Traced for student loan abroad

thefamousgoose

Hi there

I'm currently working abroad, and will be doing so for the forseeable future to save up to retrain as a school teacher back in the UK.

As I need to save for my future and have more pressing c/c and overdraft debts in the UK, I didn't inform the SLC of my whereabouts and so haven't been paying back my student loan. I've been here a year and a half with no word from them and will likely be here another 2-3 years before returning home.

I feel I'm playing a dangerous game here and even though I can't really afford it get the gut feeling I should inform the SLC of where I am and start paying before they catch up with me, especially as I might need student funding (though not necessarily from them) in future.

The one friend I have in a similar situation did eventually get caught after 2 years, but didn't get asked to pay any penalties or backdated money, just the standard rate. Is it worth risking it and waiting till they find me, or should I be honest and own up? I know it's my fault if they put me on a default payment!

Miss_Havisham

in the interests of we tax payers who provided the loan in the first place I would suggest honesty as your best policy.

Tim_Bisley

Think very carefully before not letting them know. I am in the process of going abroad and have been going through their site. There is a default charge that they can apply if you go abroad without telling them, and this changes country by country. If you got to Switzerland, for example, the default charge is £344.40 per month. They may not charge this as in the case of your friend, but are within their rights to do so.

It is still income contingent - you are best to let them know and get it sorted out, as otherwise you could get some hefty charges. As far as I know these don't become statute barred either.