I’m paying off my student loan each month but the debt keeps on growing
I’ve been paying off my student loan since 2010 in monthly instalments of more than £200 via PAYE, yet the balance keeps growing and interest charges are ballooning. The problem seems to have begun when I changed jobs in 2012. Three years later, I discovered that none of my payments had been applied to my account.
The Student Loans Company (SLC) told me that, according to HM Revenue and Customs’s records, I don’t exist. HMRC insisted it was an issue for SLC. I sent four years’ worth of payslips to SLC twice (it lost the first lot) and, after 12 months, £12,366 was deducted from my debt. That didn’t include the cumulative interest charges. SLC insisted I was liable for these even though they were applied to an erroneously inflated balance.
Tha
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