SLC have overpaid my loan by approx 6K this year...

samantha12345

Hi
I've just received my last installment of grants/loans for 2007/8 and I have been overpaid by 2K each installment on the loan side (6K in total for this academic year).
Luckily I have kept it in a savings account until I know what they will do about it.
As I am a 30 year old parent of two young boys I am hoping they will just tag it onto the final total.
Am I being naive in presuming this?
Are they more likely to either:
a) demand total repayment when they discover their mistake
or
b) pay nothing but my tuition fees next academic year (my final year)?
Also, am I doing anything wrong in not having told them of their mistake?
Thanks for any advice anyone can give...

QuirkyChemistry

I believe they are more likely to want it repaid now than to add it onto your total debt. They will either reduce your future payments or demand a lump sum. Fortunately you have been sensible and put it to one side. Have you tried contacting them?

samantha12345

no, I haven't.I was overpaid by about 6ooGBP last year and they sent me a letter giving me the option to either repay it now or else add it onto my final total.Was kind of hoping they might do that again...

LillyJ

I was overpaid, and they just told me it would be added to my loan amount. It is after all a profit making company and they actually gain money from lending to you. I needed the money so I kept it and it is on my total loan amount now

Blacksheep1979

No different to if anyone/any other company pays you more than they should - get in touch with them asap before it gets out of hand. If they think you're trying to be underhand they're going to be less understanding

CLAPTON

what a sad old world it is

dannynixon

I have been overpaid 1200 from the Student Loan company and I have now finished university. They have demanded that I pay up now but I do not have it. I have asked if they can stick it to my total over the phone and they have said no. What should I do to try and persuade them to add it to my total?

DrFluffy

If they find out/realise they take it straight back/deduct it from your next installment. I've been there - it sucks!

DrFluffy

LillyJ wrote: »

I was overpaid, and they just told me it would be added to my loan amount. It is after all a profit making company and they actually gain money from lending to you. I needed the money so I kept it and it is on my total loan amount now

I was told it's only "bursaries/grants" that get added... They take loan money. Gits.

dannynixon

DrFluffy wrote: »

I was told it's only "bursaries/grants" that get added... They take loan money. Gits.

Where did you hear this? I have been paid a grant that they want back and they have simply told me that it can't be added on what I already owe. Should I write to them?