The Student Room Group

Does Student Finance Overpayments have intrest?

I recently dropped out and owe like 3 grand to student finance as I've been overpaid. They're haggling me for money and I'm on a 0 hour contract! I'm tempted to start a payment plan of like £20 a month out my wages or something like that as I still need to pay rent, get food ect ect. But if it has intrest I might be screwed. Help?
It has an interest of 4.5% until the April after you leave your course, I believe
Original post by emily332332
I recently dropped out and owe like 3 grand to student finance as I've been overpaid. They're haggling me for money and I'm on a 0 hour contract! I'm tempted to start a payment plan of like £20 a month out my wages or something like that as I still need to pay rent, get food ect ect. But if it has intrest I might be screwed. Help?

Did you do the £20 a month? What was the interest? X