Student loans - Who still paying them 10 years on?
blueisthecolour
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I went to uni between 2000 - 2003 and borrowed a little under £11,000. I just looked at my online balance at it's still £3,800.
I was wondering whether there are any posters here that went to uni at the same time and how much you still have to pay? It was a good 4 years after finishing uni that I was earning enough to pay anything back, i'm wondering whether that was usual or whether i've just been a bit slow.
I was wondering whether there are any posters here that went to uni at the same time and how much you still have to pay? It was a good 4 years after finishing uni that I was earning enough to pay anything back, i'm wondering whether that was usual or whether i've just been a bit slow.
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I'm going to be paying it until I die.
You won't be doing that (unless you die young ), they are written off after a certain number of years.
I owe around £30k and its only accruing interest. I will be paying it back for the rest of my working life (I went as a mature student so it will get written off around the same time as I retire).
This doesn't bother me in the slightest, I have to say.
My debt will look pitiful to the new generation of students.
Yes and no (respectively)
Most students getting loans today are never going to pay them off.
It's an absolute scandal that the government are charging interest at RPI + 3% on the new phase of student loans. RPI is supposedly no longer a recognised government statistic, with the (lower) CPI now favoured. Yet they use this obsolete measure to essentially punish graduates. It's f*cking appalling.
Thank God.
Me too :-(
It's 25 I believe. At the moment it looks as if it will be written off, no one I know is looking at earning a lot for a long time either I wonder what the percentage of write offs will be.
although in all fairness i've only had a decent job for the last two years :P
My manager at my old job (who was annoyingly my age) paid hers off in two years due to the insane wage she somehow fiddled....I've got a couple of mates who paid theirs off, but I doubt i'd do the same, I could think of better uses for £6k :P
It depends when you took it out. If it was taken out before before 2006(like mine) then it will be written off when you reach 65, if it was taken out after 2006 it will be written off after 25 years.
It depresses me a bit to think that i've earn't so little despite going to decent uni, but then quite a few of my friends are in similar positions.
Essentially, all I gained from Uni was a £40 a month defecit.
It took me 2 years to get a job to earn enough to start paying it off. A lot of my friends, also graduated in 2011 are still in retail jobs because they can't find a job in their field.
Not that bothered. Without it, I wouldn't have ultimately ended up with a job that's paying me enough to easily break the repayment threshold.
Your repayment threshold is the same as mine right - £15k odd? The national minimum wage would get you close to earning that
Perhaps they should have done a degree that has job prospects?.