Student Loan living overseas

JoeBloggs80

Poolie wrote: »

SLC can demand the whole amount back to charges and interest payments in one go so better to be upfront and straight with them.

Has anyone ever heard of a case where they have done this?

Raggs_2

It's only 9% of anything you earn over the threshold, so I really can't imagine it being too much for harekrishna. Even earning 20k would be less than 800 pounds a year, less than 70 pounds a month.

Oldernotwiser

Raggs wrote: »

Even earning 20k would be less than 800 pounds a year, less than 70 pounds a month.

Not a maths student, I hope!

Raggs_2

No, but I couldn't be bothered to do 9% of 8000, and then divide the result by twelve for monthly payments. Lets show my working out this time.

8000/100 * 9 = 720 (less than 800)
720/12 = 60 (less than 70).

Not bad for 2 seconds calculation, though an extra 10 would have got me the correct answer I suppose .

henah

I have a student loan from 2003-2006. At the end of 2006 I moved to Spain and was travelling around and earning a pretty low wage for most the time. I have had a stable job for the last year and a half and am earning enough to pay back my student loan.

The problem is I have not made a single repayment and I have not received any letters from slc to my home address in the UK asking about my whereabouts etc.

I would like to start paying my loan back now but am worried that as I have made any payments or informed them that I am overseas ever that they will fine me massively.

Does anyone know what sort of fine I would get, and if the fine is taken off your balance or is additional to my loan, and if there is any way of avoiding this?

thanks a lot

ViolaLass

Could someone who has contacted the SLC recently tell me how they did so please? Did you write? If so, where to? I have scoured their site to find an address to write to (I don't want to call as I have 'fond' memories of spending hours and tenners at a time on hold to them when I was a student). I want to tell them my new address (I still have access to the old one so it's not urgent) but can't work out how to.

Also, I finished university in 2006 and have never heard from them (not even a 'this is your balance' letter). Should I be concerned?

Poolie

henah wrote: »

I have a student loan from 2003-2006. At the end of 2006 I moved to Spain and was travelling around and earning a pretty low wage for most the time. I have had a stable job for the last year and a half and am earning enough to pay back my student loan.

The problem is I have not made a single repayment and I have not received any letters from slc to my home address in the UK asking about my whereabouts etc.

I would like to start paying my loan back now but am worried that as I have made any payments or informed them that I am overseas ever that they will fine me massively.

Does anyone know what sort of fine I would get, and if the fine is taken off your balance or is additional to my loan, and if there is any way of avoiding this?

thanks a lot

they will not fine you but you should phone them to let them know. You will have been charged interest on the whole amount outstanding so you would have been punished enough.

You can phone or complete the form yourself (http://www.slc.co.uk/pdf/OVFA.pdf) remeber to send in your last 3 months payslips and they will work out if a repayment amount is due.

Poolie

ViolaLass wrote: »

Could someone who has contacted the SLC recently tell me how they did so please? Did you write? If so, where to? I have scoured their site to find an address to write to (I don't want to call as I have 'fond' memories of spending hours and tenners at a time on hold to them when I was a student). I want to tell them my new address (I still have access to the old one so it's not urgent) but can't work out how to.

Also, I finished university in 2006 and have never heard from them (not even a 'this is your balance' letter). Should I be concerned?

If they are received mail back form a previous address then they would put a stop on all correspondence. You can write to SLC at the address below:

Student Loans Company
100 Bothwell Street
Glasgow
G2 7JD

They should accept your new address if you can provide a reference number.

languagemalta

Its really good...but in this situation you can go with a proper bank,like Govt. Bank..they can help you with understanding your problems....anyway thanks for sharing...

jojon440

Raggs wrote: »

No, but I couldn't be bothered to do 9% of 8000, and then divide the result by twelve for monthly payments. Lets show my working out this time.

8000/100 * 9 = 720 (less than 800)
720/12 = 60 (less than 70).

Not bad for 2 seconds calculation, though an extra 10 would have got me the correct answer I suppose .

Yeah not bad, except that you originally quoted a 20k salary, not 8k...