wipe out student loans?

Oldernotwiser

Student loans should be looked at as a graduate tax rather than as a loan. If the government at the time had more cojones there would have been such a tax which would have been far better.

[Deleted User]

vaporate wrote: »

Well, the amount they take every month is chicken feed.

It's a damned if you do, damned if you don't. degree/no degree.

I signed up to the terms. If it was anything like a bank loan, well lol I wouldn't take the loan.

I wouldn't say it's chicken feed, really.

Average graduate salary after a few years in London = around £30k, say. So, £1,350 of that goes towards your student loan.

That's quite a lot when you consider your living expenses - as someone else mentioned, it's 'income-assessed' but not 'outgoings-assessed'.

Alx*27

It was all worth it though. Look back and think about all the beer it went towards!

vaporate

Alx*27 wrote: »

It was all worth it though. Look back and think about all the beer it went towards!

Not far from the truth. :beer: lol

Dave101t

i bought a car, ps2, dreamcast, went out and had fun with my loan, im happy to pay back the 83/month it costs me through paye. bargain! and at 0% at present!

fermi

As far as I remember, post 1998 student loan are not regulated agreements under the Consumer Credit Act.

So the claims made by the company and referred to in the 1st post are utter bullwarks!

jillypops317

Hi I am 55 and have two student loans, one from 93-96 which I always defer as I don't earn 15k or more and the other was from 98-9 (PGCE) - the latter occasionally takes deductions from my wages if and only if I earn a specific amount a month and more. I have recently read that the first ( beause of my age can now be wiped - can anyone verify this please - thank you.

fermi

jillypops317 wrote: »

Hi I am 55 and have two student loans, one from 93-96 which I always defer as I don't earn 15k or more and the other was from 98-9 (PGCE) - the latter occasionally takes deductions from my wages if and only if I earn a specific amount a month and more. I have recently read that the first ( beause of my age can now be wiped - can anyone verify this please - thank you.

Look at the "When are loans wiped" section here:

http://www.moneysavingexpert.com/loans/student-loans-repay#should

jillypops317

Thanks very much for the info Fermi I will contact them asap and get the lowdown

Navvie

Is it just the graduates I know who don't ever intend paying off their student loan or is it a widespread goal?