Millions of people are owed money back the MoneySavingExpert founder says
Martin Lewis is urging millions of people to check if they have wrongly overpaid their student loans, saying some could be owed thousands of pounds. The MoneySavingExpert founder says that thanks to a new Freedom of Information request, it's been revealed that in the 2022/23 tax year, over a million former UK students overpaid.
Lewis said in his recent MSE newsletters: "Some get £100s back just with a quick call, others may have to push harder, as Fiona emailed: 'Thank you so much. I knew something wasn't right when I lodged my tax returns, and reading Martin's article was the catalyst for a sustained attempt to work out what had happened. Finally, I received £3,773 back.
On the MSE website, it says if you want to try and claim money back, you should get in touch with the Student Loans Company on 0300 100 0611 . Explain your situation and ask to reclaim the money you're owed. If you're reclaiming because you think you earned under the threshold in a tax year, you'll need to wait until that tax year is finished. MSE experts say to be prepared before ringing. To make the process smoother see if you can dig out the following:
You should also check that you were on the right student loan plan for you. This accounted for 165,000 of loans wrongly repaid during the last financial year.
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