MSE News: Student loan deferment threshold to fall: Q&A on why it's happening

im-lost

LynnParker wrote: »

It stinks bacause the T&Cs have changed. It stinks because the amount is a flat payment per month regardless of how much you earn over the threshold. It stinks because my outgoings have risen, my income hasn't, but the threshold has dropped by more than £2000 in the past year. At least the contingent-based repayments take how much you earn into account - I would have preferred this option and I would have probably have paid my loan back by now rather than having spent the last few years worrying that something like this would happen.

You may not agree, but your 'I'm alright Jack' attitude will not stop it stinking.

should have though about all that when you chose to go to uni, and chose to get student loans, nobody forced you, and now your earning a healthy salary, and 26k is a healthy salary however you spin it, its only right you pay back the state.

IMO the threshold for old loans should be set at the equivalent to a 48 hour week on the minimum wage, much like it is for newer student loans :cool:

trimmtrab_2

I have gone under this new threshold by less than a few quid per month but am now now certain that they will do rummaging to try and get me over the threshold.

As a matter of interest, a couple of year's ago, Erudio tried to reject my deferment because they calculated expenses into my earned income. Keep an eye out for that ruse.

trimmtrab_2

As a follow up to the above, what is the process for the debts being written off? I have three loans from the 90s. I read that it's 2 years or 50 years of age. Can anyone clarify these Erudio loans?

Mindymoney

Hi all,

The threshold for pre 1998 mortgage-style loans has gone back up - hurrah! It is now £28, 828 - just higher than it was last year before it came down by about 2 grand and some of us who had always been below the threshold suddenly had to start repayments.

Hip hip hurrah, that means I am now eligible for deferment again, and will be phoning Erudio and Thesis tomorrow to send me deferment forms ! Do this - we don't have to wait till they normally send the forms.