Write off Student Loans 12 October 2021 at 11:37AM in Loans 6 replies 477 views

pond1

I have a student loan which was taken out in 93, 94, 95, 96. I have always deferred. On this website it says it should be written off this year. I can't find that information anywhere else. Will the SLC tell me it has been written off or do I have to apply?

Keep_pedalling

With those dates it sounds like you have plan 1 loans which are not written of until you are 60.

https://www.gov.uk/repaying-your-student-loan/which-repayment-plan-you-are-on

Hevski

Do they not die with you? These student loans? I would keep deferring if I was you, I know it’s a pain. I paid mine off with money (£6k), I wish I had now.. I got loans out between 97 and 99.

Pixie5740

Keep_pedalling said:

With those dates it sounds like you have plan 1 loans which are not written of until you are 60.

https://www.gov.uk/repaying-your-student-loan/which-repayment-plan-you-are-on

It's not plan 1 with the dates given in the OP.  They're the old mortgage style pre-1998 student loans.

Pixie5740

pond1 said:

I have a student loan which was taken out in 93, 94, 95, 96. I have always deferred. On this website it says it should be written off this year. I can't find that information anywhere else. Will the SLC tell me it has been written off or do I have to apply?

It's in The Education (Student Loans) Regulations 1998.

12.  The lender will cancel the borrower’s liability to repay the loan if the borrower—
(a)dies,
(b)is not behind on any repayments under any agreement for a student loan and—
(i)was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or
(ii)was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or
(c)if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work.

davelewis

If you have successfully deferred every year, you should get a letter from the company who are currently administering your loans. As the original mortgage style students loans have been sold off, you should now be dealing with either Erudio loans or Thesis servicing. Either of these should write to you after 25 years after your final year (as long as you have successfully deferred each year) to inform you that your loans have been cancelled. 

sourcrates

Just to add, the old style student loans are also subject to the limitation act 1980.