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Original poster

Has anyone had their (old/90s) student loan written off?

35 replies

hugoagogo · 10/07/2019 20:22

Does anyone know how this actually happens?
I have been deferring my loan for about a million years, but have an idea at some point it will be written off, so long as I m still being paid peanuts.
I wish I had kept that piece of paper.

OP posts:
thefavourite · 10/07/2019 20:26

I still owe £9k on mine (just seem to manage to pay off the interest each year - at least it's not accruing too!) -mine was from '98-'02 and they send me a couple of statements a year. I'd call SLC and ask.

Original poster
hugoagogo · 10/07/2019 20:36

I think it all changed in 98. I've never had to pay anything on mine and after a certain period of time They are supposed to be written off.
The student loan company have sold my debt on several times over the years, I have lost track who owns it now. ( I have the paperwork somewhere)
It would be nice to hear of someone it had actually happened to.

OP posts:
PostNotInHaste · 10/07/2019 20:38

I have a vague idea in my head that it’s 50 which is starting to creep up on me so watching with interest.

PinkOboe · 10/07/2019 20:39

It’s after 25 years or at age 50 I believe whichever soonest for old ‘mortgage’ style loans

Mine will be in a couple of years and I’ve had a couple of letters offering a settlement deal recently.

Look on Martin Lewis, there’s info on there. Did yours get sold to erudio?

PostNotInHaste · 10/07/2019 20:39

Think it was something like 25 years or when you reach 50, so am watching with interest.

AiryFairyMum · 10/07/2019 20:41

I thought it was written off when you turn 65?

PostNotInHaste · 10/07/2019 20:42

I think that might be the newer ones.

AiryFairyMum · 10/07/2019 20:43

Or pre-1997 it was at 50 I think.

AiryFairyMum · 10/07/2019 20:43

That's the info here blog.moneysavingexpert.com/2017/05/will-student-loan-written-off/

Original poster
hugoagogo · 10/07/2019 20:47

I don't thinking was ever erudio, it was Thesis I remember for a while.
Surely someone on mn graduated in 94 and has had theirs written off? Or are they all earning loads?

OP posts:
EvaHarknessRose · 10/07/2019 20:48

No, I paid it off early but I did find I was owed a PPI payout on it!

WeaselsRising · 10/07/2019 20:49

I had a loan in the early 1990s. It was written off when I was 50.

BuzzShitbagBobbly · 10/07/2019 20:52

I was owed a PPI payout on it!

What? How?

Original poster
hugoagogo · 10/07/2019 20:56

Ooh weasels did you get a letter telling you? Or have they just stopped bothering you?

OP posts:
AriadneesWeb · 10/07/2019 20:58

Annoyingly the older loans last for decades longer than the newer ones, which is totally unfair. Mine gets written off at age 65 (44 years after graduation). But if I’d gone to uni a few years later my loan would get written off at age 46 (25 years after graduation). It’s a HUGE difference and so unfair.

WeaselsRising · 10/07/2019 21:19

I can't remember Blush. I think they just stopped sending the deferral letters. I got the last request just before I turned 51 and was a bit peeved, thinking it was going to carry on. Then nothing. I am now 56.

OvertheInfluence · 10/07/2019 21:33

I got a flurry of letters offering me a discounted amount to pay back just before the 20 year deadline hit then...nothing.

BikeTart · 10/07/2019 21:38

The remaining debt of mine was written off when I turned 50, was about £2000 or so I think.

Original poster
hugoagogo · 10/07/2019 21:41

How weird it's like it's a big secret, but thousands of people must be coming up to the 25 year mark this year!

OP posts:
stucknoue · 10/07/2019 21:45

I paid my off as soon as I was working, it was very small, under £1000 (ironically I've never actually earned the threshold due to travel, kids with sn and circumstances) so cant help directly but I think it was age 50 in the early 90's

EvaHarknessRose · 10/07/2019 21:45

Buzz I just asked Lloyds for details of any loans I hadthey came back to me with two numbers which when i rang to ask they said were stident loans (well, the graduate loans they were converted into once i graduated). Iasked them o do a ppi check not expecting anything and they sent me a cheque,!

Ohyesiam · 10/07/2019 21:48

I had my loan from 1995 -1999, and on my 50 th birthday I had a lovely letter telling me it was written off.
It was heaven.

haveuheard · 10/07/2019 23:29

@AriadneesWeb I have one from undergrad 2001-2004 which is cancelled when I reach 65, am permanently disabled or die. Then one from 2007-8 for a PGCE which is cancelled when I am 49. Both otherwise same terms - on same rate and threshold for repayments. The SLC treat them as the same so don't let you direct money to one or the other as they are both 'Plan 1' loans apparently.

But I won't ever earn enough teaching to pay them off so I ignore the stupidity of it.

BuzzShitbagBobbly · 11/07/2019 07:59

Thanks Eva

said were stident loans (well, the graduate loans they were converted into once i graduated)

Ah this makes more sense. Our student loans were not ppi-able but a graduate loan is just like any other loan from a bank which is.

Got my hopes up then! Wink

EvaHarknessRose · 11/07/2019 14:32

I don't really understand it Buzz. I only ever had undergraduate student loans (1996-1999). But they explained to me that when you graduate these are put into a graduate loan which you then pay off? Anyway I got £450 so they were definitely PPI'd.

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