The way in which student loans are repaid is under
reform to address the problem of students losing money due to
have complained of paying hundreds of pounds extra because they
were unable to stop repayment being taken from their account once
they had cleared their debt, reports Thisismoney.
However, the new changes will enable graduates to cancel repayments
once they reach the end of their debt, as well as being able to see
exactly how long it will take them to clear the outstanding
Ian McLaren Thomson, from the Student Loans Company, commented: 'We
are aware that when people come to the end of their loans, there is
often a very confusing period.
"We appreciate that trying to reclaim overpayments can be very
frustrating and this is why we are endeavouring to make changes to
make it easier."
Some 233,000 students are scheduled to finish their university
studies this summer.
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