For your plan 1 loan: If you took out the first loan for your course on or after 1 September 2006, the loan will be written off 25 years after the April you were first due to repay.
If you took out the first loan for your course before 1 September 2006, the loan will be written off when you’re 65.
Your Postgraduate Loan will be written off 30 years after the April you were first due to repay.
Second loan - does write-off date get reset?
nohassles
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I graduated in 2009 and have a student loan from that time. I'm now thinking about going back to university and getting a postgraduate loan. If I take this PG loan, will the date that my original UG loan gets written off be changed in accordance with my new loan, or will it remain and the PG loan will have a different write off date?
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The loan from before 2012 is a plan 1 loan. It will continue as such and keep it's write off date. The new PG loan will be completely separate.
When the masters loan goes into repayment, you’ll repay 6% of your income over the Postgraduate Loan threshold (£21,000 a year) and 9% of your income over £22,015 (the plan 1 threshold).I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1 -
Great, thank you!0
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