Most people will not need to pay their student loans back in full

Thu, 13 Oct 2011

Most university goers will not be required to fully pay off their student loans, it has been claimed.

Johnny Rich, editor of Push.co.uk - an independent guide to UK universities and related subjects such as student finance and gap years - explained this debt is dispensed with after a period of 30 years.

The industry figure noted this eventuality is likely for the majority of individuals borrowing money in this manner, observing: "Most students will pay off only a fraction of what they owe, because the rest will be written off by the government."

Mr Rich pointed out, however, that undergraduates may find they face increasingly higher levels of debt, as the British system appears to be heading towards a US-style model of payment.

This needs to be taken into context, though, he stated, as this approach often offers poorer individuals extra financial help in the form of scholarships.

His comments follow those of Paul Lewis, vice-president of Client Confidential, who claimed it is vital scholars establish sensible purchasing habits when spending their student loan .
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