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Student finance overpayment

Lucysimpson94

Sorry

(edited 6 months ago)

Reply 1

normaw

Volunteer Section Leader, Clearing and Applications Advisor

Original post by Lucysimpson94

So I’ve been over paid 3800 pound,
I’m aware I can make monthly payments if I ask them? Instead of the whole lot back? So I’ve read anyway..
So I’m just thinking I need to pay a lot of other debts off I’ve got into with struggling as a single parent at uni?
My point is will it be better me using this money to pay all my debts of and just have the one student finance debt to pay monthly?
Do they add any money on to overpayments? Helpppp
Thanks

It's best to let SFE know that this has happened. If you don't and they discover the error (which they will), they will ask for immediate repayment.

Reply 2

Scienceisgood

Are you sure this is an overpayment and they just haven’t given you your entire maintenance loan in one go as opposed to in separate payments?

Reply 3

Lucysimpson94

Original post by Scienceisgood

Are you sure this is an overpayment and they just haven’t given you your entire maintenance loan in one go as opposed to in separate payments?

No it’s a overpayment should only be for 2 weeks, I mean I could do with using it, just wondering if they add any APR on to the repayments of a over payment?

Reply 4

Scienceisgood

Original post by Lucysimpson94

No it’s a overpayment should only be for 2 weeks, I mean I could do with using it, just wondering if they add any APR on to the repayments of a over payment?

I would inform SF otherwise you may find yourself in more trouble personally. If you explain your situation, you may find them being lenient and say you can pay some of it now and some when you find yourself in a better position but I wouldn’t hold your breath!