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Student loan pre 1998, cancel date?
Hi
I have 3 student loans from my university course.
Taken out 1997, 1998 and then 2000
(I didn't get one for my 3rd year)
I think they must be soon coming up to the point when the get cancelled.
I'm a part time nurse so never been paid enough to have made any payments on them at all.
My boss has recently offered me some extra shifts but this will take me over the defering threshold.
I don't mind paying the monthly payments but if i start to pay then do i have to pay off the whole loan even if i get to the cancellation date.
Basically if i start to pay, does that mean i have to pay off the whole thing?
Or will the loan still get canceled when i get to the date.
I think they cancel them after 25 years?
Is that right? Has anyone done this?
The loan is now the the erudite company. Tried to call them but can't find a number
I have 3 student loans from my university course.
Taken out 1997, 1998 and then 2000
(I didn't get one for my 3rd year)
I think they must be soon coming up to the point when the get cancelled.
I'm a part time nurse so never been paid enough to have made any payments on them at all.
My boss has recently offered me some extra shifts but this will take me over the defering threshold.
I don't mind paying the monthly payments but if i start to pay then do i have to pay off the whole loan even if i get to the cancellation date.
Basically if i start to pay, does that mean i have to pay off the whole thing?
Or will the loan still get canceled when i get to the date.
I think they cancel them after 25 years?
Is that right? Has anyone done this?
The loan is now the the erudite company. Tried to call them but can't find a number
sieze the carp
0
Comments
-
The loan doesn't get cancelled, but the balance is written off at the appropriate date, regardless of payments made to date.
The write off dates can be found here
https://www.gov.uk/repaying-your-student-loan/when-your-student-loan-gets-written-off-or-cancelled1 -
There's this from Martin Lewis, updated in 2019 -
https://blog.moneysavingexpert.com/2017/05/will-student-loan-written-off/
which seems to be quite helpful.Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.1
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