Student loan direct debit help

[Bertiefrenchboy]

I received a letter from Student loan stating that my loan is due to be repaid in the next 12 months, and that I can now switch to direct debit payments (with PAYE you risk over paying). I set up my direct debit but it automatically set me up so my balance is paid in Nov 26 - which is 20 months, not 12. It is less each month than I’m paying now but I’d rather pay the same and get it done in 12. When I look at the maths, it comes out as £400+ more than my current balance. If I’m paying 4.3% interest, it’s still working out as more.
Am I missing something? Had anyone else had their DD set up over 20 months instead of 12?! Why is the total across 20 months more than my current balance?
Thanks in advance for any help.

I had a similar letter & rang then up as I wanted to pay it off within 12 months. Due to how their system worked if I had gone with the dd, there would have been a gap of about 2/3 months were i wouldn't have paid anything as it takes time to set it up.

They also will only let you pay the exact amount of the repayment calculation you are on (I wanted to pay more to make up for the few months ths where I wouldn't be paying anything whilst they set it up).

In the end it just wasn't worth it. I kept it with PAYE, made manual payments each month of about £20 & it was paid off within 12 months as I wanted.

I just logged in each month to see the balance go down, and after I made my last payment, they took more than I owed so I just rang them & they refunded me within a few weeks (was only £90).

If I was you, go back to the PAYE option and overpay. You can work it all out on your online account. I found it all really easy.