Student loan repayment - overpaid ?

petesy2001x

Hi so I work for a company and my basic wage is not enough to pay back my student loan. However, some weeks I do overtime and I will pay a contribution to my student loan.

At the end of the tax year I had contributed £411 towards student loan repayment, despite only earning £1000 over the threshold. By my calculations, I should have paid 9% of £411, so roughly £91. I just presumed I would get a rebate of £320. However, after contacting the slc I am now being told I am not due a refund because I earned more than the threshold. That can’t be right can it?

has anyone had anything similar to them but managed to get a refund?

Ed-1

petesy2001x said:

Hi so I work for a company and my basic wage is not enough to pay back my student loan. However, some weeks I do overtime and I will pay a contribution to my student loan.

At the end of the tax year I had contributed £411 towards student loan repayment, despite only earning £1000 over the threshold. By my calculations, I should have paid 9% of £411, so roughly £91. I just presumed I would get a rebate of £320. However, after contacting the slc I am now being told I am not due a refund because I earned more than the threshold. That can’t be right can it?

has anyone had anything similar to them but managed to get a refund?

If you are paid monthly, it's the monthly threshold that matters. The only time the annual threshold is relevant is if your total earnings in the tax year were under it. If they weren't then there are no adjustments to your repayments if you earned over the monthly threshold when you were paid.