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Should I tell student loans I'm going to live abroad for 2 years?
Hi all
I'm new to this site so hopefully this works ok
I recently got the opportunity to go and work abroad for 2 years teaching. I love my job and I'm excited to be able to go out and explore the world whilst saving money to come back here and buy a house.
My worry is that there is mixed messages about what I should do with my student loan. Some say tell them and they will recalculate what I have to pay whilst I'm there which will be a lot more than I pay now due to different taxing overseas.
Some say don't tell them and it will just pick back up again once I start using my National Insurance number when I return to the UK.
Some say tell them and take what every repayments they ask for otherwise you'll have a huge repayment to catch up on when I return.
I've heard of a 'payment holiday' which I can't seem to find much about online. I just don't want to get into trouble and I don't want to return to a huge debt load.
Any help and advice would be appreciated.
Thank you
Coza
I'm new to this site so hopefully this works ok
I recently got the opportunity to go and work abroad for 2 years teaching. I love my job and I'm excited to be able to go out and explore the world whilst saving money to come back here and buy a house.
My worry is that there is mixed messages about what I should do with my student loan. Some say tell them and they will recalculate what I have to pay whilst I'm there which will be a lot more than I pay now due to different taxing overseas.
Some say don't tell them and it will just pick back up again once I start using my National Insurance number when I return to the UK.
Some say tell them and take what every repayments they ask for otherwise you'll have a huge repayment to catch up on when I return.
I've heard of a 'payment holiday' which I can't seem to find much about online. I just don't want to get into trouble and I don't want to return to a huge debt load.
Any help and advice would be appreciated.
Thank you
Coza
0
Comments
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Tell them.
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678804&_dad=portal&_schema=PORTAL
(And no, you can't have a payment holiday.)0 -
I would say that it is prudent to anyone that you owe money to where your are. How many threads on here are entitled 'CCJ that I did no know about'? Most of those situations arise as people move and don't tell their creditors.0
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