What happens if you receive an overpayment?
An overpayment may happen when your student finance has already paid out loans or grants for living costs and other costs – such as childcare – and then reassesses the amount due.
If the amount of grant or loan to be paid has increased after the reassessment, Student Finance will reassess your application as soon as possible. Your instalments of grant or loan for the year will be increased to reflect the increased entitlement to support.
If the reassessment results in a reduction in entitlement to the grant or loan, the amount overpaid will be recovered in full from the next instalment(s) of that grant or loan. In recovery of payment, it can also include any other grants which remain to be paid within the current academic year.
Overpayment due to Student Finance error
If Student Finance has made an error and assessed you incorrectly – and this was of no fault of your own – it’s still part of their regulations to recover the overpayment made. However, Student Finance should then take into consideration the most appropriate method of recovery if you are unable to make the repayment in full. This is done by a case by case basis and we would advise booking an appointment to speak to a Student Money Adviser.
