Student Finance Overpayment

I have had a letter from Student Finance England saying that I was overpaid on my maintenance loan in 2023-24. They say my parent's income for the year was over £35,000. However, my parents have their tax returns, which show that they only had a combined income of £10,000. I don't think they submitted this information at the time as they were struggling and did not know this was needed, and then did not apply for a current year assessment which I know they should have done.

So I was entitled to the maintain loan, but they forgot to send in for a current year assessment. I still have the tax returns which I can send if this is possible to do that? I may actually have been underpaid.

What can I do about this as this is very stressful as you can imagine?

Reply 1

big-time-tide

The overpayment is on the basis that their income was the same as years before (but it actually went down by more than 15% but they did not send this into SFE by accident) so if their actual income was accounted for, then I do not owe the overpayment. Hope that makes sense!

Reply 2

Graeme SFE

Official Rep

Original post

by big-time-tide

I have had a letter from Student Finance England saying that I was overpaid on my maintenance loan in 2023-24. They say my parent's income for the year was over £35,000. However, my parents have their tax returns, which show that they only had a combined income of £10,000. I don't think they submitted this information at the time as they were struggling and did not know this was needed, and then did not apply for a current year assessment which I know they should have done.
So I was entitled to the maintain loan, but they forgot to send in for a current year assessment. I still have the tax returns which I can send if this is possible to do that? I may actually have been underpaid.
What can I do about this as this is very stressful as you can imagine?

Hi there,

Just to clarify, did your parents complete a Current Year Income (CYI) form for the 23/4 year, or for another year?

It's just we don't normally ask to see their financial evidence unless they've completed this form at some point.

Thanks, Graeme

Reply 3

big-time-tide

Hi they said at SFE that 2021/22 tax year is current being used I believe this is when they filled it in.

Reply 4

big-time-tide

Original post

by Graeme SFE

Hi there,
Just to clarify, did your parents complete a Current Year Income (CYI) form for the 23/4 year, or for another year?
It's just we don't normally ask to see their financial evidence unless they've completed this form at some point.
Thanks, Graeme

So I am guessing this is when they filled it in :smile:

Reply 5

big-time-tide

They did not fill one in for 23/24 which I know they should have done as income went down by 30% that year. So if it makes sense on their actual income for that year I would not owe the overpayment amount. So the overpayment is based on my parents income not changing but it did so if 23/24 tax year was used I would not have been overpaid and owe this back.

Reply 6

Graeme SFE

Official Rep

Original post

by big-time-tide

Okay, thanks - it would be worth accessing your account so we can check this - it may also be possible to consider a new CYI application though we'll need to see the full details.

Can you try sending us a live chat on your account now? One of our team will be able to help.

Thanks, Graeme

https://www.gov.uk/student-finance-register-login

Reply 7

big-time-tide

Original post

by Graeme SFE

Okay, thanks - it would be worth accessing your account so we can check this - it may also be possible to consider a new CYI application though we'll need to see the full details.
Can you try sending us a live chat on your account now? One of our team will be able to help.
Thanks, Graeme
https://www.gov.uk/student-finance-register-login

Hi they said that I need to send this in which I am doing by post, but that it is up to the discretion of the assessor is this correct?

Reply 8

Graeme SFE

Official Rep

Original post

by big-time-tide

Hi they said that I need to send this in which I am doing by post, but that it is up to the discretion of the assessor is this correct?

In terms of a 23/24 CYI form, yes - the tax year has ended, so the assessment team will want to know why you didn't apply for it at the time. So, along with the form we'd suggest including a cover letter explaining why you didn't apply for it at the time: it will then be up to the assessment team to decide if they can accept this.

Thanks, Graeme