SLC overseas problem

expat_grad

Hi everyone,

I studied between 2005-08 so I think I have a "plan 1" type contract with the student loans company. A few years ago I moved to the EU to travel for awhile and am now studying a postgrad degree at a university here. My problem is I never informed the SLC that I was moving abroad for a couple of reasons. I didn't have a fixed address for awhile, or a steady income of which I could send proof etc. In the years since I graduated I've never earned over the repayment threshold so I had never begun repayments on my loan, same applies since living abroad, which I can prove. So it's not like I was moving to try and skip out on my payments! I logged into my SLC account recently and my balance is much higher than what I borrowed, maybe because of interest rate changes but I think it's more likely they've been adding penalties because I didn't keep in touch with them. I'm going to be starting a new job soon with a contract etc so I can get in touch with them with proof of income etc, my question is does anybody know if I can expect any fines, penalty demands etc? I'm worried that they've been fining me without saying anything, because I didn't have an address they could send it to and maybe I've run up huge arrears in the last 2-3 years. This is making me really worry about getting in touch with them. There are so many scare stories in the media about people having bailiffs sent round for non-compliance, but I also read that the rules are different pre and post-2012. Does anyone have an info/experience with this?

Ed-1

expat_grad wrote: »

Hi everyone,

I studied between 2005-08 so I think I have a "plan 1" type contract with the student loans company. A few years ago I moved to the EU to travel for awhile and am now studying a postgrad degree at a university here. My problem is I never informed the SLC that I was moving abroad for a couple of reasons. I didn't have a fixed address for awhile, or a steady income of which I could send proof etc. In the years since I graduated I've never earned over the repayment threshold so I had never begun repayments on my loan, same applies since living abroad, which I can prove. So it's not like I was moving to try and skip out on my payments! I logged into my SLC account recently and my balance is much higher than what I borrowed, maybe because of interest rate changes but I think it's more likely they've been adding penalties because I didn't keep in touch with them. I'm going to be starting a new job soon with a contract etc so I can get in touch with them with proof of income etc, my question is does anybody know if I can expect any fines, penalty demands etc? I'm worried that they've been fining me without saying anything, because I didn't have an address they could send it to and maybe I've run up huge arrears in the last 2-3 years. This is making me really worry about getting in touch with them. There are so many scare stories in the media about people having bailiffs sent round for non-compliance, but I also read that the rules are different pre and post-2012. Does anyone have an info/experience with this?

The non-compliance penalty rate only applies to post-2012 loans (RPI+3%).

If you haven't earned over the overseas equivalent of the repayment threshold (http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678668&_dad=portal&_schema=PORTAL) then you aren't in arrears and don't owe anything.

However you need to keep in touch with SLC with your circumstances or they can assume you are earnings over the threshold and engage debt collectors to try and find you.

expat_grad

ok, that's reassuring! So if I send the paperwork I have detailing my earnings over the last few years it should be ok? Thanks for your help!