted to claim incapacity benefit for him, as he was no longer able to work. To do this, they had to get rid of savings, otherwise they couldn’t claim anything. 
    Very naively they decided to pay off my student loan so it was paid off around October 2006. I was very grateful but knowing what I know now, it was a complete waste of their hard earned, and saved, money. I feel sick every time I read articles about it, as I have never earned enough to mean I would have to repay, and now I work part time. 
    My dad passed away a few months after, which makes me feel even worse because we didn’t expect it so they ‘lost’ all those savings for the sake of a few months incapacity benefit. 
    I can’t bring myself to tell my mum, even though she’d tell me not to worry etc, as £18k is a huge amount of money and it would come in so handy for her now. 
    So my question is, any chance I could reclaim anything?! Please be kind, I know it’s a silly question really but I’d love to be able to give something back to my mum. 
    Hi @[email protected]

    The answer is no; while the circumstances are very unfortunate, you are not entitled to a refund of anything you pay voluntarily to your loan balance.

    I'm sorry for getting right to it, but under the circumstances I don't want to give you false hope for something that won't happen and risk you wasting your time.
    Thank you for taking the time to reply and for your advice 😊
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