Student Loans

robbierude

Hi guys,

When I look through the threads I rarely see people mention student loans. Is this because people don't have them or is it because people tend not to include them?

I have a student loan of £4,957. I tend not to include this in my figures because if I lost my job tomorrow, I wouldn't have to pay it back and they wouldn't be able to chase me. I also know based on current contributions I will pay it back one month before my debt free date (August 2016).

Any thoughts/comments?

somethingcorporate

I don't include it either for the very reason mentioned above. I see it more of a tax that will one day disappear!

tiger_eyes

I also don't consider my government student loan a real debt. Repayments are minimal for me right now and if my income drops I won't have to repay at all. My postgraduate student loan (now paid off early) was a bank loan and that was a real debt.

tiger_eyes

Gah! Out of curiosity, I just looked up the balance of my outstanding undergraduate loans. Nearly £21,000. I'm going to pretend I never saw that.

robbierude

'a tax that will one day disappear' I like that - I will be using that in the future.

I also think the student loan detracts from the hard work I am doing on my other debts.

RR.

goonarmy

It doesnt effect credit ratings and lenders dont really take interest in it. Not a debt to worry about, if your earning enough you always make the repayments, if not they wont want em.

funk100

When it comes to getting a mortgage it is included in your outgoings which will affect how much you can borrow.

Its not something you can hide either as Mortgage lenders normally take copies of wage slips and bank statements over a period of time so that underwriters can make their decisions.

wannasurf

overseas but intend to pay back student loan. first letter I see after sending back assesment form is something saying i have 600 quid to pay for non payment on a red form. I phone them up and they tell me I've got to pay it. I tell the !!!!!!s they did not tell me when or how much to pay. they reply saying you now owe 1000 gbp.

this goes on and on, they passed onto a debt collection, I have every intention of paying back but what the hell. this is unfair, and no sympathy from those scots about not receiiving letters.

bsms1147

hafa786 wrote: »

If You got the student loan then make sure you must have a guaranty because if You have not a experience then You cannot return easily in to a bank.

Wise words, I wish more people would listen to you.

somethingcorporate

bsms1147 wrote: »

Wise words, I wish more people would listen to you.

:rotfl::rotfl:

cyana13

I usually include it as it's a payment that goes out every month. Hopefully I will finish paying it in around 10-11 months