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Original poster

To not pay off my student loan (current SAHM) even though we can afford it?

340 replies

SwissSarah · 27/01/2017 18:54

I got my degree 10 years ago and have about £10K to pay from my student loan. I never earned enough to pay back any of it pre kids (did low paid community work) and have been a SAHM for 5 years and plan to be for at least the next 5. I anticipate never working full time and probably doing lots of voluntary stuff in the community as that's what I love doing. (DH earns well so no pressure to earn myself)

My DH thinks we should pay it back as I borrowed it. I think that I am contributing massively to my local community and giving back in so many other ways and if I'm not earning enough then I shouldn't worry about not paying it back. What do you think??

OP posts:
Sallystyle · 27/01/2017 20:26

You pay it back. The key word is LOAN.

You pay it back when you are earning enough to do so.

The key words are in the TC.

CremeEggThief · 27/01/2017 20:27

Exactly, Caboodle.

LightastheBreeze · 27/01/2017 20:29

Aren't the rules that you pay a certain percentage of your earnings if they are over a certain amount. Only a fool would pay more than they are obliged to. Those are the terms and conditions. It would be like overpaying your tax bill to pay more

Sallystyle · 27/01/2017 20:30

Brilliant attitudes surfacing. People like you do not deserve a higher education.

It's how they work. There is nothing morally wrong about following the terms of the loan.

Megatherium · 27/01/2017 20:30

You pay it back. The key word is LOAN

No, the key words are in the legal terms of the loan - and they say you are not liable to pay it back.

ShoutOutToMyEx · 27/01/2017 20:32

Brilliant attitudes surfacing. People like you do not deserve a higher education.

I laughed out loud at that one.

mistermagpie · 27/01/2017 20:32

Why are people getting on their high horse about this? Not paying back the loan if you don't earn enough is built into the terms of the loan. There was nothing in the terms (of mine anyway) saying that you are morally obligated to get a job which pays enough just because you have an education. People are just being silly.

Megatherium · 27/01/2017 20:33

Brilliant attitudes surfacing. People like you do not deserve a higher education.

Why? Do you only deserve a higher education if you intend to do work that will enable you to repay the loan? Where does that place people who are seriously disabled and may struggle to find work? Or who become disabled shortly after graduating? Or who go into valuable but badly paid jobs? Are we really saying we place no value on volunteer work? If that were the case the economy would collapse.

Sallystyle · 27/01/2017 20:33

Only a fool would pay more than they are obliged to.

Yep. Why take money away from the family pot to pay a loan you aren't obliged to pay? I guess it makes some people feel morally superior.

Personally, I think it just makes you a mug.

CaraAspen · 27/01/2017 20:35

Did those who have a "who cares if you ever pay it back" attitude to the loan attend good universities?

senua · 27/01/2017 20:35

So everyone is cool about Starbucks and Google using legal terms to avoid tax?

ShoutOutToMyEx · 27/01/2017 20:37

Did those who have a "who cares if you ever pay it back" attitude to the loan attend good universities?

Yes thanks, did you?

LightastheBreeze · 27/01/2017 20:38

To pay back the current loans you would probably have to earn a lot more than the average graduate job. Only high paid jobs will be able to pay it all back.

mistermagpie · 27/01/2017 20:39

I attended a very good university, got two degrees, have paid of my own loan in full (as of last month) and I couldn't give a shit if the OP ever pays a penny of hers.

Megatherium · 27/01/2017 20:39

Did those who have a "who cares if you ever pay it back" attitude to the loan attend good universities?

Russell Group university here.

Megatherium · 27/01/2017 20:41

So everyone is cool about Starbucks and Google using legal terms to avoid tax?

I want the law to be changed so that they can't. Till then, I accept the reality that they can't be made to pay any more tax than they owe.

29redshoes · 27/01/2017 20:42

If it were me I'd pay it back.

Some of the excuses people are giving out on this thread are pretty odd.

Certain large corporations also engage in legal yet morally dubious behaviour, so we all should Confused. A degree is useful for volunteering and raising a family, so you shouldn't have to pay for it even though you can afford to Confused.

CaraAspen · 27/01/2017 20:43

I have an excellent degree from one of the country's ancient universities. AND I have repaid my loan. SO I occupy the high moral ground.

ShoutOutToMyEx · 27/01/2017 20:44

Course you do.

ShebaShimmyShake · 27/01/2017 20:44

Theonly reason you could borrow the money is because people before you paid back their debt. No, you don't get to default on your debts because you do voluntary work. Just like I can't default on my mortgage just because I fundraise for charity. Christ!

SherlockPotter · 27/01/2017 20:44

Student loans are a debt but not a debt...if that makes sense

You don't have to legally pay the loan back unless you a) earn over the threshold of £21,000 or b) you didn't complete your studies.

FarFromFolsomPrison · 27/01/2017 20:44

Never mind the loan, to me it is a bit bizarre, as well as extremely naive, to assume, only ten years after graduating, that you will never ever work full time Shock

29redshoes · 27/01/2017 20:45

Do you only deserve a higher education if you intend to do work that will enable you to repay the loan? Where does that place people who are seriously disabled and may struggle to find work? Or who become disabled shortly after graduating? Or who go into valuable but badly paid jobs? Are we really saying we place no value on volunteer work? If that were the case the economy would collapse.

But that's completely irrelevant. The OP isn't seriously disabled. And she can afford to pay back the loan.

Batwomanrisesagain · 27/01/2017 20:45

My sister in law left uni and married a millionaire and has never worked a day in her life. She's quite proud of the fact she wil never pay her student loans back, pisses me right off.

CaraAspen · 27/01/2017 20:45

If people are cheering about not having to repay it because...because - because, they really are such fabulous people with such a lot of moral fibre.

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