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  • FIRST POST
    • MSE Callum
    • By MSE Callum 18th Dec 17, 1:50 PM
    • 601Posts
    • 194Thanks
    MSE Callum
    Student Loan Overpayment
    • #1
    • 18th Dec 17, 1:50 PM
    Student Loan Overpayment 18th Dec 17 at 1:50 PM
    Hi!

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    • glider3560
    • By glider3560 13th Nov 18, 6:19 PM
    • 3,871 Posts
    • 2,537 Thanks
    glider3560
    My son was not paid for a month but then paid double the following month. As a result the student loan changed from 25/ month to 240. Big difference can he claim a refund
    Originally posted by tysonpj
    No, unless his entire year's earnings are less than the threshold.

    • bcah
    • By bcah 30th Nov 18, 6:25 PM
    • 4 Posts
    • 0 Thanks
    bcah
    Apologies if someone has already asked this; as with PPI refunds, does anyone know why statutory interest of 8% isn’t applied automatically to SLC refunds? In effect, they’ve held on to money that could technically have been in use elsewhere, or earning interest in a savings account. I left university in 2005 and could, in theory, have a refund owed to me from as early as April 2007; over 11 years ago - a particularly long time for it not to be in my own account!
    • CWAL
    • By CWAL 30th Dec 18, 10:47 AM
    • 1 Posts
    • 0 Thanks
    CWAL
    Maximum refund by SLC???
    Apologies if this has been answered, I have searched.

    I recently found out I was on repayment plan 1 with employer, when I should be on repayment plan 2. I have now changed this, easy peasy. However, When I contacted SLC the amount they were refunding me was not 9% of everything over £21k for tax yr 17/18, and 25k 18/19. I queried this with the 'somewhat inexperienced' call operator who said they have a maximum refund they can issue per month and it is £24.18. I have searched high and low, including the SLC website I can find nothing that mentions "a maximum refund". As far as I am aware this error was not my fault, I am payed via payroll, no voluntary payments whatsoever. It was only when I did some number crunching I spotted I was paying too much; its not obvious on any documentation from payslips, HMRC or SLC what plan you are on/should be. None of the systems sought to correct this for over 2 years. How do I go about getting the full refund?

    Some more information on this or if anyone can tell me where to go next.

    Thank you,
    • glider3560
    • By glider3560 30th Dec 18, 11:17 AM
    • 3,871 Posts
    • 2,537 Thanks
    glider3560
    Apologies if this has been answered, I have searched.

    I recently found out I was on repayment plan 1 with employer, when I should be on repayment plan 2. I have now changed this, easy peasy. However, When I contacted SLC the amount they were refunding me was not 9% of everything over £21k for tax yr 17/18, and 25k 18/19. I queried this with the 'somewhat inexperienced' call operator who said they have a maximum refund they can issue per month and it is £24.18. I have searched high and low, including the SLC website I can find nothing that mentions "a maximum refund". As far as I am aware this error was not my fault, I am payed via payroll, no voluntary payments whatsoever. It was only when I did some number crunching I spotted I was paying too much; its not obvious on any documentation from payslips, HMRC or SLC what plan you are on/should be. None of the systems sought to correct this for over 2 years. How do I go about getting the full refund?

    Some more information on this or if anyone can tell me where to go next.

    Thank you,
    Originally posted by CWAL
    The refund is the difference between the two thresholds, i.e. 9% of the Plan 2 threshold minus the Plan 1 of threshold.

    £24.18 per month is the correct amount for 17/18.

    When joining your employer, you should have filled in a New Starter Checklist, or provided a P45. Either of these should have shown the correct student loan plan.

