l{"id":1345334,"date":"2024-11-09T12:06:00","date_gmt":"2024-11-09T12:06:00","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/former-students-urged-to-check-for-loan-refunds\/"},"modified":"2024-11-09T12:06:00","modified_gmt":"2024-11-09T12:06:00","slug":"former-students-urged-to-check-for-loan-refunds","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/former-students-urged-to-check-for-loan-refunds\/","title":{"rendered":"Former students urged to check for loan refunds"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">University graduates across the UK are being urged by a campaign group to check whether they are due a refund on their student loan repayment after it was revealed that nearly \u00a3200m was overpaid last year.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Save the Student&#8217;s comments come after figures were published which show that hundreds of thousands of people currently paying off their loans are eligible for a share of \u00a3184m in refunds.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">It is easy to check whether a refund is owed by logging on to the government&#8217;s Student Loan Company portal, where individual refunds could range from tens of pounds to more than \u00a31,000.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Tom Allingham from Save the Student said for many getting a refund could make a world of difference.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Charlotte Gill is one such former student who was eligible for a refund on her loan payments, to the tune of \u00a368. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">She said it did not make a huge difference &#8220;but every little helps when you are a student&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;At the end of the day, it&#8217;s your money, it\u2019s not the government&#8217;s money, so if you&#8217;ve got any entitlement to a refund then absolutely take it,&#8221; she said.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Martin De&#8217;Ath received \u00a3396 in his refund and says the substantial payment made him question how he could have used it in the 10 months he was without it.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;I was definitely pleased to get it back at least,&#8221; he said.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">There are four reasons people may be eligible for refunds.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The main reason, behind \u00a3146m of the total, is that repayments were taken from people despite them not earning above the annual threshold at which point repayments automatically kick in.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">This can happen when someone earns above the monthly threshold which triggers the beginning of loan repayments, due to things like to taking extra shifts, getting a new job or receiving a bonus, but their annual earnings might still fall below the yearly threshold.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Since May, those who fall into this category have been able to use a <!-- --><a target=\"_blank\" href=\"https:\/\/www.gov.uk\/sign-in-to-manage-your-student-loan-balance\" class=\"sc-c9299ecf-0 bZUiKB\" rel=\"noopener\">new service offered by the SLC to request refunds online<!-- --><\/a>. In the first six months of the service, 418,000 people have done so.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Other reasons may be that former students are charged repayments before they are required to pay, which is generally in the April after they finish studying.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Some people may have been put on the wrong payment plans by their employer, while others may have continued making payments after their loan had been paid off in full.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Any money overpaid does count towards the full repayment of the loan, and may save graduates money in the long run on interest.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">However, as Mr Allingham said, many university graduates may need the cash for their day-to-day expenses.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;It is definitely worth doing, particularly even with the cost of living crisis still lingering on a little bit, having that extra boost of cash right now could make a world of difference,&#8221; Mr Allingham said.<!-- --><\/p>\n<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/c86q4qz7dnpo\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>University graduates across the UK are being urged by a campaign group to check whether they are due a refund on their student loan repayment after it was revealed that nearly \u00a3200m was overpaid last year. Save the Student&#8217;s comments come after figures were published which show that hundreds of thousands of people currently paying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1345335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1345334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former students urged to check for loan refunds - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.businesstelegraph.co.uk\/former-students-urged-to-check-for-loan-refunds\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former students urged to check for loan refunds - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"University graduates across the UK are being urged by a campaign group to check whether they are due a refund on their student loan repayment after it was revealed that nearly \u00a3200m was overpaid last year. 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