Over 100,000 People Have Unclaimed Money on Their Loans
Martin Lewis, the money-saving expert, has once again shared a great tip on how to get back money that may be owed to you. According to the Money Saving Expert (MSE) website, over 100,000 people have unclaimed money on their student loans, with some claiming up to £2,000.
Over One Million Graduates Overpaid Their Student Loans Last Year
Recent figures obtained through a Freedom of Information request made by MSE reveal that in the last tax year alone, over one million graduates overpaid on their student loans. This means that many more people could be due a significant payout.
How to Check If You're Owed Money
If you have a student loan, it's essential to check if you're owed money. You can do this by visiting the gov.uk website and checking your account balance. If you have money left to pay, it will tell you. However, it will also show if you're owed a refund. If you discover that you're owed money, call the Student Loans Company on 0300 100 0611 to begin the refund process.
You Can Claim Money Back Regardless of When You Finished University
It's important to note that you can claim money back on overpaid student loans regardless of when you finished university. The claim can go as far back as needed.
Testimonial: How One Person Got £2,000 Back
Francesca, a student, claimed a refund of £2,000 in overpaid student loans after watching Martin Lewis' video on student loan overpayments. She expressed her gratitude and said that the refund came at a time when she and her partner were facing unemployment and financial struggles.
Rising Student Debt and Potential Tax Overpayments
In recent years, university student debt has reached a staggering £182 billion, with some individuals owing nearly £200,000 each. Additionally, anyone over the age of 55 accessing their retirement savings may be overpaying tax. Martin Lewis' MSE has also shared tips on how to track down lost cash and how half a million retirees may face surprise tax bills due to a rise in state pension payments.
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