    • tcallaghan93
    • By tcallaghan93 17th Jan 19, 10:57 PM
    • 2 Posts
    • 1 Thanks
    tcallaghan93
    re: bach
    Apologies if someone has already asked this; as with PPI refunds, does anyone know why statutory interest of 8% isnít applied automatically to SLC refunds? In effect, theyíve held on to money that could technically have been in use elsewhere, or earning interest in a savings account. I left university in 2005 and could, in theory, have a refund owed to me from as early as April 2007; over 11 years ago - a particularly long time for it not to be in my own account!
    Originally posted by bcah
    The regulations themselves do not specify this unless you have already pad it off, however the explanatory note states "If a borrower repays more than is owed to the Secretary of State or Welsh Ministers, any over-payment is repaid. Over-payment through PAYE is repaid with interest at the same level as is applied to the loans by the Secretary of State or Welsh Ministers (regulation 20)." (search "Student Loan Repayment Regulations 2009"])
    Call them and ask. If they say just keep complaining.
    • Digiem
    • By Digiem 20th Feb 19, 8:28 PM
    • 1 Posts
    • 1 Thanks
    Digiem
    Hi all,

    I've just a little question regarding reclaiming payments made before the April after graduation.

    I used the SLC to fund a foundation degree (in my case, FdSc -- classed as higher education and worth 2/3rds of a BSc). I then continued to do a BSc "top-up" course to turn this into a full degree. Would the graduation date used for purposes of repayments be that of the foundation degree or that of the full degree?

    I appreciate the article has the section "What if I studied another course after my first degree?", however I'm unsure whether foundation degrees would be classed under that...

    My hunch is that they will be seen as two separate courses -- despite being related to each other -- therefore payments should have started the April after the first course.

    Has anyone been in a similar situation?

    Thanks for any help
    Originally posted by SnowDawn
    Hi,

    It would apply after the first degree.

    Iíve just called them as I graduated in June 2012 from a three year course. Due to the course changing name in 2011/2012 year they have me down as graduating one course in 2011 and graduating (same course) again in 2012, so they claim that I should have been paying from April 2012. My actual repayments started in August 2012 (which was the first job I got after ending my course) are in their eyes correct. So now Iím just hoping my uni still has records of me 6 years on and can sort this mess out! Iím not holding my breathe though!


    So I would say your repayments would start after the first course ended due to it being a different title and classed as a different course on their useless system.
    • Kbb8573
    • By Kbb8573 21st Feb 19, 11:12 AM
    • 1 Posts
    • 0 Thanks
    Kbb8573
    Hi
    I repaid my loan a few years ago now and was wondering if I would still be eligible to see if I can reclaim any money
    Kirsty
    • _shel
    • By _shel 21st Feb 19, 3:21 PM
    • 2,355 Posts
    • 4,341 Thanks
    _shel
    Hi
    I repaid my loan a few years ago now and was wondering if I would still be eligible to see if I can reclaim any money
    Kirsty
    Originally posted by Kbb8573
    Yes potentially but why would you want to? You'd still have to repay the money so repayments would start again!
    • glider3560
    • By glider3560 22nd Feb 19, 6:15 PM
    • 3,871 Posts
    • 2,537 Thanks
    glider3560
    Yes potentially but why would you want to? You'd still have to repay the money so repayments would start again!
    Originally posted by _shel
    I assume they mean overpayments made through PAYE after the loan had been repaid.

    • _shel
    • By _shel 23rd Feb 19, 4:50 AM
    • 2,355 Posts
    • 4,341 Thanks
    _shel
    I assume they mean overpayments made through PAYE after the loan had been repaid.
    Originally posted by glider3560
    The thread is about those who started paying their loan earlier than legally required. This means they can get that money back. But would still need to repay the money.
    • Mile2go
    • By Mile2go 22nd Mar 19, 10:40 AM
    • 15 Posts
    • 5 Thanks
    Mile2go
    Hi,
    Just wanted to share my experience of reclaiming my overpayment...

    Started the process of reclaiming only to be told my graduation date was wrong so no over payments according to them... I contested and had 3 weeks being passed from slc to student finance England, with a few requests to get my uni involved. After these 3 very frustrated weeks I get told that actually there has been an error on my account all along and although I am entitled to £480 back in overpayment I actually owe slc £545 due to being overpaid a grant! Had I not had my graduation date corrected this error never would have been discovered so I am not feeling too clever about it all now...

    Just thought I should share but hope everyone else has better luck than me!
    • MrsTanyaB88
    • By MrsTanyaB88 22nd May 19, 11:45 AM
    • 1 Posts
    • 0 Thanks
    MrsTanyaB88
    I just had a failed attempt to reclaim ....

