Student Loans Company refund service passes 1.6 million requests
The Student Loans Company says its online Digital Refund Service has handled more than 1.6 million refund requests since launching in 2024. The milestone was announced on 29 October 2026, alongside a statistical release on student loan refunds. Most refunds fall under the Below Threshold category, for people whose earnings over the year stayed under the annual repayment threshold.
What does it mean?
If you repaid your student loan through your pay and ended up overpaying for the year, you can ask for the money back through your online SLC account. In 2025/26, 416,400 people received a total of £97.6m this way, paid straight into their bank accounts.
Who is affected?
Student loan borrowers who repaid through PAYE and earned less than the annual repayment threshold over the tax year.