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🎓 SLC & HMRC Refund 2026/27💰 PAYE Overpayment Recovery📊 2026/27 Plan Thresholds

UK Student Loan Overpayment Refund Guide 2026/27

Check statutory student loan overpayment scenarios, including annual income under threshold, wrong plan deductions, early deductions, and post-payoff refunds.

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2026/27 Student Loan Plan Thresholds

Plan TypeAnnual ThresholdMonthly ThresholdWeekly ThresholdRepayment Rate
Plan 1£26,900£2,241£5179%
Plan 2£29,385£2,448£5659%
Plan 4£33,795£2,816£6499%
Plan 5£25,000£2,083£4809%
Postgraduate Loan£21,000£1,750£4036%

Step-by-Step Refund Claim Process

1. Check SLC Account

Log into your online Student Loans Company account to view your active plan and repayment record.

2. Correct Employer Payroll

If your employer has the wrong plan type, ask HR/payroll to update their software before filing a claim.

3. Gather Evidence

Collect payslips, P60, P45, and course end dates to substantiate your overpayment claim.

4. Submit Claim to SLC

Submit an online refund request or call SLC. SLC verifies earnings with HMRC before issuing payment.

Frequently Asked Questions (6 Detailed FAQs)

Yes. PAYE deductions use weekly/monthly thresholds, so bonus/overtime months can cause deductions even if your total income for the tax year is below your annual threshold. GOV.UK allows refund requests after the tax year once SLC confirms annual income with HMRC. For 2026/27, thresholds are Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, and Postgraduate £21,000.

From 6 April 2026, Plan 1 is £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, and Postgraduate Loans £21,000. Repayment rates are 9% above the threshold for Plans 1, 2, 4, 5, and 6% for Postgraduate Loans.

Yes. If your employer deducted repayments under an incorrect plan type, check your active plan in your online SLC account, ask payroll to update their records, and request a refund from SLC for the excess.

Yes. Student loan repayments normally start the April after you finish or leave your course. If PAYE deductions occurred before your statutory start date, SLC can investigate and process an early-repayment refund.

SLC sends a stop notice to HMRC when a loan is fully repaid. If a timing gap causes additional payroll deductions, SLC will refund the overpaid amount to your bank account.

Not always. While a refund returns cash immediately, it also restores that amount to your outstanding loan balance. If you expect to pay off the loan before write-off, keeping the repayment lowers total interest.

Official GOV.UK Sources

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2026/27 Plan Benchmarks

Plan 1 Threshold£26,900 / yr
Plan 2 Threshold£29,385 / yr
Plan 4 Threshold£33,795 / yr
Plan 5 Threshold£25,000 / yr
Postgraduate Threshold£21,000 / yr

Related Student Tools

🎓 Plan 2 Repayment Calculator →🎓 Plan 5 Repayment Calculator →