"The overpayment amount doesn't take repayment arrangements into account"?
I'm in the process of sorting out my student finance for September after being forced to drop out of university last year. I was previously overpaid approximately £1.7k of my maintenance loan, which I have set up a repayment plan for.
I received my most recent award a few days ago, and the entire overpayment has been deducted from my maintenance loan for this year; however, I have already paid back a significant chunk of the money I was overpaid.
I've contacted student finance a number of times in the past few months to ask whether the amount deducted would automatically adjust according to how much had already been repaid, but they told me I needed to ask student loan repayment. I then contacted student loan repayment, who told me I needed to ask student finance. I've been back and forth a few times now, and still haven't gotten anywhere.
My award letter was added to my account this morning, and on the letter, it says, "Please note, the overpayment amount doesn’t take into account any one off repayments or ongoing repayment arrangements." It might be a silly question, but does this mean that the entire amount I was initially overpaid will be deducted from my maintenance loan this year, regardless of how much I've already paid back by September? If so, why?
I might be misunderstanding what it says on the letter, but since I can't seem to get a clear answer from the companies themselves, I wondered if anyone on here might have some insight.
I received my most recent award a few days ago, and the entire overpayment has been deducted from my maintenance loan for this year; however, I have already paid back a significant chunk of the money I was overpaid.
I've contacted student finance a number of times in the past few months to ask whether the amount deducted would automatically adjust according to how much had already been repaid, but they told me I needed to ask student loan repayment. I then contacted student loan repayment, who told me I needed to ask student finance. I've been back and forth a few times now, and still haven't gotten anywhere.
My award letter was added to my account this morning, and on the letter, it says, "Please note, the overpayment amount doesn’t take into account any one off repayments or ongoing repayment arrangements." It might be a silly question, but does this mean that the entire amount I was initially overpaid will be deducted from my maintenance loan this year, regardless of how much I've already paid back by September? If so, why?
I might be misunderstanding what it says on the letter, but since I can't seem to get a clear answer from the companies themselves, I wondered if anyone on here might have some insight.
Reply 1
Hi there, when we produce your award notification, this will advise of any overpayment at the time of generation. So if you are on a payment plan up to the start of the course, this will stop once the course starts and the recalculation of any remaining overpayment will be updated from that time to adjust any outstanding overpayment deductions. Thanks, Stephen.
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