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Overpaying Student Loan?
Last updated: Fri 23rd May 2008 at 15:57
A BBC investigation has uncovered cases of graduates being charged for debts they no longer have.
The investigation, in partnership with the NUS, has highlighted examples of students being forced to continue paying their student loans even after the whole cost has been repaid.
The problem occurs as the Student Loans Company, which administrate student loans, do not have access to information about how much a graduate has paid until the end of the financial year.
Because of this there is the possibility that a student will be forced to pay back more money than they owe.
Higher Education Minister Bill Rammell said “As from next year, student graduates will be able to predict when their repayments are due to cease, step out of the automatic system and repay manually through direct debit,” continuing to reassure that this means “that no-one will repay more than they’re due to.”
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