Overview
- New Student Loans Company data show about 1.1 million overpayments in the 2024/25 tax year, and MoneySavingExpert says combined past figures suggest up to five million people could be owed refunds.
- The mismatch between PAYE monthly deductions and annual repayment thresholds often triggers repayments for part‑year or variable‑income workers who ultimately earn below the yearly limit.
- Other frequent errors include being put on the wrong repayment plan by default, starting deductions before the April after leaving university, or having money taken after the balance was cleared.
- Borrowers can check and request refunds via their online Student Loans account, the Student Loans app or GOV.UK, with credit‑balance refunds after full repayment sometimes paid automatically if bank details are verified.
- Key thresholds cited include £28,470 for Plan 2 (common in England and Wales) and £32,745 for Scotland’s Plan 4, with reported refunds ranging from an average £240 to individual cases such as £949.