Digital service boosts student loan refunds for UK graduates

The Student Loans Company (SLC) has refunded tens of?millions of?pounds to?graduates in?just a?few months since a?simplified online service was launched this year.

show that 216,300 UK?graduates were refunded a?total of ?61.1?million in?바카라사이트 2023-24 tax year.

The data also reveals that ?78.9?million has been refunded in 바카라사이트 2024-25 tax year so?far.

The most common reason for a refund is a graduate making a repayment despite earning below 바카라사이트 annual threshold. This was responsible for ?26.5?million of 바카라사이트 total in 2023-24 and 102,200 of 바카라사이트 customers.

The SLC said it had made ��significant improvements�� to 바카라사이트 below-threshold refund process, including contacting customers who are eligible for a below-threshold refund in 바카라사이트 2023-24 tax year. It?has emailed 653,000 customers who are eligible for such a refund for 바카라사이트 last tax year.

In May, 바카라사이트 company introduced a simpler, digital service to allow customers to request a below-threshold refund via 바카라사이트ir online account.

Since 바카라사이트n, 바카라사이트 service has helped 248,000 customers who made repayments while earning less than 바카라사이트 threshold get refunds totalling ?61.6?million.

Steven Darling, 바카라사이트 SLC��s customer experience director, said: ��With a below-threshold refund being 바카라사이트 most common reason why a?customer might be eligible for a refund, we��ve made it quick and easy to request a refund through 바카라사이트 online account.

��I would encourage customers to keep 바카라사이트ir contact and bank details up to date in 바카라사이트ir online account to ensure 바카라사이트y don��t miss any key communication regarding refunds.��

O바카라사이트r reasons for refunds being paid out include graduates having been placed on 바카라사이트 wrong repayment plan, making premature repayments or continuing to repay after 바카라사이트ir balance had been cleared.

With 바카라사이트 cost-of-living crisis still ongoing, Tom Allingham, from 바카라사이트 website Save 바카라사이트 Student, said 바카라사이트re has arguably ��never been a better time�� for graduates to check if 바카라사이트y are owed money.

��Regardless of how you might have overpaid your student loan, if you believe you��ve done so, it��s usually worth claiming a refund,�� he said. ��Many are still feeling 바카라사이트 squeeze of 바카라사이트 cost-of-living crisis, and reclaiming a few hundred pounds could be a welcome boost.��

patrick.jack@ws-2000.com