nationalunionofstudents on Birmingham Dailyhttps://birminghamdaily.co.uk/tags/nationalunionofstudents/Recent content in nationalunionofstudents on Birmingham DailyHugo -- gohugo.ioen-usFri, 19 Jun 2026 04:39:41 +0000HMRC Overcharges 40,000 Graduates in Student Loan Interest Errorhttps://birminghamdaily.co.uk/hmrc-overcharges-40000-graduates-in-student-loan-interest-error/Fri, 19 Jun 2026 04:39:41 +0000https://birminghamdaily.co.uk/hmrc-overcharges-40000-graduates-in-student-loan-interest-error/HM Revenue and Customs (HMRC) has mistakenly overcharged 40,000 graduates on their student loans due to an error in earnings data used to calculate interest rates. This glitch, originating from the tax authority during the Labour Party government era, caused incorrect earnings figures to influence interest rate brackets, resulting in some graduates paying more than they should have for several years. In a joint statement released Thursday, HMRC and the Student Loans Company (SLC) confirmed that around 41,000 Plan 2 graduates may see their loan balances reduced due to these overpayments.