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  • FIRST POST
    • MSE Callum
    • By MSE Callum 18th Dec 17, 1:50 PM
    • 602Posts
    • 194Thanks
    MSE Callum
    Student Loan Overpayment
    • #1
    • 18th Dec 17, 1:50 PM
    Student Loan Overpayment 18th Dec 17 at 1:50 PM
    Hi!

    This is the discussion thread for the



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    • glider3560
    • By glider3560 20th Mar 18, 1:37 PM
    • 3,871 Posts
    • 2,538 Thanks
    glider3560
    Hi,
    I'd like to give some feedback on the original article.

    Could you please clarify the situation for students that have a year out on placement.
    Basically years 1, 2 & 4 studying at university and year 3 at work in industry.

    By my understanding, the student should not be repaying any of the student loan whilst on placement as they are still registered as students with the university.

    I have the feeling that if the month threshold is exceeded, then the money will be taken from the student.

    Is this something that Martin could raise with the SLC? Is there no way that the SLC can double check with the University?
    What's confusing is the SLC must know that the student has received a reduced maintenance loan and had their reduced tuition fees paid.

    Thanks
    Originally posted by jas431
    You only repay after graduating. SLC will only all HMRC to collect repayments from the April after graduation. Before that, nothing is collected (unless you tick the wrong box on the new starter checklist).

    • silvercar
    • By silvercar 20th Mar 18, 1:56 PM
    • 39,469 Posts
    • 163,562 Thanks
    silvercar
    Hi,
    I'd like to give some feedback on the original article.

    Could you please clarify the situation for students that have a year out on placement.
    Basically years 1, 2 & 4 studying at university and year 3 at work in industry.

    By my understanding, the student should not be repaying any of the student loan whilst on placement as they are still registered as students with the university.

    I have the feeling that if the month threshold is exceeded, then the money will be taken from the student.

    Is this something that Martin could raise with the SLC? Is there no way that the SLC can double check with the University?
    What's confusing is the SLC must know that the student has received a reduced maintenance loan and had their reduced tuition fees paid.

    Thanks
    Originally posted by jas431
    Repayments start the April after the course finishes, so the April after year 4.
    • Xxsomepeperagez
    • By Xxsomepeperagez 6th Apr 18, 10:41 PM
    • 1 Posts
    • 0 Thanks
    Xxsomepeperagez
    How, first post. Was quite excited to tot up all my student loan repayments and find that I'd paid too much. I'm over the threshold but have worked out using my p60 that I have paid over and above what I should have for many years. Just wanted to clarify before I ring them again, as I have read a few times in this thread, I am not allowed to reclaim that overpayment back as I was over the threshold? Surely that isn't fair, ive overpaid!

    Thanks for any advice. I did ring earlier but I hadn't got all the information to hand at the time so I didn't challenge them when they told me no refund due.
    • Ed-1
    • By Ed-1 6th Apr 18, 11:18 PM
    • 2,653 Posts
    • 1,426 Thanks
    Ed-1
    How, first post. Was quite excited to tot up all my student loan repayments and find that I'd paid too much. I'm over the threshold but have worked out using my p60 that I have paid over and above what I should have for many years. Just wanted to clarify before I ring them again, as I have read a few times in this thread, I am not allowed to reclaim that overpayment back as I was over the threshold? Surely that isn't fair, ive overpaid!

    Thanks for any advice. I did ring earlier but I hadn't got all the information to hand at the time so I didn't challenge them when they told me no refund due.
    Originally posted by Xxsomepeperagez
    You need to calculate based on the monthly thresholds if you're paid monthly. You haven't overpaid if that matches up. The annual threshold is only relevant if your total pay for the year is below it.
    • glider3560
    • By glider3560 7th Apr 18, 8:06 AM
    • 3,871 Posts
    • 2,538 Thanks
    glider3560
    How, first post. Was quite excited to tot up all my student loan repayments and find that I'd paid too much. I'm over the threshold but have worked out using my p60 that I have paid over and above what I should have for many years. Just wanted to clarify before I ring them again, as I have read a few times in this thread, I am not allowed to reclaim that overpayment back as I was over the threshold? Surely that isn't fair, ive overpaid!

