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General Chat Thread, Student Loans Company - Mistakenly overpaid now want repaying - Advice? in General; Hello all, I'm posting this on behalf of a friend who is just about to finish Uni. He was given ...
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    Disaster's Avatar
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    Student Loans Company - Mistakenly overpaid now want repaying - Advice?

    Hello all,
    I'm posting this on behalf of a friend who is just about to finish Uni.

    He was given a student loan a few years ago which was of a mistaken amount by a couple of grand. They informed him only last year that it was a mistake and immediately demanded some sort of repayment. Being a student he needed all the cash just to live on so has managed thus far to avoid paying it back, however, they are now insisting on monthly repayments as soon as he starts earning after uni despite what his initial income will be - and it won't be much as he'll be working at HMV until he finds a relevant job.

    I'm not sure how much he has protested about this and I think it's unlikely he'll get away without repaying it, but surely they should just add it to his existing student loan which becomes repayable once over the earning threshold.

    Anyone experienced similar?


    Cheers

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    hardtailstar's Avatar
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    Or leave the country for five years.... I think that works to avoid paying it back?

    My friend moved to Australia after university and hes not had to pay it back.

    EDIT, he didnt intentionally move to not pay it back, he was offered a job there.
    Last edited by hardtailstar; 30th April 2014 at 12:51 PM.

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    This from the Independent website:
    "Myth 7: "Moving abroad will mean that I don't have to pay back my loan"

    This is one of those rumours that seems to spread amongst freshers like wildfire. Whether it's the thought of beating the system or just a good excuse to leave the country after graduating it, unfortunately, isn't true.

    If you do plan on jetting off for warmer climes after graduating then you will need to inform the Student Loans Company and fill out an Overseas Income Assessment form.

    You can try to run away but to play on a certain quote from a popular film: they will look for you, they will find you and they will make you pay."

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    hardtailstar's Avatar
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    Quote Originally Posted by witch View Post
    This from the Independent website:
    "Myth 7: "Moving abroad will mean that I don't have to pay back my loan"

    This is one of those rumours that seems to spread amongst freshers like wildfire. Whether it's the thought of beating the system or just a good excuse to leave the country after graduating it, unfortunately, isn't true.

    If you do plan on jetting off for warmer climes after graduating then you will need to inform the Student Loans Company and fill out an Overseas Income Assessment form.

    You can try to run away but to play on a certain quote from a popular film: they will look for you, they will find you and they will make you pay."
    He did that and not heard from them so he must be lucky!

    Hes not one to take advantage of this sort of thing, he found 50 in cash on the floor once and handed it into police.

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    I would contact Citizens Advice and see what they say

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    To be honest, if he owes the money then he owes the money and if he has to pay back as soon as he starts earning he has to pay back, whether he earns a lot or a little, the payments might well be relative.

    His debt isn't a student loan as it was mistakenly given him, and he spent money he wasn't entitled to. A student or not, when I was a student I knew how much money I was expecting so would have known if there was an issue.

    I am sure your friend is a nice person but he still has to pay back the money he took when he shouldn't have (by mistake as he claims or not).

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    A similar thing happened to me, thus far I've avoided paying it back - but they tell me that the loan element of my overpayment will be added to my overall student finance bill - but that I will have to arrange separately to pay back the extra grant. My suggestion would be to email them because you get a better answer than if you call up.

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