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    Hi all,

    I read some articles about various students not being able to repay their student loan they had taken when they were students themselves. On the other hand I would like to hear from anyone who has had or is still having any problems with repaying his or hers student loan from the british government. Is it difficult to repay your student loan? Is it is certain that someone will get a job after graduating in order to repay his student loan? Has anyone known someone whose student loan destroyed his life or made it better? These are my main questions. If anyone has any knownledge of this matter please reply...

    Do not hesitate to write.

    Thanks in advance
    Luffy_San
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    I graduated in 2010 and have paid back £13 of my student loan since then. My issue is getting a job that pays above the threshold. For me, that's about £16k-ish, and I only reached enough to pay that this month because I left my job and had some holiday pay added to my normal wage.
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    Anyone ?

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    You completely misunderstand how the loan system works.
    Since 2008 repayments have been taken at source once you earn over the threshold. You cannot avoid it. If you earn under the threshold you pay nothing.
    After a certain number of years any outstanding loan is written off, however much it is.
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    (Original post by Luffy_San)
    Is it difficult to repay your student loan?
    Not at all. If you take out a UK student loan now, you don't have to start repaying it until you earn £21,000pa or more. A small proportion of your wage is taken out for repayment, and payments only increase if your wages increase.

    If you don't work and earn nothing, or you get a low-paying job, then you make no repayments. I graduated in 2011, went on to a Masters and then started a PhD - I haven't been required to make any repayments yet.

    Any outstanding debt is automatically written off (i.e. You do not have to repay it) 25 years after you graduate.

    Is it is certain that someone will get a job after graduating in order to repay his student loan?
    No, there is no guarantee that anyone will get a job which takes them above the repayment threshold.

    Has anyone known someone whose student loan destroyed his life or made it better?
    Once you reach the repayment threshold, the amounts taken from your wage packet each month are very low. Student Finance calculate that if you earn £21,000, you will repay £30 a month. More info here:
    http://www.studentloanrepayment.co.u..._schema=PORTAL

    Theoretically, having a degree should give you better job opportunities, improved earnings potential and therefore a better life, so the loan will improve your life in that way. However as I said above, there are no guarantees where employment is involved. These days, getting a good job and then progressing in a career, will take much more than just a degree.
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    (Original post by Klix88)
    Not at all. If you take out a UK student loan now, you don't have to start repaying it until you earn £21,000pa or more. A small proportion of your wage is taken out for repayment, and payments only increase if your wages increase.

    If you don't work and earn nothing, or you get a low-paying job, then you make no repayments. I graduated in 2011, went on to a Masters and then started a PhD - I haven't been required to make any repayments yet.

    Any outstanding debt is automatically written off (i.e. You do not have to repay it) 25 years after you graduate.


    No, there is no guarantee that anyone will get a job which takes them above the repayment threshold.


    Once you reach the repayment threshold, the amounts taken from your wage packet each month are very low. Student Finance calculate that if you earn £21,000, you will repay £30 a month. More info here:
    http://www.studentloanrepayment.co.u..._schema=PORTAL

    Theoretically, having a degree should give you better job opportunities, improved earnings potential and therefore a better life, so the loan will improve your life in that way. However as I said above, there are no guarantees where employment is involved. These days, getting a good job and then progressing in a career, will take much more than just a degree.

    thanks lassie... helpful info
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    (Original post by Klix88)
    Not at all. If you take out a UK student loan now, you don't have to start repaying it until you earn £21,000pa or more. A small proportion of your wage is taken out for repayment, and payments only increase if your wages increase.

    If you don't work and earn nothing, or you get a low-paying job, then you make no repayments. I graduated in 2011, went on to a Masters and then started a PhD - I haven't been required to make any repayments yet.

    Any outstanding debt is automatically written off (i.e. You do not have to repay it) 25 years after you graduate.


    No, there is no guarantee that anyone will get a job which takes them above the repayment threshold.


    Once you reach the repayment threshold, the amounts taken from your wage packet each month are very low. Student Finance calculate that if you earn £21,000, you will repay £30 a month. More info here:
    http://www.studentloanrepayment.co.u..._schema=PORTAL

    Theoretically, having a degree should give you better job opportunities, improved earnings potential and therefore a better life, so the loan will improve your life in that way. However as I said above, there are no guarantees where employment is involved. These days, getting a good job and then progressing in a career, will take much more than just a degree.
    Period of loan is incorrect.

    Loans post 2012 are written off after 30 years not 25.
 
 
 
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