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Original poster

Student loan refund

217 replies

thehillswerebright · 09/02/2022 13:46

Just thought I would share this as I know a lot of people are struggling just now and I only found out about it recently.

If you have a student loan with SLC and don't make the repayment threshold for the year then you can claim back payments you have made. You can find the threshold limits on the gov website. I think in scotland it's £25k. If you get a refund then it means the balance goes back onto your loan so that's something to think of. I called today and they could go back about 10 years and check it was very simple.

OP posts:
Tippexy · 09/02/2022 13:58

Yes to this!

If you send them a DM on Twitter - @SLC_Repayment - they'll work out what's owing and process your repayment within the hour. I was well chuffed Grin

happyjules · 09/02/2022 20:10

Does it apply to the older, plan one, loans too?

Tippexy · 09/02/2022 20:14

Yes, mine is plan one Smile

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General money
happyjules · 09/02/2022 20:25

That's great. Can it be backdated to cover the tax year 20/21 as well I had no idea I could get a refund but could see when I started my current job that I wouldn't be over the threshold for that year.

Tippexy · 09/02/2022 20:29

Yes they look at all years of your loan! I sent them a message on Twitter and they sorted it out really quickly. I am no fan of SFE at all but on this at least they were efficient!

Original poster
thehillswerebright · 09/02/2022 21:11

They went back as far as 2011 with mine. I got my husband to call when he got home and literally 11 min he was on the phone to them and should have a refund within 4 days direct to his bank account. I think I read online that im on plan 4 whatever that means. They said I would have to call after April for this years.

OP posts:
Emmas85 · 09/02/2022 21:18

Sorry, being really thick but how do you find out if you're eligible? I don't have Twitter. Any other way?

AgnesNaismith · 09/02/2022 21:44

Out of interest what is the amount of refunds you got @Tippexy @thehillswerebright

Tippexy · 09/02/2022 21:45

call 0300 100 0611

Emmas85 · 09/02/2022 21:52

Thank you

pumpkinpie01 · 09/02/2022 21:58

Sorry for sounding thick , I don't have a student loan but my son has . Do you mean if you were paying it back and then your income drops you can claim back what you have already paid this year ?

EricScrantona · 09/02/2022 22:03

I don't understand. I thought the payments only came out of a monthly payslip if you're over the threshold.

Are you saying if some months the pay is different or six months of the year you don't earn enough you can reclaim what was over threshold for the six months you did earn more? Does that make sense? So say for 3 months you earn 3k each but for 9 months you earn 1k, as your annual is under the threshold you get what you paid in those three months back?

The fact I have a student loan means I should have the base intelligence to get this but hey ho!

Original poster
thehillswerebright · 09/02/2022 22:04

I'm getting about £350 back @AgnesNaismith

@pumpkinpie01 so there is a threshold before you need to pay amounts back, I'm in scotland so at the moment its £25000 but it changes yearly. A few years I've had a bonus etc so I get charged student loan but if I don't earn over £25k for the year then I can claim back what I've paid. The amount goes back onto the balance of my loan.

OP posts:
pumpkinpie01 · 09/02/2022 22:08

@thehillswerebright do you mean if he was earning over the threshold and was therefore paying back the loan and then his income dropped he gets back the payments he had made ?

Original poster
thehillswerebright · 09/02/2022 22:09

@EricScrantona yeah that's exactly it. I get paid weekly so the weeks I get a bonus or loads of overtime mean I sometimes pay something like £5 so you can claim it back. Only at end of tax year though.

OP posts:
pumpkinpie01 · 09/02/2022 22:10

In one year I mean ? As in say he earned £28k so he was therefore paying some back then his wage dropped to £19k he could get a refund on the payments he made ? 🤔

Original poster
thehillswerebright · 09/02/2022 22:12

@pumpkinpie01 I think it would depend on how much he earned overall for the tax year. So come April if it's under the threshold then he can claim back what he has paid. So for example I've had 2 lots of maternity leave those years I paid £101 and £98 in student loan but by the end of the financial year I hadn't earned close to the threshold so I've claimed both the amounts back. The thresholds for the each year is on the government website and I think they are different depending on which country you live in.

OP posts:
pumpkinpie01 · 09/02/2022 22:38

@thehillswerebright thank you , I understand now . He is on loan 2 , I have screenshot this and sent it to him and he says thank you and will look into it .

PinkiePonk · 17/02/2022 21:20

@thehillswerebright

Just thought I would share this as I know a lot of people are struggling just now and I only found out about it recently.

If you have a student loan with SLC and don't make the repayment threshold for the year then you can claim back payments you have made. You can find the threshold limits on the gov website. I think in scotland it's £25k. If you get a refund then it means the balance goes back onto your loan so that's something to think of. I called today and they could go back about 10 years and check it was very simple.

Can I just say thank you! I had £400 go into my account today because of you. You're amazing 🥰
pupcakes · 22/02/2022 17:56

@Tippexy

call 0300 100 0611
OMG. @Tippexy thanks for this phone number and OP @thehillswerebright thank you for this thread!!

One ten min convo later and I have £600 winging its way back to me. Unbelievable, SO needed right now.

THANK YOU!!!

(this should get moved to chat so everyone can see it I think?)

Original poster
thehillswerebright · 22/02/2022 21:03

@PinkiePonk @pupcakes

So glad you both got something back. It does make a big difference! Remember to call back after April for this years

OP posts:
Firefly2 · 23/02/2022 12:07

Seriously, THANK YOU! 15 minutes on the phone and I’ve cleared some of my credit card with the refund. Not sure if it was mentioned upthread but I was asking for an overpayment refund and was told I couldn’t have one…after a conversation it turned out I was supposed to be asking for a ‘below threshold payment refund’ - just in case anyone gets confused as I did.

pupcakes · 24/02/2022 15:20

I've reported your thread to see if it can be moved to chat...

MNHQ
DawnMumsnet · 24/02/2022 15:29

@thehillswerebright are you happy for us to move this over to our Chat topic, just so a few more people get to see it?

Original poster
thehillswerebright · 24/02/2022 16:03

@DawnMumsnet yeah of course

OP posts: