Student Loan Company refused overpayment return

LS2000 · 12 April 2024 at 6:38PM

Hi there,

I had a student loan in 2001 - receiving the first payment of £2,000 in September before quitting University just before the next term started and the second £2,000 payment was made.

I contacted SLC to inform them I had left university and to ask how to repay the second payment which I wasn’t entitled to. I was told that I couldn’t but not to worry as it was the cheapest loan I would ever get.

I have ADHD and have struggled all of my adult life to stay in employment so I have rarely earned enough to make repayments- now at the age of 44 I owe SLC around £5,700 which is costing me £50/month.

I believe I was mis-sold this loan as I had tried to return the overpayment, I also believe this wasn’t responsible lending to a 20 year old who didn’t understand the implications or know any better than I was told by SLC at the time. We didn’t have online accounts to make extra payments back then so without directions from them I couldn’t pay it back.

I have contacted SLC to ask for a complete statement history of what was paid and when, does anyone know if I have a case to request a refund of the interest on the second payment and/or cancellation of the overpayment completely?

I haven’t been able to find anything online except that if you’re overpaid you have to pay that back immediately and it isn’t added to your overall loan.

Thanks in advance.