suttonziaian
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Will the student loan overpayment accrue interest?

I have read a few replies from Student Finance Reps on the student room saying that the overpayment balance will remain the same, and will not go up with interest. Just wanting to confirm that this is still the case?

Thanks
Last edited by suttonziaian; 4 weeks ago
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SFE Nihad
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(Original post by suttonziaian)
Will the student loan overpayment accrue interest?

I have read a few replies from Student Finance Reps on the student room saying that the overpayment balance will remain the same, and will not go up with interest. Just wanting to confirm that this is still the case?

Thanks
Hi there,

The overpayment balance remains the same, but as it is part of your overall balance which accrues interest then the answer would be yes.

Regards,
Nihad
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suttonziaian
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(Original post by SFE Nihad)
Hi there,

The overpayment balance remains the same, but as it is part of your overall balance which accrues interest then the answer would be yes.

Regards,
Nihad
Thank you for your response.

For example, if my overpayment balance is £2000, the overall balance of my account would increase through interest, but the £2000 overpayment balance would remain the same (but reduce based on my monthly payments). Is this correct?

Thanks
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SFE Nihad
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(Original post by suttonziaian)
Thank you for your response.

For example, if my overpayment balance is £2000, the overall balance of my account would increase through interest, but the £2000 overpayment balance would remain the same (but reduce based on my monthly payments). Is this correct?

Thanks
That is correct.

Best,
Nihad
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