UK graduates repaid £50m more in student debt than necessary in 2016
Tens of thousands of graduates in the UK paid £50m more than necessary in student loan repayments last year, new figures show. Data obtained by The Times through a freedom of information request show that around 86,000 former students overpaid in 2016, compared with only 52,000 in 2010. The average overpayment was £592, but 260 people paid back between £5,000 and £10,000 too much. HM Revenue and Customs (HMRC) has blamed the Student Loans Company (SLC) for the overpayment error, saying there are issues over whether the organisation is able to “ingest” the data on how much it has collected frequently enough to keep up. HMRC receives real-time data fromRead more ...