Student loan for Pensioner - seriously?
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thorsoak
Posts: 7,166 Forumite
I've been talking to a friend on the phone, who tells me excitedly that she has been accepted for a BA course at her local university, and that she has got a student loan to cover the fees. What intrigues me (because I am envious and would like to do the same) is that she says that because her only income is from her pension (private and DWP) that her income will not trigger repayment. When I asked "wont the debt roll up and be payable from her estate when she dies" she said no, the debt will die with her!
Is she right? Because if so, I think I might start looking at courses at my local uni - I'd love to do a BA in literature :-)
Is she right? Because if so, I think I might start looking at courses at my local uni - I'd love to do a BA in literature :-)
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Wow! Thanks for that - I may have to look to see if I could get a place at my local university if they are running a course which might take me.0
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The article is 5 years old?0
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Got any evidence that things have changed?0
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https://blog.moneysavingexpert.com/2017/05/will-student-loan-written-off/
Article from this very website.
It is a great opportunity for those people who did not have the chance earlier in their lives to do some study they had always dreamed of.0 -
That is frankly ridiculous. They should just abolish tuition altogether. There is no way my son and all his friends will ever pay it off anyway. Broken system!0
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It is madness. By my calculations my DD will still owe £266k when the 30 year cutoff hits and her 9% deduction at that point won't even be covering the interest being added each month.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
You aren't eligible for a student loan if you already have an equal or higher level of qualification. If its your first degree level study though, good luck!0
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Student Loans are basically repayable no different to a graduate tax.0
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No, I don't have a degree - A levels (gained in 1961) yes, SW diploma yes, but no degree. I'm going to do some investigating ........ :-)0
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