A number of Student Loan account holders have experienced delays in receiving statements from past financial years, or have received a statement which incorrectly shows deductions as ‘nil’.
This has been caused by delays in employers’ information on student loan deductions reaching the Student Loans Company.
Student Loan account holders were first advised of these delays last year, and most of the returns affected have now been processed. But there are some account holders still waiting for a statement from a previous year.
If you are one of those affected, 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 - the Student Loans Company will adjust your interest charge retrospectively to reflect when the repayments were actually deducted from your earnings.
The Student Loans Company will send you an updated statement when any outstanding repayment information is received.
Please contact the Student Loans Company if you have not received an update or are still awaiting any final statements by April 2008.