cut-off date/age for old style student loans?

~Gabriel

Hope this is the right board.

I went to uni from 1995-99, so got 4 loans out at the time, one for each year. This would have been the old consumer debt-style student loans.

Anyway, what with ill health, low income and other circumstances I've deferred repayment every year since I graduated.

My question is: I vaguely remember reading somewhere that the loan gets written off when you reach a certain age (45?) or a certain numer of years after you graduate, but I can't find any paperwork to support this. Am I remembering right?

enthusiasticsaver

I think you may be thinking of the new style of student loans through student loan company. If it is a consumer debt I doubt that would be written off. Who was the lender?

enthusiasticsaver

From reading a few threads it appears the system changed in 1998. If you have not made any payments on any of them for 6 years or longer they may be statute barred. Otherwise it looks as if they are written off at 50. Lots of mixed information out there though depending on what loan you have and whether you have made payments on them at all since graduating.

~Gabriel

They wouldn't be statute barred, as I've been deferring them yearly since 1999. Loan was taken out with the SLC, and some of it sold on to Erudio.

Pretty sure there's some sort of cut-off date but would need the official paperwork/info.

Thanks anyway

Ed-1

~Gabriel wrote: »

Hope this is the right board.

I went to uni from 1995-99, so got 4 loans out at the time, one for each year. This would have been the old consumer debt-style student loans.

Anyway, what with ill health, low income and other circumstances I've deferred repayment every year since I graduated.

My question is: I vaguely remember reading somewhere that the loan gets written off when you reach a certain age (45?) or a certain numer of years after you graduate, but I can't find any paperwork to support this. Am I remembering right?

http://blog.moneysavingexpert.com/2017/05/02/will-student-loan-written-off

sheramber

Pre 1998 loans written off after 25 years or when you reach 50 (60 if you are over 40 when you take out the loan) whichever is sooner.
1998 AND 1999 loans are written off when you reach 65 years

Ed-1

sheramber wrote: »

1998 AND 1999 loans are written off when you reach 65 years

Not if they were taken out in respect of course that started before 1998.