Donate SIGN UP

old style student loans

Avatar Image
lyn1509 | 13:17 Sun 31st Dec 2006 | Jobs & Education
3 Answers
As I am never likely to be working / earning enough to repay the old style student loan (1995), is there a point at which the student loans company will give up asking for it?
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by lyn1509. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
None that's been declared in any legislation (yet). And its locked into your working habits via your NI number of course. The size of the loan increases in line with inflation as well.
The loan or remaining balance is written off after 25 years if you have been earning too little to have to paid it off by then.

This is the current rule - I suspect it doesn't apply to older loans. ISTR reading that they would give up asking about it when you reach retirement age, but haven't been able to confirm this.
My loans, I seem to recall would be cancelled at age 40 if not paid (provided last one was by age 23 or something)

That was 1997-2001 (before tuition fees were added into loans)

1 to 3 of 3rss feed

Do you know the answer?

old style student loans

Answer Question >>