    I spent much of last year on maternity leave, so had some very big swings in my monthly salary over the tax year. I had student loan deducted 5 times totalling £757, my total taxable pay was only £800 over the threshold so really my repayment should only have about £70, but they have just told me that as my income did go over threshold I can't reclaim anything.

    Rubbish
    • glider3560
    • By glider3560 22nd May 19, 12:13 PM
    • 3,871 Posts
    • 2,537 Thanks
    glider3560
    I just had a failed attempt to reclaim ....

    I spent much of last year on maternity leave, so had some very big swings in my monthly salary over the tax year. I had student loan deducted 5 times totalling £757, my total taxable pay was only £800 over the threshold so really my repayment should only have about £70, but they have just told me that as my income did go over threshold I can't reclaim anything.

    Rubbish
    Originally posted by MrsTanyaB88
    What you've been told is correct. Any amount of earnings over the threshold means you can't claim back any of the repayments.

    • Fred D
    • By Fred D 22nd May 19, 12:53 PM
    • 1 Posts
    • 0 Thanks
    Fred D
    "Beware paying uni fees upfront" Article Clarifications
    Hi,

    My son is intending to go to university this October, and I would be hugely grateful if anyone could help me out with two things which I don't understand on this page.

    On the page "Beware paying uni fees upfront" in the section The calculations: Many will be paying unnecessarily, Martin Lewis says that in scenario 2 the Total repayment (factoring out inflation) is £23,000 - I have tried to see where this number comes from using the student loan calculator but to no avail - can anyone see where the £23,000 comes from with his given conditions?!

    Secondly, why is it that your loss is greater if your child earns below the threshold for their whole life (Scenario 1) than if your child actually pays some (even though a comparatively very small amount) off in Scenario 2?

    Thank you so much,

    Fred
    • tasticz
    • By tasticz 22nd May 19, 6:34 PM
    • 377 Posts
    • 112 Thanks
    tasticz
    What you've been told is correct. Any amount of earnings over the threshold means you can't claim back any of the repayments.
    Originally posted by glider3560
    I too failed with my reclaim... I paid around 600 when it would have been 50 or so but because of my salary was above the threshold for the year I cannot claim anything back
    • sjg666
    • By sjg666 17th Aug 19, 9:00 AM
    • 184 Posts
    • 170 Thanks
    sjg666
    Hi

    Apologies if this has been covered, I did have a rad brought to check but the circumstances others have been in are slightly different.

    I paid student loan on my salary for April-July. I am now on maternity leave and will be so until March next year which means my salary for the year will be below the threshold. Do I need to wait until the end of the tax year to reclaim it or could I call them now and explain that I wonít have earned over the threshold by the time next April comes around?
    • glider3560
    • By glider3560 18th Aug 19, 7:53 AM
    • 3,871 Posts
    • 2,537 Thanks
    glider3560
    Hi

    Apologies if this has been covered, I did have a rad brought to check but the circumstances others have been in are slightly different.

    I paid student loan on my salary for April-July. I am now on maternity leave and will be so until March next year which means my salary for the year will be below the threshold. Do I need to wait until the end of the tax year to reclaim it or could I call them now and explain that I wonít have earned over the threshold by the time next April comes around?
    Originally posted by sjg666
    I believe you need to wait until the end of the tax year for student loans, since your deductions to date have been "correct". For income tax, you can make a declaration to HMRC to get a mid-year refund, but the same does not apply for student loans.

    • gaz3524
    • By gaz3524 20th Aug 19, 10:58 AM
    • 4 Posts
    • 0 Thanks
    gaz3524
    interest
    Hi, just had a refund of £78 for overpayments back in 2011. Should SLC have compensated me for the interest lost?

    Thanks.
    • sheramber
    • By sheramber 21st Aug 19, 11:07 AM
    • 7,079 Posts
    • 5,335 Thanks
    sheramber
    Hi, just had a refund of £78 for overpayments back in 2011. Should SLC have compensated me for the interest lost?

    Thanks.
    Originally posted by gaz3524
    According to this https://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678775&_dad=portal&_schema=PORTAL you accrue interest fro 60 days only.
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