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got a letter from the Student Loans Company saying I am due a refund. Asks me to phone a 0300 number with my bank details.
Seems s a bit fishy to me.
Google the number and what do you get? Or go onto the SLC website and see if the same numbers there.
Loads of folk overpay as they don’t follow the final year rules - could that be you?
Looked for the number can’t find it, will Google now.
Edit it just found the number, seems kosher, rubs hands together and expects 50p refund, what to spend my windfall on ?
Final year rules?
Lots of people overpay, but usually you have to do the chasing to get the money back. I would phone the SLC on the phone number you have on your paperwork; if they do owe you a refund they will be able to put you through to the correct department. Also, unless your back details have changed they should be able to pay it back into the account you have been paying from?
Yeah if you’re PAYE you need to get them to change to a DD for the final year. They just setup a number in PAYE at the start of the year and don’t check your balance again until the end, so they don’t see if you’ve paid everything off
It's the student loans company, so yes it's a scam buuuut- yes this is part of their processes. Pretty much everyone on PAYE overpays and then has to wait forever for a refund. If you've reached the end of your loan it's probably that (if you overpay on a balance then they won't usually offer a refund, they just take it as an extra payment)
There's also a thing that's happening a lot with Erudio who bought out old loans- they're having to write off a lot of interest and charges because the SLC is so incompetent and most accounts had breaches of the CCA and other laws. So that could also lead to a refund.
Generally in life if it looks like a scam it probably is. In this case maybe not (I don't know much about student loans), however what I would advise is not calling that 0300 number and instead call a number you are sure is a safe one for student loans. Worst that can happen is you get redirected.
Loads of folk overpay as they don’t follow the final year rules – could that be you?
It's just about every 30 something year old in my place of work.