Quit job. Can the SLC come after my savings?
Options
Getting_By_2
Posts: 51 Forumite
Hi.
My student loan is from 1999-2002.
So I quit my job. Over the last few years when I was working I was saving heavily to try and get a mortgage. Well that never transpired. So now I have a sizeable amount of savings in the bank.
Even though these savings have gone through the student loan filter (i.e they are from my wages and have been taxed accordingly) could they demand that I pay back my loan with this money?
This money is my future but I have read some stories of the SLC being very heavy handed nowadays.
Thanks.
My student loan is from 1999-2002.
So I quit my job. Over the last few years when I was working I was saving heavily to try and get a mortgage. Well that never transpired. So now I have a sizeable amount of savings in the bank.
Even though these savings have gone through the student loan filter (i.e they are from my wages and have been taxed accordingly) could they demand that I pay back my loan with this money?
This money is my future but I have read some stories of the SLC being very heavy handed nowadays.
Thanks.
0
Comments
-
The terms are still the same as when you signed up. You only pay from your income. If you have no income, you make no repayments. The balance then gets written off when you reach 65 (for loans taken out between 1998 and 2005).0
-
You won't pay based on your savings but you will be required to show how you are maintaining yourself without an income.0
This discussion has been closed.
Categories
- All Categories
- 343.4K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.8K Spending & Discounts
- 235.5K Work, Benefits & Business
- 608.4K Mortgages, Homes & Bills
- 173.2K Life & Family
- 248.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards