Help needed re student loan interest, can you freeze it?

Blacksheep1979

and should he be given the chance to pay back just £18k (for example) over 20+ years (government then losing money) or £18k + interest over that time. Even if he doesn't ever fully satisfy the debt he'll probably have paid off more than the initial sum.

hstudent

Miss-spent wrote: »

The 'We' I am referring to in the OP is my son (the one with the loan) and myself. Who did you think I meant?

It was a bit of a strange way of saying it. I would have thought if you were referring to your son that you'd say something like "My son opened his student loan statement and showed it to me." Saying 'we' made it sound like you and someone else e.g. your son's father opened it in his absence.

Fea

hstudent wrote: »

It was a bit of a strange way of saying it. I would have thought if you were referring to your son that you'd say something like "My son opened his student loan statement and showed it to me." Saying 'we' made it sound like you and someone else e.g. your son's father opened it in his absence.

What is wrong with people today?! :eek: Does it matter? I don't see what concern it is of yours.

I'm currently in my second year at university and I also work, but just the thought of the loans I have from it have me in a panic.

hstudent

Fea wrote: »

What is wrong with people today?! :eek: Does it matter? I don't see what concern it is of yours.

The OP asked me a question in a previous post and I responded to it. Since when has it been courteous to ignore people?

kelloggs36

The point is that it wasn't relevant to the original question and really not worth making a point about. I think that is what Fea is saying!

Oldernotwiser

Fea wrote: »

I'm currently in my second year at university and I also work, but just the thought of the loans I have from it have me in a panic.

Why are you in a panic about your student loans? What worries you about them or don't you understand the way they work?

farso

Go back to basics, its called a student "loan"

The loan in question must be repaid with any interest it acrues along the way. Above all, its the cheapest loan you are ever going to get!

So basically there are two options:

1. Repay the loan including any interest.
2. Your son delcares himself bankrupt, technically writing off the loan.

Personally, its an expensive time that he spent getting no qualifications, but now he should accept that he spent the money, made his choices, get a job and repay his debt.

Good luck for the future anyway.

PolishBigSpender

As I understand it, UK student loans aren't written off when someone declares themselves bankrupt.

Oldernotwiser

PolishBigSpender wrote: »

As I understand it, UK student loans aren't written off when someone declares themselves bankrupt.

You're absolutely right, Student Loans are not cleared by bankruptcy.

farso

I see, Didnt know that!

Only one option remains then!