SUBSTANTIAL DEBTS AFTER UNIVERSITY / COLLEGE?

Substantial debts after University or college if you are a graduate repaying your debts through the PAYE system, we believe that these are refundable.

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CURRENTLY AN UNDER GRADUATE AT UNIVERSITY OR COLLEGE?

If you are an undergraduate, your loan may be unenforceable and have to be written off.

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DID YOU KNOW?
If you are a graduate and have made payment through your PAYE scheme, those payment should be repaid to you plus interest.

As an undergraduate or graduate you are saddled with substantial debts following your time at university or college. Tuition fees also look likely to increase beyond £9,000 per annum. The government even sold part of the book of student debt at a knockdown price to commercial lenders. You face pressure like never before.

Whether you are in your first, final year or postgraduate study financed through the Student Loans Company, your loan is unenforceable.

If you are a graduate and have made payment through your PAYE scheme, those payment should be repaid to you plus interest.

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STUDENT INFORMATION

The Financial Conduct Authority, (FCA) protects consumers,  ensuring that financial markets work well, are honest and work with integrity. They regulate over 56,000 firms.

The Student Loan Company was initially regulated by the Office of Fair Trading and had interim permission from the FCA, when the regulatory body changed in 2014. The FCA provided interim permission which lapsed on 30 June 2015. The SLC obtained an exemption through the Treasury in March 2015, from the need for authorisation under s19  Financial Services and Markets Act ( FSMA).

Although, we do not know the motives behind this move, this removed a valuable protection in dealing with the public. However, this is only a partial exemption. We believe that SLC will still have to comply with FSMA as well as coming under the scrutiny of the Financial Ombudsman Service. We also believe that we can challenge not only the current style of loans but also loans going back before 1998.

Consumer protection is key when it comes to consumer credit. The Financial Conduct Authority regulates the market and has been critical of bad practice, particularly from payday lenders to the excesses of the banking industry.

Student loans are controversial , not only because of spiraling tuition fees and the sale of historic book debts to commercial enterprises but also because the loans are considered as part of a mortgage application according to the FCA, thus affecting your credit score.


ABOUT US

WE are BORING people, used to dealing with technical issues, we have a legal and regulatory background. WE KNOW the regulations and how to apply them.


SCL Payment Refunds