The Student Room Group

Student loan overpayment

I am going into my second year this coming september and recently found out that I will be getting a lower loan than last year. I contacted SFE and they said they hadn't checked with HMRC last year but this year they did. The person also said if I asked to check my parents income and they found I received higher loan than I should've, they will ask to pay back. Mind you, I did not ask for it to be checked as I didn't want to risk paying such a huge amount back.

They did recheck my parents income and I have to payback £3776 which they have cut off from my next years loan. My next years loan is now diabolically low and would not sustain me at all, especially in London.

I'm really not sure what to do as my parents are not able to make up the loan they cut off. This is so frustrating as we put all the right details but SFE just didn't check HMRC last year.
Hi there,

Is this for the 2024/25 academic year?

Thanks, Drew
Reply 2
Original post by Drew SLC
Hi there,
Is this for the 2024/25 academic year?
Thanks, Drew
Hi! Yes it is.
HI there,

You can apply for Financial Hardship to see if they can defer the overpayment for a year. You would need to complete the Financial Hardship form and this can be uploaded from your online account. You will also need to upload the last 3 months of your bank statements in your name only and you can also upload any other evidence that you have that shows debts/obligations you need to pay that may not be on your bank statements. Once received it can take 2-3 weeks to process.

https://media.slc.co.uk/sfe/2223/ft/sfe_financial_hardship_confirmation_form_2223_o.pdf

Thanks, Drew
Reply 4
Original post by Drew SLC
HI there,
You can apply for Financial Hardship to see if they can defer the overpayment for a year. You would need to complete the Financial Hardship form and this can be uploaded from your online account. You will also need to upload the last 3 months of your bank statements in your name only and you can also upload any other evidence that you have that shows debts/obligations you need to pay that may not be on your bank statements. Once received it can take 2-3 weeks to process.
https://media.slc.co.uk/sfe/2223/ft/sfe_financial_hardship_confirmation_form_2223_o.pdf
Thanks, Drew

Would this then affect my maintenance loan for year 3 of university?
Hi there,

Yes, we will only defer the overpayment until the end of the academic year. If you are still in financial hardship in that particular academic year, you can apply for financial hardship for that year again.

Thanks, Clare
Would this then affect my maintenance loan for year 3 of university?

Hi there,

Its correct if you have an overpayment we try to claim this back from the following years finance. If you think this would then put you into financial hardship, you can apply to defer this as Drew mentioned above. Overpayments are only deferred to the end of the Academic Year, in extreme circumstances we will defer to the end of their course but this will be fully noted on the account. This will become repayable once you graduate from your studies.

Thanks,
Claire

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