People Are Claiming Back Hundreds In Overpaid Students Loans And It’s Really Easy
Calling this number will let you find out whether you started paying your student loan back earlier than required.
Those who went to university will know the pain of seeing your payslip every month and the big fat '-' followed by how much student loan you've paid back each month.
It's a fact of life for graduates and probably the least stressful loan you'll ever have in your life, but what if we told you that you could be owed money by the Student Loans Company?
Thanks to finance guru and founder of Money Saving Expert, Martin Lewis, many people are finding out that they may have started repaying their student loans before they reached the threshold for repayments.
He appeared on Good Morning Britain to explain the new revelation that could see thousands of people get reimbursed for wrongly paying off their loans too soon.
You only start repaying your loan the April after you've graduated or when your salary reaches the repayment threshold.
In England and Wales if you started university in or after 2012 the repayment threshold is £21,000 and will rise to £25,000 in April 2018. If you started university before that or are in Northern Ireland or Scotland the threshold is £17,775 currently and will go up to £18,830 in April 2018.
Many have found that on calling the SLC their employee within their first year of graduating or before they've started earning enough and have therefore been owed hundreds, and in some cases, thousands of pounds.
It's really easy to find out if you've overpaid over the phone by calling 0300 100 0611. To make things easier it would be handy to have your customer number from when you signed up to your student loan and any p60's or payslips.
If you don't have these to hand, they should still be able to help, it will just make the process much easier.