Student loan repayment

[retroscenden]

I have heard countless methods to avoid paying back student loans (the current type) such as leaving the country for x years, etc. Is there a place I can verify these or does anyone know what the exact 'rules' are? I was planning on going bankrupt, but they have changed the rules regarding this.

[camille79]

why can't you just pay them back? You don't need to until you have reached a reasonable earning threshhold and then it's only a small amount each month. Okay, so you'll be paying them back forever but IMO it's a small price to pay for education and qualifications.

[londondave]

Just pay it back like everone else you scrounger.

[thewillow]

Hear, hear.

[Oneeyedvic]

Going bankrupt will stay on your credit file for 6 years - try and get a mortgage then. You will be paying a much higher rate than most people - probably work out more than the interest payments on a student loan! I'm with the rest of them - pay back what you owe

[Hammer]

Tell them you're struggling and they'll reduce the payments to a fiver a month for the next 752 years. Surely you can afford that.

[retroscenden]

I knew I was going to open myself up for abuse, but if anyone has actually got any helpful advice I would like to know. I have �17500 worth of loan debt, but quit the degree to start my own business. I am now moving to Spain with some money made from the business and then just planning on making a subsistence living. I just want to know if there is any way of not having to pay back the �17500 whether you agree in the morality of it or not.

[retroscenden]

Okay, promlem solved now so no need for your help (or abuse) anymore.

[a_lynch]

Simple: *Don't earn over 15,000� * Get to the age of 65 * Die

[Oneeyedvic]

Interestingly, bankruptcy WILL NOT alleviate your student loan debts - http://www.insolvency.gov.uk/information/faq/faq.htm#14

[apejuice]

i would also like to find the rules as to what happens when you move abroad...