I’m seeing more and more horror stories online about student loans. People paying their 9% salary deduction but the outstanding balance keeps rising. Thats due to the SLC policy of monthly compounding interest. Its evil imho. Interest owed becomes principal owed every month. Interest on interest on interest recurring. It may well get written off after 30 years but the costs until then affect young peoples ability to access mortgage or credit. And its only going to get worse as time goes by. ![]()
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If you move abroad - and work abroad - you can perhaps avoid communication with the SLC about your income and no longer have to pay their draconian repayments.
I would never do such a thing, which is of dubious morality, but it is something not impossible to imagine as possible.
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