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Paying Student Loans when Abroad?
Hi guys!
I wondered if any of u money saving experts could help me! I have a student loan of £9k - ahhhh. But next month I am emigrating to Australia. I wondered if any of you knew if I am legally required to pay it off if I am outside the UK / EU. Is there a loop hole which means if I am outside the UK so many years I don;t have to pay it?
Hope U can help!!
Tom
I wondered if any of u money saving experts could help me! I have a student loan of £9k - ahhhh. But next month I am emigrating to Australia. I wondered if any of you knew if I am legally required to pay it off if I am outside the UK / EU. Is there a loop hole which means if I am outside the UK so many years I don;t have to pay it?
Hope U can help!!
Tom
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Comments
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I am not expert in loopholes ...
http://www.dfes.gov.uk/studentsupport/uploads/ACF7488.pdf :Living abroad
If you are outside the UK tax system, for example, you are living and working abroad, you must tell the SLC how much your yearly income is. If you are eligible to make repayments, the SLC will then work out how much these should be (it would normally be done on the same basis as UK taxpayers) and will make arrangements with you to collect them directly.
This guide does not apply to those people with student loans who:• started their course in 1997/1998 or earlier;
• started their course in 1998/1999 but were classed as a gap-year student (see below);• could not start their course in 1997/1998 because their A level (or equivalent) grades were not good enough, but who were able to start a course in 1998/1999 after having their grades raised as the result of an appeal; or• started their degree course immediately after completing a HND or Dip HE course in 1997/1998, 1998/1999 or 1999/2000.If you fall into the categories shown above, you will have taken out fixed-term (sometimes known as ‘mortgage-style’) loans. You will find the terms and conditions for these loans in the individual loan agreements you signed when you took the loan out.
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Hiya Tom- I'm living and working here in Dubai and paying off my student loan each month. It's a debt that I don't want hanging over my head!Debt /Overdraft/Everything Free December 2007 :j0
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