Britain's student loan administration has confirmed that roughly 71,000 graduates were issued incorrect loan balances due to a combination of an income reporting error by the national tax authority and a separate technical glitch. Of those affected, 41,000 saw their balances wrongly inflated. The remaining 30,000 had their balances incorrectly reduced.
The errors primarily affect Plan 2 student loans, the repayment scheme that applies to graduates who began undergraduate courses in England and Wales between 2012 and 2022. The Student Loans Company (SLC) confirmed the problem, caused by a technical issue within its own systems and a separate error in income data provided by His Majesty's Revenue and Customs (HMRC).
