Can i get out of my student loan?!

Oldernotwiser

farso wrote: »

If you do not pay back the full amount by the end of 25 years then the debt is written off. Just need to stay well hidden for a while if you want to get out of paying!

The debt is only written off after 25 years if you've stuck to the rules of repayment. If you have arrears or haven't been paying it when you should, then they can still claim it back.

itsakindof_magic

Hi!
I can't be certain, but I'm sure I've read somewhere that if you were found to be not paying loan back, when you are in the position to the SLC can demand you pay the whole lot back in one go? would definately be worth looking into the t&c's of loans, but I'm pretty certain you won't be able to get out of it. nice try though!!

Taiko

itsakindof_magic wrote: »

Hi!
I can't be certain, but I'm sure I've read somewhere that if you were found to be not paying loan back, when you are in the position to the SLC can demand you pay the whole lot back in one go? would definately be worth looking into the t&c's of loans, but I'm pretty certain you won't be able to get out of it. nice try though!!

I would imagine you probably read it in my earlier post in this thread!

CLAPTON

ourgerry wrote: »

Older not wiser: My loans were taken out from 2000 onwards so i think i'm on the new system....

Mike: before this turns into a trial of my character, i have not taken any decision yet.... nor do you know any of the details of my academic history.

This is an interesting quandry, both ethically and from a system perspective. it had not occured to me why i had received no communication from SLC since leaving university 2 years ago, then when i got a letter enquiring about how i was supporting myself.

Has anyone heard of the situation before of 2 NI numbers?

I don't see there's any need to discuss your character or details of your acedemic history... what you are discussing is straight foreward fraud.
No different to tax or benefit fraud.
The issue of having two NIs in itself is not unique or uncommon.. it can happen for a variety of innocent or not so innocent reasons.

redpete

ourgerry wrote: »

This is an interesting quandry, both ethically and from a system perspective.

Where's the ethical quandary? You have benefited from the student loan, there have been no problems with the process that make it a legally unpayable or unenforceable debt, therefore you should pay it back.

dmv_2

Ok now no one likes paying loans back but you signed the paperwork and were well aware it was a loan and not a free gift or grant. I will be in nearly £35,000 worth of debt by the time I finish uni but I knew that when I started, as did you. Pay it back.

itsakindof_magic

Taiko wrote: »

I would imagine you probably read it in my earlier post in this thread!

Oops! that'll teach me for writing before reading the whole thread in the future *slaps wrists*

DCFC79

Just pay it back, theyre not going to go away

phlash

1) It will not be written off after 25 years. (Thats a rule for students from 2007ish onwards)

2) As a 2002 entrant, I, like the OP has the debt cancelled at retirement age....65.

3) I am paying mine back.

4) Not hearing from the SLC is your responsibility, very clear in t&c's in original document and subsequent guidance.

5) You have left a trail of your identity, and there are rewards for identifying benefit thieves, of which you are one.

6) You can't have your cake and eat it.

7) You pay off at 9% of everything over £15,000. Therefore on £20,000 you pay off £450, which is more than affordable and reasonable.

8) This is a test of your character, and this could just be a stupid decision that you learn to regret in the future when in a higher profile role in your career and this little chestnut pops out of the woodwork.

9) Contact SLC right away.

10) Do the right thing.

11) I could just keep on going, I'm furious you even asked the question. Lying behind the defense of the fact you haven't made your decision yet is pathetic.

Nickynoo1

Phlash,

Why would you get so wound up? He's only asking if he could get away with it.