Posted by on 12. April 2021

In February, after completing your studies, Erudio Student Loans will send you a letter telling you that you will start repaying your loan. MS loans can be terminated if the conditions set out in paragraph 12 of Appendix 2 of Appendix 2 of Education (student loans) Regulations (…) are met: if you change your address or bank details, let Erudio Student Loans know immediately. Otherwise, important matches may be delayed or refunds to your credit account may be missed. SLC does not hold any outstanding MS loan debt, anyone who believes that their loan is eligible for termination must contact the owner of the debt concerned (see… for debtor details). You are expected to make regular student loan repayments, as described in your study credit contract. If your financial status changes and you can no longer afford to pay back, you should contact Erudio Student Loans to discuss your options, including deferral. If you have a monthly repayment schedule by debit, these payments will continue to be deducted from your bank account while you are abroad. If you want to change the repayment terms, you can make payments by contacting Erudio Student Loans to arrange this.

To assist with your application, for age cancellations, if all MS loans were taken out and paid out before 1997 and a borrower was under 40 years of age and there were no arrears in the account, then the outstanding credit balance would be terminated at the borrower`s age of 50. If the borrower was 40 years of age or older when he last took out an MS loan, the balance of the loan would be terminated if the borrower had reached the age of 60 as long as there were no arrears in the account. This section should only be closed if you receive income from a source other than the income mentioned in Sections 1 or 2. If you have income from any of the other sources, please read section 3 of the notes in your deferral package for information on what you can provide; Please send photocopies of the documents contained in your application. For example, please confirm that if a person who took out a student loan before 1997 must celebrate his or her 50th birthday this year, that person`s loan expires on that person`s 50th birthday and no longer owes a portion of that loan.