Terms & Conditions 1992/1993

[alfwithhair]

Hi does anyone know a site where I can read the the terms and conditions of student loans for the year 1992/1993.

As I seem to remember that in stated that the loans were wrote off upon reaching the age of 50? not 65.

So need to check the details

Thanks

Alf

[hackers0ns]

I had a student loan in 1997 - and I remember the same thing being part of my agreement. It definately said that the loan would be wiped after 15 years, or reaching 50, whichever came first.

 

I would also like to check this, but the SLC have taken information about old style loans off their website. I think if you do an SAR you might be able to get hold of this info. I'm going to try that, but if anybody else knows more then please let me know.

[alfwithhair]

Thats for the reply hackers0ns.

 

I finished in 1994 and remember the same being mentioned in my agreement. keep me informed with your finding as I will you should anything new come to light.

[krysus]

I S.A.R - (Subject Access Request)'d the Student Loans Co not long ago... got a copy of my agreement from 1993/1994...

 

8. Cancellation of Repayments

The present regulations provide for (a) cancellation of repayments if you die and (b) cancellation of repayments (so long as you are not in breach of any obligations to us) if (i) you are aged under forty when you last enter an agreement to borrow from us and you attain age fifty or all all or part of your last borrowing from us has been outstanding for at least twenty five years or (ii) you are aged at least forty when you last enter an agreement to borrow from us and you attain age sixty.

 

An oversight on my part, but just noticed my agreement is not countersigned by the SLC - bonus, that's unenforceable then

 

I will try to scan it in, but it's not a very good copy...

[alfwithhair]

8. Cancellation of Repayments

The present regulations provide for (a) cancellation of repayments if you die and (b) cancellation of repayments (so long as you are not in breach of any obligations to us) if (i) you are aged under forty when you last enter an agreement to borrow from us and you attain age fifty or all all or part of your last borrowing from us has been outstanding for at least twenty five years or (ii) you are aged at least forty when you last enter an agreement to borrow from us and you attain age sixty.

 

 

Great Stuff. That one less thing to worry about next year. The big 50, so SLC goodbye.

[maybelline]

The Education (Student Loans) Regulations 1992

 

hope this helps, if you google for the regs you will find lots of them, so you need the one relevant to the one you signed:)

[alfwithhair]

Thanks maybelline. This is what I have been looking for. I think I need to go to specsavers, I looked on google and found nothing.

[maybelline]

hopefully, we will fight them together, there are many threads on the problems with student loans and the later agreements seem to have even more issues, I have just started yet another, I could have done without this fight right now but since they have now instructed solicitors I have no choice, they ignore my letters, appear not to have the deferments and are a pain in the you know what!

[LyncusBee]

Would this clause not overrule the statute limitation of six years since 25 years is stated in the contract? I am confused as apart from misadministration this is the backbone, currently, to the loan presented to me today after 14 years....see my case LyncusBee Vs SLC

[maybelline]

lyncusBee, do you have a link?

[maybelline]

have a look at some of the Limitations Act threads, I think if there has to have been no activity at all, payment or acknowledgement of the debt for six years, if say, two years ago, you acknowledged the debt in some way then the six years starts from then, i.e they can chase you now.

 

if you had deferred for example might be construed as acknowledging having an agreement with them, within the six years.

 

re reading the regs,

'(2) this paragraph applies to a borrower who is not in breach of any obligation in relation to any loan and -

(a) if he was aged less than forty when he last entered into an agreement for a loan, if he attains the age of fifty or if the loan for which he last entered into an agreement has been outstanding for not less than twenty-five years (whichever event is the sooner)' or

(b) if he was aged not less than forty when he last enteredinto an agreement for a loan, if he attains the age of sixty.

 

so I think they are saying that if it has been outstanding for 25 years but that would be by their authority without breaking your obligation to them, which they will argue is to defer and have that agreed, then the agreement would be cancelled.

