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repayments
dawnx
Posts: 1 Newbie
i have been told that the student debt is wiped after 7 years is this true?
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Comments
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I think that is very untrue - its never 'wiped' as far as I was aware0
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I was talking to another student last year who was saying the student loan company may collapse as not enough students are paying it back till much later on or not paying at all0
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In answer to Dawns question the answer (I am sad to say) is no. The only circumstances a Student Loan (this is the 1998 - today style) is written off are...
"Repayments on any loan that are not yet due will be cancelled if you die. If you have kept up your repayments, any loan you still owe will be cancelled when you reach 65 or if you become permanently disabled."
The scenario relating to the SLC "collapsing" is one that comes round every so often, I am afraid it will never happen. It is essentially a government department, funds are makes available by the treasury.0
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