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Student Loan overpayment refund - ten years late!
So the last payment to my student loan off my payslip was March 2008. Today a letter has arrived from the SLC telling me I'm owed a refund. I've just called and I'm due £372, which is being refunded to my current account. The agent however was unable to tell me why its taken almost ten years to tell me about this refund, and confirmed that the amount has only 60 days of interest added to it.
As the interest is capped at 60 days, this suggests to me they'd expect to contact and issue that refund within that time normally.
Clearly a systems error has occurred which they've probably just fixed, resulting in the letter being sent.
Is anybody else in this situation? Had the amount grown with inflation over the last ten years it'd be worth £100 more now. I've raised a complaint with them to figure out what's going on, and will report back.
As the interest is capped at 60 days, this suggests to me they'd expect to contact and issue that refund within that time normally.
Clearly a systems error has occurred which they've probably just fixed, resulting in the letter being sent.
Is anybody else in this situation? Had the amount grown with inflation over the last ten years it'd be worth £100 more now. I've raised a complaint with them to figure out what's going on, and will report back.
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