UK graduates over-repaid their student loans by a “jaw-dropping” £20 million last year, figures reveal.
An increase in over-repayments – the first since figures began – was the result of the Student Loans Company (SLC) staff working from home during the pandemic, according to the organisation.
SLC figures show that 52,200 graduates over-repaid their student loans in 2021-22 – a 15 per cent increase from 45,300 in 2020-21.
They over-repaid a total of £20.4 million to the SLC last year – 19 per cent more than the year before, and the first increase in over-repayments since comparable records began in 2015-16.
However, this was still below the £23.2 million over-repaid in 2019-20, and £53.6 million when figures began.
