Mature Student Loan

LordAlfie

Apologies if there is already a thread for this but I can't find it. I watched Martin Lewis discuss student loans tonight, but it didn't,t appear to include end dates for mature students. Does anyone know if you are a mature student (50's), do you still have to pay for 30 years if earning enough, or does it stop at a set age? I have seen different information online and have found it confusing.


Thank you

H.Harrison

Hi, I have the same question and I can't find the answer anywhere! I graduated at the age of 46 in 2007 after a 4year degree. Is any unpaid part of my loan written off after 30 years (when I'm aged 76) or when I reach retiring age? Sorry but I'm confused about this one...please advise
Thank you in advance.

DCFC79

LordAlfie wrote: »

Apologies if there is already a thread for this but I can't find it. I watched Martin Lewis discuss student loans tonight, but it didn't,t appear to include end dates for mature students. Does anyone know if you are a mature student (50's), do you still have to pay for 30 years if earning enough, or does it stop at a set age? I have seen different information online and have found it confusing.


Thank you

From what I understood if for example your at the 29 year mark and you still have say 10000 then once the 30 year mark comes then its wiped.

[Deleted User]

from google

How long before a student loan is wiped?
took out your first student loan in or before academic year 2005/06, then it will be cancelled when you turn 65; or.
took out your first student loan in or after academic year 2006/07, then it will be cancelled 25 years after you became eligible to repay.

adindas

H.Harrison wrote: »

Hi, I have the same question and I can't find the answer anywhere! I graduated at the age of 46 in 2007 after a 4year degree. Is any unpaid part of my loan written off after 30 years (when I'm aged 76) or when I reach retiring age? Sorry but I'm confused about this one...please advise
Thank you in advance.

yes
Students are given state loans to cover the cost of these fees while they study and are not required to repay their debts until they are earning more than £21,000 a year.

Any unpaid debts are written off after 30 years

adindas

LordAlfie wrote: »

Apologies if there is already a thread for this but I can't find it. I watched Martin Lewis discuss student loans tonight, but it didn't,t appear to include end dates for mature students. Does anyone know if you are a mature student (50's), do you still have to pay for 30 years if earning enough, or does it stop at a set age? I have seen different information online and have found it confusing.


Thank you

Yes.
There is no age limit on tuition fee loans of up to £9,000 a year. But to apply for a maintenance loan, which covers living costs, you must be a full-time UK student aged under 60 on the first day of your course.

Students are given state loans to cover the cost of these fees while they study and are not required to repay their debts until they are earning more than £21,000 a year. Any unpaid debts are written off after 30 years.

Sncjw

He did state it through a question of a 60 year old it will continue for the 30 year term