Is your student loan being sold? The answers we must get from the Government… 23 March 2017 at 3:49PM in Martin's blogs & appearances & MoneySavingExpert in the news 2 replies 10.6K views

MSE_Eesha

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "Is your student loan being sold? The answers we must get from the Government…" Blog.

Please click 'post reply' to discuss below.

libf

When is the sale actually happening? This sounds like the discussion about it is still ongoing.

Amyce

Late to the party here - I got a letter from the SLC over Xmas, telling me my loan (I started uni in 2004) has been sold off to a private company. The letter assures me my loan will continue to be administered by the SLC and payments collected in the same way but provides very little other detail.


Whilst it has been in the news that the government has been considering this, I didn't receive any prior notice that it was going to happen to my loan specifically, no warning letter, chance to ask questions or to outright object to it.


I'm currently digging through a mound of 15 year old paperwork to find my original student loan Ts & Cs documents (which I'm pretty sure were written in hieroglyphs or some other ridiculous convoluted nonsense). Where do I stand as regards a serious change to my loan that I was not given advance notice about?


Side note - I do not (currently) begrudge paying back my student loan, the installments are at present manageable and it afforded me the opportunity to do a degree I thoroughly enjoyed and has helped me into employment. My concern is a change I was informed of after the event and knowing all the issues with the previous sell offs whether this is likely to adversely affect my credit rating or what happens if I have a change of circumstances plus the impact on the eventual loan cancellation date. None of this was covered in a two page letter.