    Thanks for any advice. I did ring earlier but I hadn't got all the information to hand at the time so I didn't challenge them when they told me no refund due.
    Originally posted by Xxsomepeperagez
    Unfortunately, that's the way it is. I'm in the same situation for the 17/18 tax year. As are many people who start/leave work part way through a tax year, or who receive uneven pay cheques, or a bonus lump sum. This is also the case for National Insurance Contributions.

    They assume your payments are correct in these cases. The only time the paymens would ever get corrected is on a Self Assessment tax return, however, the payments will only ever get adjusted up, you won't get a refund.

    Think of it as a bonus, since your loan will be paid off earlier and you'll attract less interest

    • Robots
    • By Robots 22nd Apr 18, 6:07 PM
    • 75 Posts
    • 1,124 Thanks
    Robots
    I moved from being employed to being self-employed in the 2017/18 tax year and this has put me under the threshold for paying my SL for that year. I made payments during my period of employment and, after seeing a feature Martin did on TV, called up SL helpline to ask if I could claim the payment back.

    The customer care operative told me that I could claim it back, but I wouldn't get the payment until one year later. Can anyone tell me if this is right? I've filed my tax return already.

    Thanks in advance and sorry if this has been covered elesewhere.
    Veteran gamer and clean freak
    • glider3560
    • By glider3560 22nd Apr 18, 6:10 PM
    • 3,871 Posts
    • 2,538 Thanks
    glider3560
    I moved from being employed to being self-employed in the 2017/18 tax year and this has put me under the threshold for paying my SL for that year. I made payments during my period of employment and, after seeing a feature Martin did on TV, called up SL helpline to ask if I could claim the payment back.

    The customer care operative told me that I could claim it back, but I wouldn't get the payment until one year later. Can anyone tell me if this is right? I've filed my tax return already.

    Thanks in advance and sorry if this has been covered elesewhere.
    Originally posted by Robots
    You can post both your P45 (or P60) and copy of the tax return to SLC. They can refund the overpayment using this information, before receiving details from HMRC.

    • Robots
    • By Robots 23rd Apr 18, 6:25 AM
    • 75 Posts
    • 1,124 Thanks
    Robots
    Brilliant, thanks!
    Veteran gamer and clean freak
    • Jliv
    • By Jliv 23rd May 18, 10:55 AM
    • 1 Posts
    • 0 Thanks
    Jliv
    Hi
    I changed from full to part time student. They had my graduation date as 2006 when it was in 2007. I started paying in 2007 which inclued a back payment from the previous year so I payed double the amount of student loan in one year. I started my course in 2002. Does this mean I will not be untitled to a refund.
    Every time I phone student loan I just get passed from one person to the next.
    Thanks
    • sheramber
    • By sheramber 23rd May 18, 1:33 PM
    • 7,081 Posts
    • 5,335 Thanks
    sheramber
    https://www.practitioners.slc.co.uk/products/part-time-undergraduate-education/part-time-tuition-fee-loan/repayment-and-changes-of-circumstances/

    part-time students may !!!8216;enter repayment!!!8217; while still on their course as they reach their statutory repayment due date either the April following the student!!!8217;s withdrawal from or completion of their PT course;or the April after four years have elapsed since the first day of the first AY of their course, whichever is soonest.
    • TF03
    • By TF03 25th May 18, 4:33 PM
    • 65 Posts
    • 9 Thanks
    TF03
    Hi all,

    Been meaning to do this for ages. Finally got around to it today. Didn't have any details to hand as they have been lost in numerous house moves etc.
    They managed to find my details, get everything updated and checked my account. Turns out I over payed and they are refunding me £230. Literally took 5 minutes!

    Thanks MSE! That'll go nicely towards our holiday.
    • kimmears
    • By kimmears 15th Jun 18, 2:18 PM
    • 13 Posts
    • 2 Thanks
    kimmears
    yes I understand about recaliming if u have paid back too early.
    but the amount u have paid will be deducted from the amount u owe.
    but then if u reclaim the amount u have paid early does this get added back onto the amount u owe or does it stay off.

