Student loans: 28,000 people in NI have overpaid

Former students have overpaid approximately £15m since 2004

More than 28,000 students in Northern Ireland have overpaid their student loans since 2004.

They have overpaid approximately £15m in that time, although about 22,500 students have subsequently been refunded.

The figures have been obtained from the Students Loans Company (SLC) through a Freedom of Information request.

Graduates start repaying their loans when they are earn a minimum amount.

The money is taken from their salary by their employers, but sometimes graduates end up paying more than they owe.

Ellen Fearon, president of the National Union of Students - Union of Students Ireland (NUS-USI) said the SLC should be more proactive in contacting students who had paid more money back than the amount they had actually been loaned.

Almost half a billion pounds has been overpaid by students across the UK since 2004.

In Northern Ireland, 28,508 students have paid too much back on their loan.

Of these, 22,604 have subsequently obtained a refund.

'Check your payslips'

Ms Fearon said the number of students who were overpaying loans was too high.

"The money should be repaid to the individuals concerned, and there needs to be as much emphasis placed on locating graduates who have over-repaid as would be on tracking down those who owe money," she said.

"I would encourage all those who have repaid their loans to consider getting in touch with Student Finance NI to see if they are eligible for a refund and ensure their details on record are correct.

"It is also important for graduates to check their payslips and student loan statements to understand when the loan expires, which can address any overpayment."

In a statement to BBC News NI, the SLC said it proactively contacted students who had overpaid at the end of their loan to make arrangements for a refund.

A spokesperson said it had made a number of improvements to help customers avoid repaying too much over the past 18 months.

They also said that when they held up to date customer details they would try to automatically refund customers who had over-repaid, directly into their bank accounts.

The company said students who did not participate in the direct debit scheme, or who had over-repaid in a given tax year, could also claim a refund at any time by contacting the company.

Tuition fees

Students who live in Northern Ireland currently pay £4,395 a year in university tuition fees, but £9,250 a year if they go to university elsewhere in the UK.

The majority takes out a loan to cover tuition fees and a maintenance loan to pay for living costs.

These maintenance loans range from £3,750, if they remain in Northern Ireland, to £6,780 if their degree course is in England.

Graduates begin to repay their tuition fee and maintenance loans after they finish their degree courses and when they are earning more than £19,390 a year.

According to previous SLC figures, Northern Ireland's outstanding student debt runs to billions of pounds.

According to the most recent statistics from the Department for the Economy more than a quarter (27%) of Northern Irish students go to universities elsewhere in the UK to study.