Student Loan Repayment Discrepancy 27 September 2018 at 9:27AM in Student MoneySaving 1 reply 916 views

Verb

Hi


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.

Dobbibill

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