Around 61.6 million has been refunded to UK graduates since May 2024 due to overpayments on student loans, with many eligible for refunds.
The Student Loans Company reported millions of pounds overpaid by graduates earning below the repayment threshold, highlighting the issue of unnecessary repayments.
Tom Allingham explained that graduates often overpay when their salaries fluctuate, causing them to temporarily exceed the repayment threshold.
Since the launch of a digital refund service, graduates can easily claim refunds for overpayments if they earn below the threshold at year's end.
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