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Certain student loan repayments which have been taken out of graduate pay packets have not been transferred to the Student Loans Company.
The graduates' loan accounts have had interest added onto them as the Student Loans company thought that they had not been paid back anything.
The Inland Revenue stated that this matter is being treated with urgency, with a view to resolving the situation as soon as possible. This situation was discovered when a graduate got in touch with the Student Loans Company to establish the balance she had outstanding.
For the last two years, the money to pay off her student loan had been coming straight out of her pay packet. According to her pay slips, she had repaid £1,800.
However, much to her horror, the Student Loans Company asserted that nothing had been repaid at all. In fact, the Student Loans company had charged her interest on the full amount of the original loan.
She went on to tell the the BBC about this fiasco. Thereupon, it turned out that the Inland Revenue's computer systems has experienced some problems.
Employers details highlighted that student loan repayments had arrived at the Inland Revenue. However, the Inland Revenue had failed to pass them on, as they ought to have, to the Student Loans Company.
The Inland Revenue stated that it had humbly apologised to all graduates affected. It went on to assure them that no one would lose out financially, once the problem had been resolved.
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