Old Style Student loan query
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ednawelthorpe829
Posts: 4 Newbie
Hello, I have a query regarding old style student loans and their 'wipe date'.
Loan 1 taken out 1995-96
Loan 2 " " 1996-7
Loan 3 " " 1997-8
Loan 4 " " 1998-9
Student was aged 23 at beginning of the course.
Having had a look at Martin Lewis' article, it seems to me that either these loans should become wiped when the student reaches age 50 (so in about 4 years time) or 25 years after the last loan was taken out, so in about 2025. Is this correct? Is there any information which would confirm this.
Loan repayments have been deferred every year due to lack of income or not working due to health reasons.
Loan 1 taken out 1995-96
Loan 2 " " 1996-7
Loan 3 " " 1997-8
Loan 4 " " 1998-9
Student was aged 23 at beginning of the course.
Having had a look at Martin Lewis' article, it seems to me that either these loans should become wiped when the student reaches age 50 (so in about 4 years time) or 25 years after the last loan was taken out, so in about 2025. Is this correct? Is there any information which would confirm this.
Loan repayments have been deferred every year due to lack of income or not working due to health reasons.
0
Comments
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ednawelthorpe829 wrote: »Hello, I have a query regarding old style student loans and their 'wipe date'.
Loan 1 taken out 1995-96
Loan 2 " " 1996-7
Loan 3 " " 1997-8
Loan 4 " " 1998-9
Student was aged 23 at beginning of the course.
Having had a look at Martin Lewis' article, it seems to me that either these loans should become wiped when the student reaches age 50 (so in about 4 years time) or 25 years after the last loan was taken out, so in about 2025. Is this correct? Is there any information which would confirm this.
Loan repayments have been deferred every year due to lack of income or not working due to health reasons.
Didn't you ever read the terms of the loan when you took them out?
http://www.legislation.gov.uk/uksi/1998/211/schedule/2/made
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Signed paperwork is no longer in existence therefore my asking for clarification.0
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ednawelthorpe829 wrote: »Signed paperwork is no longer in existence therefore my asking for clarification.
The paperwork just refers you to the terms set out in the legislation I linked to.0
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