Student loans and moving abroad

dinkylou

James,

That'll be because they normally arrive in September. The end of the financial year is in April when the payments are added up and the interest added but we dont get statements til Sept.

My problem with the OP is not that he is going abroad or wants to defer payment etc but that he intends not to tell them where he is EVER, and therefore not pay back his loan at all.

This is basically fraud and no different to anyone else who knowingly runs away from debt with no intention of paying.

cupid_s

james23_uk wrote:

The student loan company can go swival. What other kind of lending company would be able to get away with one poxy statement a year. Not even a call to their customer services can get you an up-to-date total amount outstanding. You have to wait until the out-of-date annual statement arrives. I'm still waiting for my one from April of this year.

The kind of lending company that loans you £20k at just over 3% interest.

They are utter rubbish but the rates are low. Maybe if we paid more interest to them they could employ more people to issue us with monthly up to date statements.

You wanna suggest that to them?

CLAPTON

the reason why the student loans company can't give you monthly updates is that the money is collected by the HMRC (inland revenue as was).
The HMRC only gives the SLC the information once a year. So you should be critising the HMRC rather than the SLC.
(thats for the 'new' rather the the 'old' loans)

heyhumm

Standard payment rate for abroad is £245 per month and they can take this directly from your wages overseas apparently. If you fill out all the info properly they will work out what you can afford as they would here so you're paying a fair amount.

from what I read on the education website this is not true, they simply work it out on 9% above 15k like they do here.

Simple logic would suggest what you're saying is untrue. In some countries the wages are very low. You can't pay £245 and it doesn't stop being an 'income contingent loan' when you go abroad either, ie the more you earn the more you pay, the less you earn etc.

james32_uk

cupid_stunt wrote:

The kind of lending company that loans you £20k at just over 3% interest.

They are utter rubbish but the rates are low. Maybe if we paid more interest to them they could employ more people to issue us with monthly up to date statements.

You wanna suggest that to them?

OK, so my attack on them was a little uncalled for (they're peeing me off currently), but dont think for a moment they're only getting 3% on your loan. They'll be being subsidised big time by the government and that's why they need to give even less of a toss about the customer than other lenders.

CLAPTON

For th avoidance of doubt the SLC is a public body owned by the government.

grumpytaxpayer

I am incensed by the number of people I know who have had loans and moved abroad consequently not rep aying their loan.
Is there a system like benefit fraud where by you can let SLC know their address to make it easier to track them down.

cgk1

Doesn't take long for the copper's narks to come out of the woodwork!

Oldernotwiser

This thread is two years old!