Liability to repay student loan has been cancelled?

[Treacle Toes]

I received a letter from Erudio today informing me that my liability to repay has been cancelled.

I am not 50 and wasn't expecting this yet?

Only £3.5k outstanding but still


Has this happened to you? Tell me all about it.

 

[Treacle Toes]

sojourner I think this happened to you didn't it?

 

[xenon]

It's 25 years or when you reach 50. At least assuming you took loans out around the same time I did, mid to late 90s.

 

[xenon]

Defered mine again this year. First one disappears next year. On one hand, fuck that makes me feel old and a bit that I still don't earn the threshold but also, glad to say goodbye to the deferral bother.

 

[farmerbarleymow]

I wonder if its possible to put a false date of birth on the loan application form so they think you're 49 when you took it out? You could claim it was an honest mistake if you got caught.

 

[chilango]

Passed the 25 year mark a few years back and Erudio told me that I still had to continue to pay (something to do with me skipping payments for a while iic.).

 

[Pickman's model]

I've had the letter saying nfa needed too
Nfa no further action not no fixed abode
Mine were with thesis not erudio tho

 

[maomao]

It doesn't always clear when you turn 50 surely? I'm 46 and have just taken one out.

(I actually paid my under grad one back years ago)

 

[Pickman's model]

I wonder if its possible to put a false date of birth on the loan application form so they think you're 49 when you took it out? You could claim it was an honest mistake if you got caught.

Didn't think of that back then

 

[JimW]

I made it to fifty without paying bar one year I was late sending deferral paperwork from rural China (bank statements in Chinese ) so got a month's worth deducted as they had my bank locked in.
I think those terms no longer apply maomao, recall outs were pretty generous including repayment threshold as we were first lot after they got rid of more grant aid so wanted to make it look more palatable, then terms and conditions got steadily clawed back iirc.

 

[xenon]

It doesn't always clear when you turn 50 surely? I'm 46 and have just taken one out.

(I actually paid my under grad one back years ago)

Heh, I think they've thought of that. The old ones varied anyway. Friend's who went to uni just a couple of years later had much lower thresholds for paying them back too.

One of mine, maybe 2 year's are with Thesis as well.

 

[strung out]

I went to uni in 2002 and mine doesn't clear until I retire.

 

[sojourner]

sojourner I think this happened to you didn't it?

Yes!! A delicious moment in my life. I'd been dreading them changing the rules, but I'd never earned enough for the repayment limit anyway, and that gets less likely to happen as I age. I graduated in 2000 so took the loans out in 97/98/99 - students after that got the shitty end of the stick We were also the last year to get a (partial) grant too.

So yes, a free education for moi, and you too - as it should be

 

[Treacle Toes]

Oh I see...mine has happened because of the 25 year rule...I took them out in the early 90's, I graduated in 1996

When will your student loan be written off? - Martin Lewis' Blog...

It’s a question I’m asked all the time. Many know that current students no longer need to repay their loans 30 years after the April following graduation, yet for those who started university before 2012, there are a variety of options. This information has been a long-term part of my Should I...

blog.moneysavingexpert.com

 

[bellaozzydog]

I feel like I should be congratulating people

 

[Treacle Toes]

Please do...it feels like a payday!

 

[rutabowa]

I got one in 1998-2000, and just ignored all correspondence afterwards (didn't fill in deferral forms or anything, just threw everything straight in the bin)... got a letter a few years ago that as it had passed the statute of limitations the debt was wiped. But yes the rules that made that possible were changed very quickly, I was very lucky.

 

[rutabowa]

I also was the very last year to get a grant (I believe the last year was 1997 but because I applied for 1997 and deferred to 1998 I still got one)

 

[Wolveryeti]

Nearly as good - Co-Op cocked up something to do with its loan interest calculations on my CDL so I got a cheque for the entire interest component of the loan in the post (I had paid it off). Was about 1-2 grand IIRC.

 

[JimW]

I got a full fees grant and something for living expenses too IIRC, trying to remember when I started, 94 I think, would that fit with loans coming in? Definitely took the full amount ever year of a four year degree (had a year out in the middle)

 

[Treacle Toes]

FTR, I was at Uni for the first time between 92 and 96. I got my fees paid and some maintenance grants so I never need to loan that much at all. We were really fortunate and it fucks me off that this support isn't widely available any more.

 

[Argonia]

Just doing my deferment in the library. Have never earned above the threshold to pay back. Took first loan in 1996 and last one in 1999 so it isn't long now till it's wiped which will be great.

 

[kalidarkone]

Yes!! A delicious moment in my life. I'd been dreading them changing the rules, but I'd never earned enough for the repayment limit anyway, and that gets less likely to happen as I age. I graduated in 2000 so took the loans out in 97/98/99 - students after that got the shitty end of the stick We were also the last year to get a (partial) grant too.

So yes, a free education for moi, and you too - as it should be

Stealthy! Like it

 

[Pickman's model]

mine's gone too

 

[kalidarkone]

Errm so at the risk of sounding stoopid......if I took out student loans in 2008, - 2010 and then 2011- 2012 then 2017- 2018 and I'm now 51....should I not be paying them any longer? I'm not retired .

 

[Pickman's model]

Errm so at the risk of sounding stoopid......if I took out student loans in 2008, - 2010 and then 2011- 2012 then 2017- 2018 and I'm now 51....should I not be paying them any longer? I'm not retired .

don't know. dig out the loan agreement and check the small print, i'd say tho' someone will be along with a better response in a minute.

 

[strung out]

Errm so at the risk of sounding stoopid......if I took out student loans in 2008, - 2010 and then 2011- 2012 then 2017- 2018 and I'm now 51....should I not be paying them any longer? I'm not retired .

Check which plan they're on here: Repaying your student loan

Different student loan plans have different write-off ages. Based on the information you've provided, your loans are likely to be cancelled 25 or 30 years after the April you were first due to start repaying them.