[LyncusBee]

I corrobatated with a representative that no communication (deferments or payments, or otherwise) at all had been made on the account in, at least, the last six years; further I reckon ( without a Data Protection Act disclosure request) the last fourteen years, the account simply became mothballed: Pivotally since they have had current contact details for me, at minimum the last 3.5 years during which time I have received financial support and I am reasonably certain that they have had contact details for me in '96. I fail utterly to see why they could not contact me to discuss such a matter at an earlier date.

 

Unfortunately (and with future societal implications) this, though reasonable to me, does not necessarily constitute a legal defence; such as common sense and law seem to have become divorced without regulation!

 

One once said that `the pen is mightier than the sword'; I would bring that into a more modern context by saying `combined experience and knowledge could be mightier than conspired greed and misinformation'

[maybelline]

it is a problem, I see 'incompatability' of some kind, the Limitations Act has the six year with no contact stuff but the SI appears to also say that you have to make contact i.e. defer continually otherwise you will be charged, I would like to know the legal position here?? confused!

[maybelline]

9. Notwithstanding the provisions of regulation 8, the loans administrator may, in the case of a borrower who is in breach of an obligation to repay any loan instalment, do either or both of the following, namely:

(a) grant any relaxation or indulgence to the borrower which does not vary the agreement for the loan;

(b) require the borrower to make an immediate repayment of the outstanding amount of the loan:

Provided that the loans administrator shall not grant any relaxation or indulgence in accordance with paragraph (a) unless it is satisfied that such action represents a more effective means of recovering the debt due under the agreement than instituting legal proceedings against the borrower.

Repayment by disabled borrowers

10.—(1) In the case of a borrower receiving any disability-related benefit (as defined in regulation 11(5)) at the beginning of or at any time during the period of repayment determined in accordance with regulation 8, the loans administrator may do all or any of the following, namely:

(a) allow the borrower to commence repayment of the loan at such date later than that provided by regulation 8 as the loans administrator considers appropriate; or

(b) allow the borrower to defer making repayments of the loan until such later date; or

© allow the borrower to make repayments of the loan in such greater number of instalments of such lesser amounts than those provided by regulation 8 as the loans administrator considers appropriate:

but interest on the loan shall continue to accrue and to be added to the outstanding amount of the loan during any period in which repayments are not being made or any extended period of repayment.

(2) The loans administrator may exercise any discretion conferred on it by paragraph (1) notwithstanding that the outstanding amount of the loan will not in consequence be fully repaid before the borrower's liability in respect thereof is cancelled by virtue of paragraphs (1)(b) and (2) of regulation 12.

 

 

so loans administrator should be flexible IMO

[maybelline]

Cancellation

12.—(1) A borrower's liability to make repayments in respect of all loans shall be cancelled if—

(a) he dies; or

(b) he is a person to whom paragraph (2) applies.

[alfwithhair]

Has anybody had a letter from student Loans saying there account has been sold to 'Thesis'

 

I got one on Saturday 4th October. 2 days before my accounts would became cancelled under the following;

 

8. Cancellation of Repayments

The present regulations provide for (a) cancellation of repayments if you die and (b) cancellation of repayments (so long as you are not in breach of any obligations to us) if (i) you are aged under forty when you last enter an agreement to borrow from us and you attain age fifty or all all or part of your last borrowing from us has been outstanding for at least twenty five years or (ii) you are aged at least forty when you last enter an agreement to borrow from us and you attain age sixty.

 

Student Loans Glasgow say they have nothing to do with my account now and all correspondence should be forwarded to

 

Thesis Servicing

PO Box 141

Caerphilly

CF83 9BX

 

Might this be a get out clause to continue collection of an account that would otherwise be cancelled?

Would the same terms and conditions of the original agreement still be in force?

 

I was 50 yesterday, so this account should now be cancelled under the terms of the original agreement.

 

Any one got any views on the matter.

Ta

Alf