Overview
- Overpayments largely stem from PAYE deductions taken monthly even when a borrower’s annual income stays below the Plan 2 threshold of £28,470.
- Plan 2 typically covers those who studied in England between 2012–2022 and in Wales from 2012, with repayments set at 9% of earnings above the threshold.
- More than one million people overpaid in the 2024/25 tax year, adding to at least four million previous cases highlighted by Martin Lewis.
- Eligible borrowers can submit the refund form via GOV.UK or email it to below_threshold_refunds@slc.co.uk, and they receive an automated acknowledgement.
- The SLC says helpline waits are longer than usual; borrowers can still call 0300 100 0611 to check eligibility, and typical refunds such as around £508 have been cited in mid‑year starter examples.