Re: Loan question (student)
My understanding is even death doesn't stop them from claiming the payment.
As for the period of the loan, again my understanding is that you have to pay - the loan gets written off, but then that is seen as a benefit and, therefore, is taxable - yes, you pay tax on the value of the written-off loan (tax timebomb).
The significant difference with UK Student loan is that it genuinely gets written off after the loan period (without being taxed)
|