Getting Student Loan Payments Stopped

sarah_elton

About a month ago, I worked out that I'd just finished paying off my student loan. This is the good news.

I called SLC, told them how much I'd repaid through PAYE since their last statement, and they agreed that I'd just finished repaying. They issued a stop notice, and I got a letter confirming this.

I know the stop notice goes through HMRC to my employer. Called Payroll dept. and they haven't had it (it was issued on May 21st).

Called SLC, and they can do some manual thing if it doesn't get through, but not until a month has passed. So in a few days I have to call them up and give them my PAYE reference numbers.

I really want this all done before July 2nd, which is our next Payroll cut-off date. Otherwise, I'll make a repayment in my July salary, and have to write to SLC with all my payslips to prove I've overpaid and get it back.

Anyone else had this problem? Anyone else tried whatever manual thing it is that SLC can do?

It's frustrating knowing it's all paid off and they might still take more money, even if I will get it back eventually.

melancholly

unfortunately, this does seem to happen a lot.... i know that's rubbish for you, but it all seems very complicated to get it stopped (too many people in the chain maybe!). the upside is that you will get the money back that you've overpaid and that you've paid it off!

probably not what you wanted to hear though.

Loose_Cannon

Sarah - I was in exactly this position last year, so know all too well the frustrations you're experiencing.

Firstly: congratulations on paying off the loan!

Secondly, my advice is to be patient and persistent. You will not get results immediately, and it may take a month or two, but the SLC will see you right in the end.

When I dealt with them, they gave me a fax number so that I could fax them my payslips - make sure you ask for this number from whomever it is you're dealing with, because it's obviously far quicker than relying on the post. Even after the stop order had been issued, I had a deduction made on my next pay cheque. If this happens to you, just get on the phone immediately - they issued a refund cheque to me within 5 days and then that was the end of it.

So while this may not be what you want to hear: be patient, rein in the frustration, and just keep pestering them. It'll come good eventually!

Loose_Cannon

Further to my last post: I've just looked at my calendar from last year, and can tell you that the fax number was 0141 306 2005. They wanted my P60 and April & May payslips to check the loan was cleared, and actually confirmed that they owed me money. A deduction was made from my June payslip, so I called them on 0870 240 6298, faxed them the June payslip and the whole sum they owed me was refunded a week later.

sarah_elton

Thanks! It's just such a ridiculous system - the way that payments are collected by HMRC for a year before going to SLC. If I hadn't been keeping track I could easily have made repayments for another year before they realised I'd paid off my loan.

Because I used to self-employed as well as employed, I have to do tax returns. Because of this, my SLC file doesn't get finalized until Feb-March - almost a year after the tax year ends.

Last SLC heard, I owed over £3k but it's actually paid off. Cut out the middleman I say.