I am £19,000 in debt and have just found a quick way to get a refund from the government
A mother has discovered a quick way to get money back from the government, and she thinks it’s a huge improvement.
The 32-year-old woman is currently £19,000 in debt and is trying to get out of it by using various ways to save money.
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The woman known as @datmeisjeindebt on TikTok, shared a “surprisingly simple” request for student finance repayment on her social media page.
The government’s main student finance package consists of a student finance loan and a maintenance loan.
And people who studied at university or college may have already had one.
However, this mother discovered that anyone can file a refund request and it’s “simple.”
READ MORE ABOUT SAVING MONEY
You can find out if you are entitled to a refund by going to gettingrefund.campaign.gov.ukexplaining the four different options, meaning you are entitled to one option.
These are: ‘you earned below the threshold value’, ‘wrong type of plan’, ‘you started repaying too early’ and ‘paid off your loan’.
While talking to the camera, the mother explained step by step how to do this.
The mother says: “It is surprisingly easy to apply for a student grant refund.
“All I had to do was log into Google Student Finance, and then it asks for your email address, password, and secret answer.”
Since she hadn’t logged into her account in a while, the mother had to reset her password and remember words. She called the helpline and quickly got the password reset.
Once you have logged in, she explains that you will be taken to a page that says ‘Welcome to your student finance’.
She continues: “Then you have to scroll down and it says ‘view or manage your payments online’.
“Click on that and you will be taken to ‘manage your student debt’.
“Scroll down and you will see a big green button that says ‘start now’.
‘Big green button’
Scroll down and it says ‘what do you want to do?’ and you can log in to manage your student loan, or make a quick repayment without signing.
“So you click on ‘sign up to manage your student debt’, and click on ‘continue’ and you get to your balance.”
On the page she saw that her balance was £22,652.09. She then scrolled down to see the statement for 2024/25.
The mother continues: ‘Below it says: ‘Request a refund.’
Some have hundreds or even thousands of pounds, which is unbelievable
@datmeisjeindebt
“And underneath it says: ‘Pay back your student debt in full.’
“All you have to do is click on the request. You don’t have to write anything. I find it strangely easy.
“You scroll down and it tells you why you can request a refund and why you can’t. It says all you need is your bank account details and your email address.
“So click on the green button that says ‘Continue’.”
The system will then prompt you to check that your bank details and email address are correct and to correct them if they are not.
She says, “Then there’s a big green button that says, ‘Send an email request,’ and that’s all you do.
“Then they sent you an email saying they would notify you within 28 days, but I knew within a day.”
Unfortunately, the mother was not entitled to a refund, but many people said they had received it.
Am I entitled to a refund of my student grant?
According to getarefund.campaign.gov.uk There are four ways you may be entitled to a refund
You have earned below the threshold
– You will receive a refund if your annual income in a previous tax year was lower than the refund threshold.
Wrong plan type
– Get your money back if you made payments through the wrong subscription type.
Started paying back too early
– You will get your money back if you started repaying earlier than you should have done.
Your loan paid off
– Get your money back if you made repayments after you had already paid off your loan.
She says: “Some have hundreds or even thousands of pounds, it’s unbelievable.
“But I’m really glad I did it, even though I didn’t even know about it at first.
“So give it a try, because you will never pay off your student debt.
“It’s definitely worth getting a little bit of money back from them, I think. So good luck and I hope it helps.”
Her video has been viewed over 199,900 times and many took to the comments to share their thoughts and how much money they got back.
Someone wrote: “Student loans are often taken as a percentage of income above a certain amount and lenders have been known to charge you early even though you don’t owe anything.”
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Another added: “Student loans are forgiven after a certain number of years.
“If it’s unlikely you’ll be able to pay within that time frame, it’s worth getting back what you can.”
A third wrote: “I applied on Monday and then got an email on Tuesday saying I was entitled to £149.”
A fourth added: “I just did this and got £200 back.
“One for a maternity year and another for a random year.
“Chap did it over the phone and had to update the bank details, so he checked it.”
Someone else said: “I did it after I saw your last video.
“I always knew I paid when I shouldn’t have, and I got it back!
“I didn’t know this existed and since I’ll never pay it back, it’s worth it!”
Debt Relief Hacks
Managing and reducing debt can be a daunting task, but with the right strategies and discipline, you can make significant progress. Here are some top tips.
1. Make a budget
Track your spending: Keep track of where your money goes each month.
Set limits: reserve money for essentials and cut out unnecessary expenses.
2. Emergency fund
Initial target: Save at least £500 to £1,000 for emergencies, to avoid getting into more debt.
Long-term goal: Ultimately, a fund should be built up that will cover three to six months of expenses.
3. Debt Avalanche Method
Focus on high-interest debts: pay off the debts with the highest interest first and pay off the other debts as low as possible.
Save on interest: With this method you reduce the total interest paid over time.
4. Debt snowball method
Start small: Pay off the smallest debts first to build momentum.
Motivation Boost: The psychological benefit of quick wins can keep you motivated.
5. Consolidate debts
Consolidate debts: combining multiple debts into one loan with a lower interest rate.
Simplify payments: You can manage one payment more easily and potentially reduce your monthly obligations.
6. Negotiate with creditors
Lower interest rates: Ask for lower interest rates or more favorable terms.
Settlement Offers: Some creditors may accept a lump sum payment of less than the amount you owe.
7. Credit cards for balance transfer
0% APR Offers: Transfer high-interest credit card debt to a card with a 0% introductory APR.
Pay off the principal: Use the interest-free period to pay off the principal.
8. Increase your income
Side jobs: think of freelance work, sharing economy jobs or part-time work.
Sell unused items: Clean out your home and sell items you no longer need.
9. Save on expenses
View subscriptions: Cancel unnecessary subscriptions and memberships.
Frugal living: Develop habits that save money, such as cooking at home and using public transportation.
10. Automate payments
Avoid late payment penalties: Set up automatic payments so you never miss a due date.
Consistent Progress: Regular payments allow you to gradually reduce your debt.
11. Use windfalls wisely
Tax refunds, bonuses: use unexpected income directly to pay off debts.
12. Professional help
Credit Mediation: Seek advice from credit mediation agencies for tailor-made debt management plans.
Debt Settlement: Consider professional debt settlement services if you are at a loss.
13. Stay informed
Financial literacy: Continue to educate yourself about personal finance so you can make informed decisions.
14. Avoid new debt
Credit Freeze: Consider freezing your credit to avoid taking on new debt.
Cash Only: Use cash or a debit card to avoid accruing more credit card debt.
15. Change of mindset
Positive Attitude: Stay positive and stay committed to your goal of becoming debt free.
Remember, the key to successful debt settlement is consistency and discipline. Choose the strategies that work best for your situation and stick with them.
