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IMPORTANT NOTICE IF YOUR STATEMENT HAS BEEN DELAYED
Last year, student loan account holders were advised that some delays in processing employers’ annual returns had held up some student loan repayment information and that details of these student loan deductions had yet to be passed to the Student Loans Company.
While most of the affected employers’ returns have now been processed, we are aware that some account holders are still waiting for a statement from a previous financial year, or have received one which incorrectly shows deductions as ‘nil’.
If this situation affects you, there is no need to worry. Any deductions that have been made from your salary will be credited to your student loan account, and your monthly wage slips and P60s do provide an accurate record of the repayments you have already made. You will not pay any additional loan interest as a result of any delays in your repayments being credited to your account because the Student Loans Company will adjust your interest charge retrospectively to reflect when your repayments were actually deducted from your earnings.
The Student Loans Company will send you an updated statement when any outstanding repayment information is received. If you have not received an update or are still awaiting any final statements by April 2008, please contact us.
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