Hey, I'm a little confused about this matter. I am on a plan 2 loan. I understand it gets written off after 30 years. My issue is when do the 30 years start? I am finding the wording on all the official sites ambiguous.
Do the 30 years start:
- The first april after graduation (so if I earn under the repayment threshold for the first 5 years and then over for the next 25 over the threshold, I will pay for just 25 years and the loan is wiped off)
or
- 30 years after earning above the threshold (so i dont pay for the first supposed 5 years I am not earning above the threshold but then the following 30 years I do - all in all 35 years before it gets written off)
Mayble I'm overthinking this but if someone could clarify for me I would be very grateful. Thank you.