Has a company treated you unfairly? Our consumer champion is ready to help you. For how to contact her, click here.
Dear Katie,
In May my wife and I decided to pay off our son’s £18,853 student loan, if we were concerned about the high interest being charged.
He’s aiming for a career in the police force and we didn’t want to make paying off the loan a burden, especially with the cost of living soaring.
Our payment was received by the Student Loans Company on May 31, but to this day it has not been credited to his loan account.
Our son has called the SLC numerous times, but the staff only offers to make a “further request” to the finance department.
We have heard nothing from them. When our son asked to speak to a supervisor, he had to wait a long time on the phone, only to be told they would try to call back within 48 hours. Nobody called.
We find it unacceptable that the SLC failed to allocate the funds received and subsequently failed to respond to my son’s calls or requests from his own helpline.
– IA, by email
Dear reader,
This incredibly generous and supportive gesture on your part has turned into a nightmare, with your money seemingly disappearing into thin air. This five-figure sum was a significant portion of your savings, and you were understandably panicked. I have no idea why the SLC didn’t share your sense of urgency on the matter, but I asked to get its act together and get it sorted right away.
The SLC said you provided a reference number for the account that was too long when making the transfer. This meant that the account could not be found, so your money went into a “suspense account” operated by the SLC, but not owned by a person.
It added that an “administrative error” on its part had unfortunately resulted in a further delay in locating the account. However, my intervention seemed to put it into action.
Within days, the loan account showed a balance of zero. This came as a huge relief to all of you. As you say, it’s tough times to be a young person making his way in the world. But I have no doubt that your son’s route will be lighter and brighter without this ball and chain of debt that follows him.
I wish him all the best with his career in the police force.