Living abroad and how it relates to something Martin said on Question Time

Russco

On Question Time, Martin said something along the lines of 'whatever you earn, you'll have to pay back £400 per year'.


Do please correct me if I'm incorrect on that one.


So I'm curious as to how that squares with living abroad. As I live in Norway, according to the overseas threshold page on the Student Loans Company website, I am expected to pay back £295 per MONTH. Can this possibly be correct? I can't afford this much per month, it's a crazy amount to have to pay back!

unforeseen

Russco wrote: »

On Question Time, Martin said something along the lines of 'whatever you earn, you'll have to pay back £400 per year'.


Do please correct me if I'm incorrect on that one.


So I'm curious as to how that squares with living abroad. As I live in Norway, according to the overseas threshold page on the Student Loans Company website, I am expected to pay back £295 per MONTH. Can this possibly be correct? I can't afford this much per month, it's a crazy amount to have to pay back!

If you take the difference between your gross pay and the threshold for your country then that is the amount that SLC will use to calculate your payments. 9% of the difference will be your annual bill. Divide by 12 for monthly.

If you haven't sent them back the assessment form and evidence then they will expect you to pay the default amount which for Norway is £295.


You need to get in touch with them and send them the paperwork needed
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678653&_dad=portal&_schema=PORTAL

Russco

Ah I see. £82 per month is a lot more tolerable!


Many thanks.


Edit: Is my student loan tax deductible?

unforeseen

Russco wrote: »

Ah I see. £82 per month is a lot more tolerable!


Many thanks.


Edit: Is my student loan tax deductible?

No it isn't

unforeseen

Be warned, you need to do this each year, normally in the March