Student finance - who pays if I don’t?

Redman10

Hi all,
Just applied for student finance for the first time, they asked for my wife’s income details which has panicked her. Will she have to pay if I don’t, say I’m in a low income job or I die or divorce?
Any advice is appreciated thank you

System

They only want it to calculate how much maintenance loan you should get. She won't be liable for any of it.

Have you actually looked at how it is repaid? Earn below £25k a year and you don't make any payments. After 30 years anything left unpaid is written off. It is effectively a graduate tax in the way it works.

Redman10

That’s reassuring. Yes I have read everything about the interest rates, income threshold etc the only thing that doesn’t seem obvious when reading is the liability so thank you for clearing that up. I’m actually going to study social work so I hope that I can apply for some bursaries at some point which will reduce my debt.

System

Bursaries don't reduce your student loan debt. They give you additional funds to meet costs and living expenses.

beckysheffield

Tarambor wrote: »

They only want it to calculate how much maintenance loan you should get. She won't be liable for any of it.

Have you actually looked at how it is repaid? Earn below £25k a year and you don't make any payments. After 30 years anything left unpaid is written off. It is effectively a graduate tax in the way it works.

What’s the interest like? I can’t imagine going to uni and earning so little 15 years down the line.

beckysheffield

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,7950697&_dad=portal&_schema=PORTAL

Didn!!!8217;t check their website

campbell19925

It will also come off your pay automatically without you doing anything when you start earning over 25k. So you don't have to arrange to start paying it back either.