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  • FIRST POST
    • MSE Eesha
    • By MSE Eesha 2nd May 17, 12:07 PM
    • 95Posts
    • 22Thanks
    MSE Eesha
    When will your student loan be written off?
    • #1
    • 2nd May 17, 12:07 PM
    When will your student loan be written off? 2nd May 17 at 12:07 PM
    This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.





    Please click 'post reply' to discuss below.
Page 1
    • ccon
    • By ccon 4th May 17, 8:09 AM
    • 3 Posts
    • 1 Thanks
    ccon
    • #2
    • 4th May 17, 8:09 AM
    • #2
    • 4th May 17, 8:09 AM
    I am 47 and nearly completed an engineering foundation course at Liverpool John moores university and will be starting the degree properly this September.
    Does any body know if you stop paying the student loan when you reach retirement age as, assuming I do a sandwich year I'll be 52 when I graduate and if the thirty year rule applies will be paying it when I'm 82!
    Anyone got any idea?
    Thanks Chris.
    • Ed-1
    • By Ed-1 4th May 17, 12:28 PM
    • 2,111 Posts
    • 1,128 Thanks
    Ed-1
    • #3
    • 4th May 17, 12:28 PM
    • #3
    • 4th May 17, 12:28 PM
    I am 47 and nearly completed an engineering foundation course at Liverpool John moores university and will be starting the degree properly this September.
    Does any body know if you stop paying the student loan when you reach retirement age as, assuming I do a sandwich year I'll be 52 when I graduate and if the thirty year rule applies will be paying it when I'm 82!
    Anyone got any idea?
    Thanks Chris.
    Originally posted by ccon
    It's still liable for repayment for 30 years but you only repay if you earn over the repayment threshold (pension income doesn't count) so in practice you won't be repaying.
    • sarahjandrews1980
    • By sarahjandrews1980 10th May 17, 10:56 AM
    • 1 Posts
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    sarahjandrews1980
    • #4
    • 10th May 17, 10:56 AM
    What if....
    • #4
    • 10th May 17, 10:56 AM
    Hello,

    What if you went to uni, completed a foundation year and year 1 of the actual degree course, but due to unforseen circumstances did not complete the degree and therefore didn't graduate, will these dates still stand?

    Thanks
    • Ed-1
    • By Ed-1 10th May 17, 1:33 PM
    • 2,111 Posts
    • 1,128 Thanks
    Ed-1
    • #5
    • 10th May 17, 1:33 PM
    • #5
    • 10th May 17, 1:33 PM
    Hello,

    What if you went to uni, completed a foundation year and year 1 of the actual degree course, but due to unforseen circumstances did not complete the degree and therefore didn't graduate, will these dates still stand?

    Thanks
    Originally posted by sarahjandrews1980
    Yes for graduation date read "date left course".
    • jackyaz
    • By jackyaz 26th Aug 17, 1:58 PM
    • 1 Posts
    • 0 Thanks
    jackyaz
    • #6
    • 26th Aug 17, 1:58 PM
    • #6
    • 26th Aug 17, 1:58 PM
    I noticed it refers to graduation:

    2006 !!!8211; 2011 25 years from the first April of graduation (when you were first due to repay) Yes Yes

    What happens if I didn't graduate, i.e. left after 1 year?

    EDIT: Never mind, seen the answer I needed literally above!
    Last edited by jackyaz; 26-08-2017 at 1:58 PM. Reason: Answered in previous post
    • jimjamz82
    • By jimjamz82 27th Aug 17, 1:14 PM
    • 8 Posts
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    jimjamz82
    • #7
    • 27th Aug 17, 1:14 PM
    • #7
    • 27th Aug 17, 1:14 PM
    I went to uni in 2001 and graduated in 2005. My student loan falls into the category, "England or Wales - Before 1st September 2012". My loan will not be written off until I'm 65. Why is it that students who took out a student loan after 2005/06, their loan will be written off after 25 years? That seems unfair.

    Granted, my student loan is very small in comparison to the student loan sums today, as my tuition fees for each year were almost 10% of today's rates.
    I understand that students today have a less likely chance of paying off their enormous student loans than I do. So, if that's the case, then why wipe it out after 25 years? This advocates potential University students to take on as much student loan debt they possibly can, knowing full well that it will be written off when they reach 46, while I could possibly still be paying off mine for another 19 years after that.
    • silvercar
    • By silvercar 4th Sep 17, 9:31 AM
    • 36,713 Posts
    • 154,914 Thanks
    silvercar
    • #8
    • 4th Sep 17, 9:31 AM
    • #8
    • 4th Sep 17, 9:31 AM
    I went to uni in 2001 and graduated in 2005. My student loan falls into the category, "England or Wales - Before 1st September 2012". My loan will not be written off until I'm 65. Why is it that students who took out a student loan after 2005/06, their loan will be written off after 25 years? That seems unfair.

