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student loan cancellation

scoomber Posts: 1 Newbie

9 August 2007 at 1:31PM in Loans

Hi

I took out my first loan in 1995 then a further 3 until I graduated in summer 1999.
up until now I have deferred every year because i have never earned more than the threshhold.

Am I right in thinking that when I reach 50 (I was aged 30 when I took out the first loan in 1995) the loan will be cancelled and i will not have to pay anything back, as long as I continue to defer bewteen now and then of course.

thanks, scoomber

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