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The current student loan repayment system could be overhauled, according to newspaper reports.
The Daily Mail revealed that authorities are currently looking at ways the repayment system could be changed to prevent graduates from overpaying on their student loan .
Under the current system, graduates automatically pay nine per cent of their salary over £15,000 to cover their student loan monthly repayments.
This amount is then paid to the Student Loans Company (SLC) by HM Revenue and Customs (HMRC) at the end of each year.
But according to the paper, some graduates are repaying more than they should as they find it hard to stop payments being made once their balance is cleared.
SLC spokesperson, Ian McLaren Thomson, explained: "We are aware that when people come to the end of their loans, there is often a very confusing period."
"We appreciate that trying to reclaim overpayments can be very frustrating and this is why we are endeavouring to make changes to make it easier."
Mr McLaren Thomson added that the SLC was considering a plan to let graduates who are within 12 months of paying off their loan switch to a direct debit system
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