What will happen to all these student loans which will never be paid back?

[alchresearch]

Considering the repayment hardly breaks the bank, I would imagine any student wanting to get on in life would work towards getting a good job with a good salary and pay it back.

[horribleblob]

What happens if a student gets a loan, uses it to pay for their degree then uses said degree to find work abroad. Can the loan follow them?

 

I once worked with a Canadian who was over here because the authorities back home were chasing her for repayment of a student loan. After a couple of months, she moved on.

 

I can see a future government retrieving outstanding student loans as a death duty/inheritance tax, irrespective of the threshold.

[llamatron]

As the average UK salary is around 25k, and that for those who go to university it is higher, I would assume that the vast majority will earn over 21k.

 

That has nothing to do with whether it gets written off or not. You pay only if an when you are earning a good wage and whatever you haven't paid off after 30 years gets written off. I am not sure but I think if you fall below the payment line you stop paying again. Its basically just a graduate tax. Its really not a problem.

[llamatron]

there was an interesting program on one of the business channels , the problem in the USA is quite horrrendous . the student loan debt is over a TRILLION dollars with individuals owing over $200k . bankrupcy is not an option as the debt cannot be written off and the debt collectors quite aggressive ,persuing the students family members as well .quite a few have just woken up to the fact that they are stuck with this for life and will never get out of the debt trap

 

but this is not the system we have here.