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  #1  
Old 08-01-2008, 09:52 AM
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Default Do you pay back student loan after leaving work forever?

I know that they stop taking your repayments if your income drops below the threshold, so if you go on maternity leave and then go back to work they will start taking again - but what happens if I go on maternity leave and then decided never to return to work? What happens to my debt and does it still accrue interest whilst you are on maternity leave / have left work?
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  #2  
Old 08-01-2008, 09:52 AM
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Don't worry, the rest of us hard working tax payers are more than happy to pay YOUR loan back out of our hard earned taxes!
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  #3  
Old 08-01-2008, 09:52 AM
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You have a debt which you have to repay - end of. You can keep deferring it but it is still accruing interest and you will have to pay it back at some time.
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  #4  
Old 08-01-2008, 12:03 PM
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I believe that they may attempt to make the person paying the bills for example your boyfriend/husband to pay back the student loan as if everyone did this there would be a problem in the system
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  #5  
Old 08-01-2008, 02:32 PM
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They only take money on anything above £15000 you earn, when u leave work for good, they follow the loan for 15 years, if after 15 years you still havent paid off the loan, any remaining amount is wiped off and you become free of debt. In the case of maternity leave, to my knowledge interests is still added to the loan to keep the amount of money you borrowed in line with what it is worth today.

Hope this helps.
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Old 08-01-2008, 03:33 PM
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I think it cancels itself out if you havent been working for 25 years.
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  #7  
Old 09-02-2009, 01:41 PM
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Quote:
Originally Posted by anon View Post
Don't worry, the rest of us hard working tax payers are more than happy to pay YOUR loan back out of our hard earned taxes!
Yep, I also don't mind paying for MPs expenses and other crap...

Saying that I paid my student loan back 100 times over since I have been paying Tax since I was 16 years old and working through school college and uni. After all I paid a lot fo Tax and I never got anything out of it... EVER!!! And I get called a freeloader
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