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Repaying my Student Loan

I heard a rumour once a long time ago that if you have a job in government or the civil service or even something that is government funded that your loan gets terminated after a certain time. Can anyone tell me if this is true?

Comments

  • DarkConvict
    DarkConvict Posts: 6,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Your loan gets terminated i believe 25/30 years after you have taken it out.
    Regardless of job or payment made.

    This is so those on low paid / voluntary jobs don't have it hanging on them forever.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • grastgirl
    grastgirl Posts: 406 Forumite
    You might get better responses on the student board, but I'm pretty sure you don't get it wiped out/paid off if you're in the public sector. Some teachers get a golden hello, but normally paid to them, not student loans. Pretty sure mine will be wiped out at 50, but I know the terms change from time to time, so this may not be relevant to you.
    MFW #66 - £4800 target
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