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

[hugoagogo]

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.

One of mine was sold to Erudio and the other Thesis. I’ve had 2 settlement offers from Erudio the first was about £700 mark and the second they offered to settle for about £300. I’m waiting to see what next year’s offer is. In the most recent offer letter it did state it I maybe eligible to have it written off in 2024.

@EvaHarknessRose Government student loans have never had PPI. It would make no sense because you're not liable for repayments whilst out of work. What you describe is either a commercial loan or overdraft that you took from the bank. It's nothing at all to do with government student finance.

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.

Yeah someone sold you a line there, sorry. They did it for the commission I expect.

I had student loans like yours for about 8-10 years post graduation. Never once had anyone tell me I had to convert them into anything, they just rumbled on till repaid. As pp say, graduate loans are standard commercial lending from banks, quite separate from old student finance.

At least you got the ppi back - that loan sounds like the very epitome of mis selling!

Found my settlement offer and one of the FAQs covers cancellation.

Mine is being written off this year. It's 25yrs after you took it out.

That's really useful iggy I think I took my last loan out in 1995, so only one more year to go, or two at most.

I graduated in 1999 and have deferred ever since. I was told by a Student Loans adviser last month that I have another 5 years to go before it's written off!

I have also had offers to pay half owed to write it off. Mine stop after 25 years. But obviously it is staggered, so a loan a year for 3 years will be taken off as each hit 25 years. I am now desperate not to earn enough to start paying!!!!

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.

Charges for uni are a lot more now which is also unfair when older people paid a lot less.

I am now desperate not to earn enough to start paying!

The timing of the very last year I deferred coincided with a pay rise that took me over the threshold starting that month. With judicious use of previous months payslips I was able to bounce it out for one final year. It felt like a small victory at the time

It was also a pleasure to call up and make the very final few quid payment on my Switch card (if I remember rightly!)