Does doing a postgraduate degree reset the timer on student loan repayments

Hi,

I have student loans on top of me at the moment so been doing some digging around and can't seem to find much information on this topic.  I did my original degree in Northern Ireland between 2003 and 2007 which from my research (which may not be accurate at this point) should disappear after 25 years I think.  I then went on to do a postgraduate (PGCE) in England in 2010/11 which I believe disappears after 30 years. 

What I'm trying to work out is, how this will pan out for my repayments.  Did all my debt get reset onto the 30 year timer after 2011 in which case I could be paying it until I'm as good as retired and get treated as one overall debt.  Or does my undergraduate degree get written off a bit earlier when I'm still in my 50s and then I pay less for the next decade-ish towards the postgraduate?  Any advice appreciated on this one.  I'm currently working overseas and reluctant to make long distance overseas calls and I find SLC a bit of a chore to talk with at the best of times.

Thanks

Comments

  • MSE_Laura_F
    MSE_Laura_F Posts: 1,567
    First Post First Anniversary Photogenic Name Dropper
    MSE Staff
    Hello @sprecks,

    The loans are kept separate and will wipe at different times. There's more on this in the MSE postgraduate loans guide:
    https://www.moneysavingexpert.com/students/postgraduate-loans/#need-8
  • Ed-1
    Ed-1 Posts: 3,846
    First Anniversary Name Dropper First Post
    Forumite
    edited 1 February 2022 at 9:35PM
    Hello @sprecks,

    The loans are kept separate and will wipe at different times. There's more on this in the MSE postgraduate loans guide:
    https://www.moneysavingexpert.com/students/postgraduate-loans/#need-8
    PGCEs are taken out under the undergraduate loans system. The postgraduate loan system is for Masters (except integrated Masters) and Doctoral loans only.

    sprecks said:
    What I'm trying to work out is, how this will pan out for my repayments.

    To answer the question each separate loan balancefor each academic year is kept separate behind the scenes so loans for different periods of study (courses), even though amalgamated for repayment purposes under the same plan type, are wiped at different times in accordance with the relevant terms and conditions.

    Both your loans are Plan 1

    The loan taken out for the course starting 2003 is written off at age 65. The loan taken out for the PGCE is written off 25 years after the April you left the PGCE course (post-2006 plan 1).
  • Thanks for this guys.  I'm actually kind of surprised @Ed-1 as I thought my initial degree would wipe first - ironically the initial 4 year degree will be the one that haunts me longest and the PGCE then will drop off when I'm 50ish.

    Thank you both for your help - trailing through the government website trying to find this info seems to just send me around in pointless circles of either no information or information that doesn't apply to me so I could have been lost in there for days.
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.7K Work, Benefits & Business
  • 605.7K Mortgages, Homes & Bills
  • 172.4K Life & Family
  • 246.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards