Student Loan 1999 Plan 1

upsydaisy09

Hi all

I haven't been here in years, hope I am posting in the right place.

I took out a £3698 student loan in 1999, 3 payments received between 1999 and 2000.  Due to daily interest this was £11,247.22 on 6.4.2003.  I have always worked since 2003 for local government and the money has come out of my wage slip accordingly.  I rang SLC today and was told the balance is £6,553.73.  I am now 43 years old and was told that I will repay the loan until I am 65 years old.

I have never been in a position to afford to pay the balance off or more than the wage slip or I would have

Any views helpful, or if others are in this position let me know as he initial said it would be written off after 30 years, then when I was 45, then came back on and said 65 so just seeking clarity.  It was sold on to another company called Income Contingent Student Loan s 1 (2002 to 2006) Plc?

Thankyou in advance and appreciate your time / input

Ed-1

upsydaisy09 said:

Hi all

I haven't been here in years, hope I am posting in the right place.

I took out a £3698 student loan in 1999, 3 payments received between 1999 and 2000.  Due to daily interest this was £11,247.22 on 6.4.2003.  I have always worked since 2003 for local government and the money has come out of my wage slip accordingly.  I rang SLC today and was told the balance is £6,553.73.  I am now 43 years old and was told that I will repay the loan until I am 65 years old.

I have never been in a position to afford to pay the balance off or more than the wage slip or I would have

Any views helpful, or if others are in this position let me know as he initial said it would be written off after 30 years, then when I was 45, then came back on and said 65 so just seeking clarity.  It was sold on to another company called Income Contingent Student Loan s 1 (2002 to 2006) Plc?

Thankyou in advance and appreciate your time / input

Loans for courses starting 1998 to 2005 are written off at age 65.