If you have a student loan in the U.K. you are not always obligated to pay off the entire balance. After a certain period, the remainder of the loan will be written off. This period is dependent on when you graduate and what repayment plan your student loan is on.
If you do not know what student loan plan you are on, you can easily find out by following our guide – What Repayment Plan is my Student Loan. This guide details when each of the different student loan types is written off.
Repayment Plan 1
If you are on Repayment Plan 1, your write-off date depends on if you started studying in the 2006/2007 academic year or in an earlier academic year.
If you started studying in the 2005/2006 academic year or earlier, any remaining balance of your Plan 1 Student Loan will be written off when you turn 65.
If you started studying in the 2006/2007 academic year or later, your Plan 1 Student Loan will be written off after 25 years from the April after you graduate. For example, if you graduated in June 2013, your loan will be written off in April 2039 as this 25 years after April 2014.
If you receive disability-related benefits that prevent you from working, your Plan 1 student loan can also be written off.
Repayment Plan 2
If you are on Repayment Plan 2, any remaining balance on your Plan 2 student loan is written off 30 years after you first become eligible to repay. You become eligible to repay the first April after you graduate.
Similar to Repayment Plan 1, your Plan 2 student loan may be written off if you receive disability-related benefits and are unable to work.
Repayment Plan 4
If you are on Repayment Plan 4, your write-off date depends on if you started studying in the 2007/08 year or if you started studying in an earlier academic year.
If you started studying in the 2006/2007 academic year or earlier, your Plan 4 student loan write-off date will either be when you turn 65 years old, or 30 years after the first April after you graduate, whichever comes first.
If you started studying in the 2007/2008 year or later, your loan will be written off 30 years after the first April after you graduate.
Similar to Repayment Plans 1 & 2, your Plan 4 student loan may be written off if you receive disability-related benefits and are unable to work.