If you graduated within the last 20 years, you may be eligible to claim up to £ 1,000 on your student loan repayment, according to money guru Martin Lewis.

The financial expert explained to viewers on the Martin Lewis Silver Show how they could have easily overpaid in their student finance repayments, which would be music to anyone’s ears.

“It goes back to 1998,” Martin said.

“You call the student loan company and ask for your money and you could owe £ 700, £ 800, £ 900.”

But how does it work? Well, for anyone who started higher education in or after 1998, the rules say you don’t to have to repay it from April after graduation, then it only applies as long as you reach the repayment threshold.

So if you started repaying your loan before April after graduation, first of all Congratulations on winning enough, but second, you may be eligible for a refund.

According to Money saving expert, more than 100,000 people have started repaying their loans too early in the past three years alone, which means that hundreds of thousands of people could also be owed money from previous years.

Some people are already claiming the smart advice paid off, with one person tweeting Martin: “Thanks .. I did this and got £ 900 back!”

Another wrote: “I called last week after seeing your comments and managed to get a little over £ 200 back. Thank you.”

Others said they would at least certainly look into it.

If you think this might apply to you, just call the student loans company at 0300 100 0611, and tell them that you think you started paying off your student loan by April after graduation and therefore want to get back the money you overpaid.

Pretty straightforward considering that it could earn you up to £ 1000.

Martin pointed out that it is always better to get the money back than to put it into your student loan, simply because of the way the loan system is calculated.

“In the vast majority of cases, it’s best to withdraw the money,” Martin said.

We’ll certainly take your word for it, Martin.