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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:
PearPickingPorky · 24/02/2022 16:06

This might be relevant for women who have been on maternity leave too, as their earnings for the year would be lower.

MNHQ
DawnMumsnet · 24/02/2022 16:49

Thanks, OP - we're moving it now Smile

student26 · 24/02/2022 17:00

Omg - I’ve just called up and gotten a refund. I cannot believe it. Within 13 minutes he went though it all and I’ve got a refund. Came at an amazing time. Thank you, thank you!!!!!

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pupcakes · 26/02/2022 10:30

Just bumping this - a 10 minute call to 0300 100 0611 and I got over £600 back!

CookPassBabtridge · 27/02/2022 18:57

Thanks OP, got mine back too! Only £59 as that's all I've ever paid but still Grin

GinandGobbledegook · 27/02/2022 19:02

I've nearly paid mine off. Am I better to keep any below threshold payments on my account to get it paid off quicker?

queenofcauliflower · 28/02/2022 12:18

Thanks for this - they went back to 2000/2001 for mine. The only 3 years I was under the threshold are when I was on maternity leave x 3 but I have claimed £216.00 back, yahoo!

Thank you!

Original poster
thehillswerebright · 28/02/2022 14:01

@GinandGobbledegook to be honest if I was you I would probably just leave it if I didn't need the money just now. I'm not likely to pay mine off because of my circumstances. It's really up to you though.

OP posts:
BernadetteRostankowskiWolowitz · 28/02/2022 14:05

This is so interesting!

I got my loan in 2003, then had most of 2012 and 2014 off for Mat Leave. I've never really earned much until recently but having some refunds would be very helpful!

BernadetteRostankowskiWolowitz · 28/02/2022 14:06

How do you word the request?

AwkwardPaws27 · 28/02/2022 14:11

Did you need any evidence you were under the threshold (I've got no idea where my tax statements are...) or can they see it on their system?

Original poster
thehillswerebright · 28/02/2022 14:46

@BernadetteRostankowskiWolowitz you just call the number and say you want to check if you are entitled to a "below threshold repayment" and they can check. I think another poster put the number to call. If I remember rightly you select the option for refunds and then it asks for your student loan number, if you don't have this you just hold until it puts you on to an actual person.

OP posts:
Original poster
thehillswerebright · 28/02/2022 14:47

@AwkwardPaws27 they can see it on their system so you don't need to do anything.

OP posts:
pupcakes · 28/02/2022 14:55

My £600 is in my account today!

Woohoo!

Yeah, I literally just said, I've been told I could get some money back for earning under the threshold some years and she went away and checked the last two years and came back with figures and asked if I wanted to withdraw.

BernadetteRostankowskiWolowitz · 28/02/2022 14:59

So does it go into your normal account or does it go back on to your loan balance as a credit?

Lucylocks222 · 28/02/2022 15:21

This is amazing. Just got over £300 for my May year. I’ll never pay mine off so got to claw it back where you can.
I reckon I might be due a bit at the end of this tax year too so I’ll try again in a few months.

Thanks OP. Made my day. Really needed this!

Original poster
thehillswerebright · 28/02/2022 15:38

@BernadetteRostankowskiWolowitz it goes into your bank account and the amount goes back on the balance of your loan. So for example your loan is £1000, you made payments of £100, taking your balance to £900. You earned under the threshold so you can claim £100 back but your balance goes back to £1000.

OP posts:
BernadetteRostankowskiWolowitz · 28/02/2022 15:54

This is mental - just rang, £719 coming back to me.

Bonkers. They are putting it into my bank account.

How does it affect the amount owed? Will I owe an extra 719?

BernadetteRostankowskiWolowitz · 28/02/2022 15:54

Ah ok I see.

Well my loan has only gone down 10% in the 19 years I've had it so I'm fine with the 700 going back on

Gloomandglow · 28/02/2022 16:04

Thank you so much for sharing this information. I've got £559 coming back to me.

LastMincePie · 28/02/2022 16:07

I was working full time and paying back my loan until I went on maternity leave. My child is disabled and I will most likely never be able to work again. I wonder if I would be able to get anything back. I will give them a ring. Thanks for the tip!

Arewethebadguys · 28/02/2022 20:45

Phoned today and got £347 back!! Thank you! Smile

Notdoingthis · 28/02/2022 21:02

Thank you OP. Though I am a bit confused. Shouldn't I be trying to pay it off? If the balance is higher I will have more deducted from my pay in the future won't I? More interest.
Though I left uni in 2005, so would I ever pay it back? It's confusing!

VladmirsPoutine · 28/02/2022 21:09

Thanks!! I wonder why not that many people seem to be aware of this, I certainly wasn't.

Blackandwhitehorse · 28/02/2022 21:10

I’m tempted but I’m due to pay mine off in maybe 5 years so maybe I should leave it