    Granted, my student loan is very small in comparison to the student loan sums today, as my tuition fees for each year were almost 10% of today's rates.
    I understand that students today have a less likely chance of paying off their enormous student loans than I do. So, if that's the case, then why wipe it out after 25 years? This advocates potential University students to take on as much student loan debt they possibly can, knowing full well that it will be written off when they reach 46, while I could possibly still be paying off mine for another 19 years after that.
    Originally posted by jimjamz82
    Which would you prefer, the loan you have or a loan the size that more recent graduates have?
    • jimjamz82
    • By jimjamz82 6th Sep 17, 10:45 PM
    • 8 Posts
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    jimjamz82
    • #9
    • 6th Sep 17, 10:45 PM
    • #9
    • 6th Sep 17, 10:45 PM
    Which would you prefer, the loan you have or a loan the size that more recent graduates have?
    Originally posted by silvercar
    Your response doesn't answer my question. Also, why ask me a question based on a situation I actually have no influence over?
    • Gloomendoom
    • By Gloomendoom 7th Sep 17, 8:35 AM
    • 13,559 Posts
    • 17,787 Thanks
    Gloomendoom
    Your response doesn't answer my question. Also, why ask me a question based on a situation I actually have no influence over?
    Originally posted by jimjamz82
    Surely the only answer to your question is that the rules changed. That is why.
    Never argue with stupid people, they will drag you down to their level and then beat you with experience.” - Mark Twain
    • jimjamz82
    • By jimjamz82 1st Oct 17, 1:11 PM
    • 8 Posts
    • 0 Thanks
    jimjamz82
    Surely the only answer to your question is that the rules changed. That is why.
    Originally posted by Gloomendoom
    Posting for posting's sake. Please consider whether your response will be helpful be submitting it, as it clearly wasn't.
    • froogleman
    • By froogleman 5th Oct 17, 9:46 AM
    • 2 Posts
    • 0 Thanks
    froogleman
    Can't pay Students Loans
    Hi I went to University in 1994 and my final and third graduation was 2003. I took out 2 students loans, deferred until 2007, left the country, came back 2015. I have never earned enough to start paying them back and have been unemployed for 18 months, getting a total of £0.52 Per month JSA. What are my options? Thanks for any advice in advance.
    • Merlin's Beard
    • By Merlin's Beard 5th Oct 17, 9:58 PM
    • 119 Posts
    • 1,136 Thanks
    Merlin's Beard
    Which would you prefer, the loan you have or a loan the size that more recent graduates have?
    Originally posted by silvercar
    Hmm... 6 years of uni, slightly higher than average salary...

    Plan 1 (pre2006): almost certainly going to have this wiped out at 65, giving me 40 years of repayment.

    Plan 2: would certainly have this wiped out 30 years after becoming eligible to repay (55 in my case)

    So... 10 less years of repaying for Plan 2.

    Let's say I earn a flat rate of £30,000 throughout my career and say that the current Plan 1 and newly announced plan 2 thresholds apply, because I'm not good at maths.

    Plan 1 I repay 9% of £30,000 - £17,775 a year, so £1100.25 a year.

    (2006 onwards graduates would be paying £27,506.25 as they only repay for 25 years)

    Plan 2 I repay 9% of £30,000 - £25,000 a year, or £450

    Over a lifetime:

    the Plan 1 loan costs me £44,010

    the Plan 2 loan costs me £13,500

    Obviously, this isn't totally accurate because everyone starts at a lower wage which rises (hopefully) and repayment thresholds change, but the big difference between a big plan 1 loan and a plan 2 loan still stands...

    so all things being equal, I'd take the plan 2 loan if given a choice. 10 years less of repaying, and a much reduced level of repayment each year sounds fab!
    • Leesystar
    • By Leesystar 30th Jan 18, 1:12 PM
    • 1 Posts
    • 0 Thanks
    Leesystar
    Advice, please :(
    I hope someone can help me. Will my loan still be written off even though I have arrears?

    My loan is due to be written off this year, I have never earnt over the threshold and am currently on Income Support in respect of my disabled son.
    A year or so ago Honour Student Loans claimed I didn't send them enough documnetation even though I sent them what I always have (I sent them proof of Income Support but they wanted prrof or ALL my benefits). I therefore missed the deferment window so they applied £74.32 to my account.

    If I don't pay this £74.32 do I breach the terms of the loan so it won't be written off? What should I do?
    • fermi
    • By fermi 8th Feb 18, 12:45 PM
    • 39,429 Posts
    • 47,455 Thanks
    fermi
    I hope someone can help me. Will my loan still be written off even though I have arrears?

    My loan is due to be written off this year, I have never earnt over the threshold and am currently on Income Support in respect of my disabled son.
    A year or so ago Honour Student Loans claimed I didn't send them enough documnetation even though I sent them what I always have (I sent them proof of Income Support but they wanted prrof or ALL my benefits). I therefore missed the deferment window so they applied £74.32 to my account.

    If I don't pay this £74.32 do I breach the terms of the loan so it won't be written off? What should I do?
    Originally posted by Leesystar
    If you are technically in arrears, they are not obligated to write the loan off.

    If you feel arrears were their fault, and should never have been applied, then you could make a formal complaint. Perhaps taking to the FOS if they will now take the case on.
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    • sc0ttie
    • By sc0ttie 19th Feb 18, 10:40 AM
    • 53 Posts
    • 8 Thanks
    sc0ttie
    I started a degree in 1996, I had to leave before the end of the first year because of a very bad physical health problem, i needed regular long treatments and surgery, which meant i was not able to give the time to a degree course. After that i lost my confidence completely and never totally got my health back to where it was before. having not completed my degree and never having earned over the freshold of wages to pay it off, will my debt to student loans ever be written off? its been deferred ever since i left the course.
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