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**HugoSimon** · 09-08-2011, 06:34 AM

This issue is only raised because of the government's law, which states that the person must pay it back only when they are earning 15k per annum. If the person knows they won't be earning that much, then they know they don't have to repay it. Therefore they also know that the interest doesn't play a part.

Ahh I see what you mean now, I was thinking of something else my sister said once in order to scam the system. Apologies. In that case it would be permissible, since the terms of the contract do say the loan is only payable if you earn over 15k. However, the only issue which may arise from this is the time frame this is applicable for.

Your Student Loan is automatically written off if you have not paid it off within 25 years. So as soon as you hit 25 years, whatever you owe SLC, it will be written off. Now if the person in question can guarantee themselves that for the next 25 years after graduating they will not earn a penny above 15k and thus not one penny will be paid back to the SLC, then I guess, with the terms of the contract that would be permissible.

But 25 years is a very long time, and as Sister Somali Lioness said 15k is usually standard, besides, the want for money can tempt the person to do higher paid jobs earning more than 15k in which SLC will take money out.

But in answer to your question, if for 25 years they dont earn a penny above 15k, then it is permissible as it is in line with the contract as far as I know, unless their is some small print I missed.

09-08-2011, 06:34 AM	#9
HugoSimon Join Date Oct 2005 Posts 495 Senior Member	This issue is only raised because of the government's law, which states that the person must pay it back only when they are earning 15k per annum. If the person knows they won't be earning that much, then they know they don't have to repay it. Therefore they also know that the interest doesn't play a part. Ahh I see what you mean now, I was thinking of something else my sister said once in order to scam the system. Apologies. In that case it would be permissible, since the terms of the contract do say the loan is only payable if you earn over 15k. However, the only issue which may arise from this is the time frame this is applicable for. Your Student Loan is automatically written off if you have not paid it off within 25 years. So as soon as you hit 25 years, whatever you owe SLC, it will be written off. Now if the person in question can guarantee themselves that for the next 25 years after graduating they will not earn a penny above 15k and thus not one penny will be paid back to the SLC, then I guess, with the terms of the contract that would be permissible. But 25 years is a very long time, and as Sister Somali Lioness said 15k is usually standard, besides, the want for money can tempt the person to do higher paid jobs earning more than 15k in which SLC will take money out. But in answer to your question, if for 25 years they dont earn a penny above 15k, then it is permissible as it is in line with the contract as far as I know, unless their is some small print I missed.
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