    Ie: i owe £30,000... i paid early £400... i reclaim this early payment... but then wat do I owe still?? £30,000 or £29,600??
    thanks
    Originally posted by Forgetful
    I called about this today, I thought I overpaid when on Maternity leave, I did and they said I was entitled to a £689 refund. However, they said as this was refunding a balance already paid off the loan, this meant that the balance of the loan would increase by the same amount, so be aware that it will take you longer to pay off your loan if you request the refund
    • glider3560
    • By glider3560 15th Jun 18, 2:20 PM
    • 3,871 Posts
    • 2,538 Thanks
    glider3560
    However, they said as this was refunding a balance already paid off the loan, this meant that the balance of the loan would increase by the same amount, so be aware that it will take you longer to pay off your loan if you request the refund
    Originally posted by kimmears
    Surely that's a given? It's a loan, not a tax, so asking for a refund of payments will mean your balance increases.


    Also you'll get charged more interest as the balance is higher.

    • sheramber
    • By sheramber 15th Jun 18, 3:00 PM
    • 7,081 Posts
    • 5,335 Thanks
    sheramber
    Your loan is the same as borrowing money.

    You borrow £2000,
    you pay £500
    balance left £1500

    You claim refund of £500 so your borrowing goes up by £500

    you again owe £2000
    • Emilys
    • By Emilys 27th Sep 18, 9:42 AM
    • 5 Posts
    • 0 Thanks
    Emilys
    Student loan overpayment
    Hi,
    Just after some advice. I have managed to change the Plan I was on through the HR at work, but am I allowed to claim for a refund for the amount I already paid this year?
    Also, in 2016/17 year I paid almost £400 to student loan but I only took home £21195. Is that the right amount to have paid?

    Thanks!
    • janieg
    • By janieg 10th Oct 18, 7:10 AM
    • 5 Posts
    • 0 Thanks
    janieg
    The student loans company wrote to my daughter at her last uni address after the end of term so she never received the letter asking her where she was working, they never emailed or wrote to her home address so for the last few years they have put her interest up to 9% when she rang they said there was nothing they could do about it but would put it back to the normal rate now. She is not earning enough yet to start paying it off
    • BeckyAP
    • By BeckyAP 10th Oct 18, 3:05 PM
    • 49 Posts
    • 36 Thanks
    BeckyAP
    The student loans company wrote to my daughter at her last uni address after the end of term so she never received the letter asking her where she was working, they never emailed or wrote to her home address so for the last few years they have put her interest up to 9% when she rang they said there was nothing they could do about it but would put it back to the normal rate now. She is not earning enough yet to start paying it off
    Originally posted by janieg
    This is why, as part of the terms and conditions of your loan people are required to update their address. It's really easy to make contact with SLC and update them so they have acting accordingly with your duaghter.
    • pinkgirlythoughts
    • By pinkgirlythoughts 11th Oct 18, 11:23 AM
    • 2 Posts
    • 0 Thanks
    pinkgirlythoughts
    Possibly a daft question- if I graduated in Summer 2007, do I have to earn over the payment threshold for April 2008 in order to repay my loan (£15000), or over the payment threshold for each particular year since then (ie £17495 in April 2017, £17775 in April 2018, etc)? Just trying to work out if I've been overpaying or not.
    • glider3560
    • By glider3560 11th Oct 18, 6:14 PM
    • 3,871 Posts
    • 2,538 Thanks
    glider3560
    Possibly a daft question- if I graduated in Summer 2007, do I have to earn over the payment threshold for April 2008 in order to repay my loan (£15000), or over the payment threshold for each particular year since then (ie £17495 in April 2017, £17775 in April 2018, etc)? Just trying to work out if I've been overpaying or not.
    Originally posted by pinkgirlythoughts
    You pay the threshold for the year of the repayments, i.e. the one that has increased over time.

    • tysonpj
    • By tysonpj 12th Nov 18, 7:33 PM
    • 5 Posts
    • 2 Thanks
    tysonpj
    Payroll mistake.
    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
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