More than a million people could be in the same boat, Martin Lewis has said
A Martin Lewis fan has shared how ‘acting instantly’ led to her reclaiming more than £2,000.
Daniela, a mum-of-two from Loughborough, appeared on the Martin Lewis Money Show to detail her impressive ‘student finance win’. To pursue her career as a maths teacher, Daniela took out £16,000 to fund her degree, followed by an additional £9,000 for her teacher training. She explained that while watching the Martin Lewis Money Show last November, the financial expert highlighted that more than a million students had overpaid on their loans.
Daniela noted several reasons were mentioned, including breaks in employment. She explained: “In the last few years I had to give up my job when I had my eldest child.” She continued: “Once Martin shared that you could possibly have overpaid a student loan, I acted instantly.”
Daniela simply accessed her student finance account, reviewed her statement, and submitted a refund request. “Within 48 hours of my application, I was told I would get a refund of £2,213. It was a pinch-me moment. I was seven months pregnant. I’m not working, I don’t get an income. Having that money was really helpful.”
According to guidance from the Money Saving Expert (MSE) website, “reclaiming overpayments often only takes minutes”. Common reasons for overpaying include making repayments despite not reaching the earnings threshold, being placed on the incorrect student loan plan, continuing deductions after the loan has been fully repaid, and beginning repayments too early.
