Education loan deferment limit to fall: Q&A on why it is occurring

Education loan deferment limit to fall: Q&A on why it is occurring

It absolutely was announced this week that the deferral limit for pre-1998 student education loans will drop from September, meaning more graduates will need to begin having to pay. But we have been contacted by many loan holders currently aggravated after difficulties with the purchase of loans to Erudio, whom question whether it has been done to appease the business that purchased a few of the education loan financial obligation.

At the moment, you aren’t a pre-1998 mortgage-style loan earning Ј28,775 or less can delay repaying their loan for per year – this really is called deferment.

But the Department for Business, Innovation and Skills (BIS) announced that from 1 September only those who earn Ј26,727 or less will be able to defer paying theirs, meaning fewer people will qualify from autumn (see the Student loan interest rates to fall MSE News story) yesterday. Continue reading “Education loan deferment limit to fall: Q&A on why it is occurring”