Student Loan Repayment Discrepancy

VerbVerb Forumite
227 Posts
Part of the Furniture 100 Posts Combo Breaker

I attended university from 1999 - 2003

I am at the tail end of paying my student loan off and requested statement history off the student loans company who supplied these within a few weeks of requesting.

I went through and matched my payment's against my wage slips and have found a discrepancy from 2007 - 2008. Deducted from my wages is £261, but the student loans company only have me down as paying £53 which is a difference of £208.

I have contacted the SLC who funny enough misfiled my complaint so I have had to resend it.

Does anyone know what will happen at this point.

Also the £208 will have been accruing interest against it. Is interest (2008 it was 4.8% and 2016 it was 1.25% plus others in-between) accrued monthly of annually. So back in 2008 would I be paying 4.8% on what I owed each month or is the 4.8% added once at the start of the tax year

What I'm trying to work out in advance of any response is what amount needs to be deducted off my current balance.


  • DobbibillDobbibill Forumite, Ambassador
    4.1K Posts
    Eighth Anniversary 1,000 Posts Mortgage-free Glee! Name Dropper
    You need to ring and speak to them.

    Sorry, I can't help with the calculations.

    Would you come back and update the thread once you have a resolution so it may help others in the future?

    All the best
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySavingExpert.

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