It took 10 years, three ex's, two countries, and living with my mother for a bit, but I finally paid it all off.
Ask me how I feel. The guy who took my final payment on the phone was happier than I was
this post was submitted on 13 Mar 2025
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My brother's in a similar boat (almost triple digits), so he's hiding out and waiting for it to blow over. I could have done the same maybe, but it would have been another 12 years and I was just sick of it.
Why did they do this to us? Sell us on the idea that the only way to land a cushy job was to go to uni, when there were barely enough jobs going around when we got out.
I hate this. I look at my parents generation with jealousy, they had no idea how good they had it
I remember when I was in college and they specifically took us to another campus, they were talking to us about university. It was basically sold to us as if "it's practically a free loan, you'd be silly not to get it."
We were all around the age of 17/18. If a bank or any other service had done that to us there would have probably been massive repercussions, maybe there would have been something brought up about us being miss-sold a product.
Looking back I feel it was very predatory given we were so young and essentially in a vulnerable state while trying to decide our futures.
Predatory is the right word. We were literally still kids, and they asked us to make a huge financial decision that would impact us for the rest of our lives....
I'm not being funny but if it's impacting you this much you must be earning a significantly above average wage, no?
I've been paying off my (plan 1) loan for 17 years near enough and it hardly makes a dent in my payslip.
Hah. It's more that I was working in a country that was weak against the pound, and that for some reason SLC charges way higher when you're working abroad.
So whatever I was earning, half would go to rent, a quarter would go to the loan (once you factored in the exchange rate), and I'd have that glorious other quarter to myself.
I am doing better than most I would say, but I also have a sewing machine and have learned through time how to patch my clothes, if that answers your question
It does indeed - the overseas thing is nuts! I guess they assume you've become an oil baron or something and must therefore be a secret moneybags?
You're doing better than me on the frugality front, I suppose I have the benefit of a UK based, mid level salary! I'm looking forward to my loan being written off in the not too distant future!