Student loan write off question for old mortgage style loans

househell · 2 May 2019 at 1:49PM

Hi, I've got 2 sets of student loans - one set was in 92/93/94 and they are fixed mortgage style loans. The next set are income continent student loans starting in 2003. I've deferred the mortgage style loans since taking them out as I've remained under repayment threshold, until this year. So I'm just about to start repaying them - but I wasnt too fussed as thought they'd be written off in 2020 anyway as the last loan would be overdue by 25 years then. However thesis servicing just told me as I later took more student loans out in 2003 the 25 year write off won't apply to the original loans as it's 25 years from your last ever student loan. Anyone know if this is correct?

Lungboy · 2 May 2019 at 2:13PM

I guess your second set of loans are administered by SLC? I'd contact them and ask, it doesn't sound right.

sheramber · 2 May 2019 at 2:50PM

Agrees with what is said here

https://www.moneysavingexpert.com/news/2015/10/erudio-customer-heres-what-you-need-to-know-about-paying-off-your-loan/

Are not behind on any repayments under any agreement for a student loan and were under the age of 40 when your last agreement for a student loan was made and you reach the age of 50, or when the last agreement for a student loan has been outstanding for no less than 25 years, whichever is the sooner.

Ed-1 · 2 May 2019 at 6:29PM

sheramber wrote: »

Agrees with what is said here

https://www.moneysavingexpert.com/news/2015/10/erudio-customer-heres-what-you-need-to-know-about-paying-off-your-loan/

Are not behind on any repayments under any agreement for a student loan and were under the age of 40 when your last agreement for a student loan was made and you reach the age of 50, or when the last agreement for a student loan has been outstanding for no less than 25 years, whichever is the sooner.

"Student loan" means 2 different things in relation to if it was taken out under the Education (Student Loans) Act 1990 (i.e. mortgage-style) or the Teaching and Higher Education Act 1998 (i.e. income-contingent). The regulations governing the former only apply to the former so last student loan here is the last mortgage-style student loan taken out.

househell · 2 May 2019 at 8:46PM

Thanks for the comments.

Ed-1 that's interesting, do you have personal experience of this or do you know of anywhere this is fully references? They seemed quite adamant on the phone. Thx

Student loan write off question for old mortgage style loans

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