According to Sky News, figures from the Student Loans Company (SLC) , obtained by Research Professional News, show that between 2009/10 and 2017/18, a total of £307,821,092 was overpaid.
In the past overpayments happened because of the way SLC received repayment information. It was sent once every 12 months, at the end of the tax year in April.
It meant that if a graduate repaid their loans during the tax year, for example in November, they will have been making overpayments for the rest of that tax year.
A spokesman for SLC said:”We pro-actively contact all customers that have over-repaid to make arrangements for a refund; customers who do not participate in the direct debit scheme can also claim a refund at any time by contacting us.”
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