Student Loans Company
SLC has provided customers with an easier way of requesting a below threshold refund.
Student loan deductions are taken based on a pay period weekly, fortnightly or monthly - and this means that customers can have a payment taken if they go above the pay period threshold. For example, this could happen if a customer is paid a bonus or works overtime. However, at the end of the year, if their total earnings are below the annual threshold, the customer is eligible to ask for a refund.
Call waiting times to our repayment helpline are currently far longer than usual, due to very high volumes from customers enquiring about refunds. To help customers, SLC has introduced a refund request form which is available online and is the easiest and quickest way for customers to request a refund. Customers can access and download the form at: Getting a refund from SLC - GOV.UK (www.gov.uk)
Once completed, customers can email it tobelow_threshold_refunds@slc.co.uk
Customers will receive an automated reply to confirm the form has been received and a refund will be processed in around 28 days. SLC requests that customers who have submitted a refund request do not contact them within this timeframe. SLC will contact customers when the refund request has been calculated and processed. If more information is required, or if a customer is not eligible for a refund, SLC will contact the customer directly.
Customers can only apply for a refund from previous tax years. Any refunds for this current tax year (6 April 2023 to 5 April 2024), cannot be requested until after the end of the tax year.
Before submitting the form, customers shouldcheck if theyre due a refund using the dedicated pageRepaying your student loan: Getting a refund - GOV.UK (www.gov.uk).
Customers who think they might have made a repayment in a previous tax year but earned below that tax years annual repayment threshold can check their previous years statements on their online accounthttps://www.gov.uk/sign-in-to-manage-your-student-loan-balance
Repayment thresholds vary depending on what loan plan a customer is on, to check the plan type visit:https://www.gov.uk/repaying-your-student-loan/which-repa