2007-09-25 23:24:27 · 12 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
nope. And you should still pay it back even if you aren't in the country
2007-09-25 23:27:19 · answer #1 · answered by Stephen M 6 · 0⤊ 0⤋
I presume you mean student loan as in the one from the government and not from the bank?
The government loan will be taken out of your wages once you earn over a certain amount. It isn't a lot, its like 9% of any money you earn over 12K or something, but don't quote me on the actual figures.
If you leave the country officially i'm sure they'd sort something out so that you would still need to pay it.
They don't add interest on it though, that is just the banks.
If you don't want to pay it back, simply don't get an income.
2007-09-27 07:51:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In your dreams!! You have to inform the loans company if you move abroad and you are still expected to pay loan installments back.
If the loan was taken out before September 2006 it will be written off when you reach the age of 65.
If the loan was taken out after September 2006 it will be written off after 25 years.
For more info:
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/FinanceForNewStudents/index.htm
2007-09-28 09:38:40 · answer #3 · answered by ammie 4 · 0⤊ 0⤋
Well they can do after x amount of years in certain circumstances, but this in not dependant on your having lived in or out of the country. Although it is unlikely, remember it really affects your credit rating. You can find this out by using Experia and get your credit rating you can do it on line or pay I think it's about £2.00. Finally you can arrange to have a repayment scheme set up.
2007-09-27 04:02:12 · answer #4 · answered by Alison B 3 · 0⤊ 0⤋
No, they wait and wait and wait adding interest and charges as they do. Even if you have deffered payment you should still set up a direct debit to pay them back £15 a month so the interest doesnt grow and the amount comes down (allbe it very slowly)
2007-09-26 07:32:31 · answer #5 · answered by Rich S 5 · 0⤊ 0⤋
The bank will pass or 'sell' it on to a debt collecting agency who will persue you forever as long as they have your name and a trail to chase u.
These things have a habit of catching up with you at some time in the future and can upset your financial plans.
Best to clear it at your age as you have a long way to go in the world of Credit.
2007-09-25 23:32:29 · answer #6 · answered by JJ 2 · 0⤊ 0⤋
Yeah they just write the debt off as not worth chasing.
Go back to the bank and they'll also give you a new loan to spend how you like without repayment. It's easy money innit.
2007-09-25 23:27:55 · answer #7 · answered by Narky 5 · 0⤊ 2⤋
Very simple - NO. They may not bother chasing it though. You have to take the chance, but don't be too surprised when those nice men with the removal van turn up outside your house.
2007-09-25 23:32:57 · answer #8 · answered by Anonymous · 0⤊ 0⤋
no you still have to pay the remaining balance in small repayments once you have started to earn 15k if you dont clear it in 15 years its writeen off
2007-09-26 11:43:43 · answer #9 · answered by Perfectionist 6 · 0⤊ 0⤋
No. And they will certainly be adding interest to the debt. If you are not in touch with the lender I'm sure the skip tracers are looking for you. Welcome Home!
2007-09-26 00:00:55 · answer #10 · answered by bob - chicagobob 2 · 0⤊ 0⤋