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Student Loan Overpayment
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peebub
Posts: 1 Newbie
Due to an SLC mistake I was overpaid on my final maintenance loan. By the time they notified me and asked for the money back it was gone and I had no capacity to repay it. Eventually I was contacted by a debt collection agency which spooked me enough to arrange a Debt Management Plan through StepChange and start to (very slowly) pay it off.
Only now I'm questioning whether I should be working harder to delay paying off the debt as much as possible. I'm not being charged any interest and the debt has never appeared on my credit report. I'm certain that I am obliged to pay it off eventually (unlike the rest of my student loan), since I never had a 'right' to the money in the first place as far as SLC is concerned. However, since it is 0 interest it does seem irrational to pay anything until I'm forced to.
Only now I'm questioning whether I should be working harder to delay paying off the debt as much as possible. I'm not being charged any interest and the debt has never appeared on my credit report. I'm certain that I am obliged to pay it off eventually (unlike the rest of my student loan), since I never had a 'right' to the money in the first place as far as SLC is concerned. However, since it is 0 interest it does seem irrational to pay anything until I'm forced to.
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