Student Loan Settlement Offer. Seems too good to be true!

I have received a settlement offer from Erudio student loans which seems very good on the face of it. But I am not sure if accepting it is the right thing to do. None of the guides or threads seem to cover what they are offering.
I currently owe them £2,134 and have been deferring since I graduated. My loan is due to be written off in 2024.
However, I am currently only just below the deferment threshold (which Erudio acknowledges in the letter). My company is doing well and I have been lucky to enjoy a good wage rise every year. Next year I am in danger of going over the threshold and having to start paying. I have one young child and another due soon and the extra payments each month will be very hard financially for us (especially next year when I need to pay full time childcare for the new baby).
So Erudio have offered me a settlement of £426.90 and they will write off the remaining £1707,62.
Just now we have the money to pay this and we don’t have any other significant debts that are earning interest.
Should I take the offer?
Thank you
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 343.7K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 608.9K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards