Student loan and moving overseas

MoochyMoo_3

Hi, was wondering what would happen to my student loan should I choose to move overseas after I finish uni and live there. Will I have to continue paying it at the same rate etc? Thank for any help

jr666

depends where you move to; if you move to deepest darkest africa i doubt they will ever chase you up

seriously i think the debt goes with you though

cgreen_3

I moved to the USA for 3 years + returned last summer. The Student Loans Co will send you a letter when you are due to start your repayments, which will include an overseas form. You must provide information on employment, etc.

Your loan won't be forgotten or written off! If you are earning a wage abroad you will have to make repayments. And if you don't tell them you are working abroad then you break the conditions of your loan, meaning you could be charged a higher loan rate or fined.

(However, although I returned the form, with copies of my payslips they "lost" the fax I sent, despite the fact I have an email from an employee confirming its receipt.)

An additional problem with working abroad is that you will have to deal with fluctuating currencies + the cost of exchanging your salary to sterling.

So, my advice is that whatever you send to this company, send it by recorded delivery + keep copies.

njb1001

I have heard of an account being lost (after a move to Oz) - but unfortunately they never lost my account (or anyone else I know out here in Germany).

I have got about 6 months left to pay on mine - but they can't seem to agree on the final sum owed. Keep copies of everything & note who you speak to & when.

At least I know I will have paid off the debt mid 2006!! Now that is a good feeling!!
N