When are student loans wiped?
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I'm deciding if I should pay off my student loan, but maybe I am better off waiting for them to be wiped.
rsmith1
1 year ago
Expert Financial Adviser Answer
James Brooke
answered 1 year ago
The moneysavingexpert website has a very good section on student loans. See
http://www.moneysavingexpert.com/loans/student-loans-repay#when
for the answer to yoru question.
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http://www.moneysavingexpert.com/loans/student-loans-repay#when
for the answer to yoru question.
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
One has to ask why you think you deserve to have the debt wiped out, after all you cant decide to not pay for your holiday after you have already taken it, can you?
This of course is a generalisation but it seems odd that some people suddenly think its fine to agree to pay for something and then change their mind. This of course hasnt been helped by previous governments encouraging people to scrap their car (often perfectly serviceable) and take out finance on a new one just to get a scrappage allowance that will destroy the initial car just because its old.
People would be up in arms if you suggested a similar approach to old people!
and of course the rolled up debt problems were made worse by encouraging people saving on low mortgage rates to spend the money rather than pay off their debts, resulting in "quickie bankruptcies" as the solution to all the problems - except the one in the future when you are more financially settled and want to buy a house or perhaps open a bank account.
i find this question to be somewhat contraversial.....
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This of course is a generalisation but it seems odd that some people suddenly think its fine to agree to pay for something and then change their mind. This of course hasnt been helped by previous governments encouraging people to scrap their car (often perfectly serviceable) and take out finance on a new one just to get a scrappage allowance that will destroy the initial car just because its old.
People would be up in arms if you suggested a similar approach to old people!
and of course the rolled up debt problems were made worse by encouraging people saving on low mortgage rates to spend the money rather than pay off their debts, resulting in "quickie bankruptcies" as the solution to all the problems - except the one in the future when you are more financially settled and want to buy a house or perhaps open a bank account.
i find this question to be somewhat contraversial.....
