Correction to some Plan 2 student loan balances.
The Student Loans Company (SLC) is contacting some Plan 2 repayment employees about corrections to their balances. Around 71,000 (approximately 1.3% of current Plan 2 debts) have been affected by technical issues.
SLC and HM Revenue and Customs (HMRC) are very sorry that this happened.
Those affected won’t need to take any action and regular repayment amounts will not change as a result of these issues. SLC will contact those whose balance has increased due to these issues.
Two technical errors meant interest had been worked out incorrectly for a minority of Plan 2 student loans. Any changes to the balance will be reflected in the next annual statement, which will be available in their online account before the end of September 2026.
One error was caused by a technical issue meaning the wrong income information was used when interest was calculated.
The other was the result of a HMRC income reporting error which affected people who had income through both PAYE and Self Assessment. Both errors have now been fixed, and interest will be applied correctly going forward.
If the borrower has already paid off your loan in full, they will not have to start repaying again and if they have paid off more than they should have, they will receive a refund.
SLC and HMRC state that they take their responsibilities to those affected seriously and remain committed to putting things right when issues occur.
PAYadvice.UK 22/6/2026