What should I expect when I call Student Loans?!

costelloe16

Hi,

I'm THAT student, the one who didn't pay attention to how loans worked, and now I want to pay it off, after not paying for 3 years as I moved to Oz!

I want to do the right thing and pay it off, but I'm hearing horror stories where it's not that simple.

Some people are saying they've had fines if you call. Some people are saying they can't do anything if you you're not in the country - all the usual myths etc.

What I want to know - is what will happen if I call and start asking for my details? Or trying to set up payments?

I want to call, give them my details, get my login details again, get into my account and work out a reasonable amount to pay off. I live in an area with high wages but very high cost of living in a remote town in Australia so 9% of my wage isn't really going to work like it would for normal city jobs!

Should I be more sneaky, e.g not give anything away on the phone, try get my details casually without explaining anything and set up my own payments somehow?

Basically what's the best way for me to do the right thing now that I know, without being penalised and chased!

I know some loans companies would rather you pay something than nothing, are these the sort of people that have the ability to reason with to pay a reasonable amount?
Also - is the amount you pay (minus the threshold) 9% of what's left after tax, or before tax?

DCFC79

Just call them and set up a payment plan.

Pixie5740

If you want to do the right thing you won't be sneaky about it.

Your correspondence from SLC will have told you that you should have contacted them when you move aborad. Where is your correspondence from SLC currently going? It's your responsibility to inform them of a change in address.

You'll need to contact them to set up a payment plan as you are living abroad. As you are living and working in Australia your income does not fall under PAYE so SLC cannot take the money at source. Instead they'll work out repayments the same way they do for self-employed people like myself and base it on the previous year's income.

Just phone them and sort it out.