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Student loan debt

Student loans overpayments: How to claim a refund

Student loan overpayments happen for several reasons. If you think you have overpaid, you can apply to the The Student Loans Company (SLC) for a refund.

It is not easy to track how much you have paid to your student loan over time. But, it is worth taking a closer look at what you have been paying. Recently, it came to light that there is over £28m of unclaimed overpayments on England-based student loans.

Over 500,000 students are said to have been affected. You could be one of them.

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How are student loans repaid?

Your employer takes your student loan payments from your wages at the same time as your tax and national insurance. To start paying back a student loan, you must earn more than the threshold.

  1. The threshold varies depending on when you took out the student loan
  2. The amount you pay depends on how much you earn

Find out more about how student loans are repaid, thresholds and payment plans.

How could I have overpaid?

There are four ways in which you could have overpaid:

  1. You have made payments but you do not earn enough to start repaying your student loan
  2. You are on the wrong repayment plan
  3. You have finished paying off your student loan but payments are still being taken from your wages
  4. You started paying your loan too early

Find out more about how you could have overpaid.

What is being done to resolve the issue?

The Student Loans Company (SLC) is contacting those who have been affected to arrange refunds. But, as some time has passed, they have found that some graduate contact details are out of date.

You could miss out on a significant amount of money if the SLC cannot reach you.

I think I have overpaid my student loan - how do I claim for a refund?

If you think you have overpaid your student loan, you can get in touch with the SLC to seek a refund.

Take some time to check your payslips and your P40 forms for the last few years before you contact the SLC.

This will give you an idea of how much you have paid. Having these to hand will make it easier for the SLC to check your payment history. They may need your payroll reference number, so make sure you have this.

Find out more about getting a student loan overpayment refund on the SLC website.

A claims company says they can get me a refund on my student loan. Should I trust them?

Speak to the SLC directly about your refund.

  • You do not need a third party to do this for you
  • You should not pay a fee for any such service

I am dealing with debt from university. What should I do?

If you have debt such as loans, credit cards or overdrafts from when you were in university, free online debt advice is available.

You can also chat to one of our friendly debt advisors about your situation. Once we know what you are dealing with, we will look into any debt solutions that may be right for you.