If I move abroad do I still have to pay off my student loan?

Rosie75

undersecter wrote: »

Just to support the usa house prices and food prices are alot cheaper there is well.

Does anyone know the exact prices of food and drink there

you can also get health insurunce so if you injure yourself you will get treated without paying extra.

It's certainly cheaper to eat out in the US than it is here, but I wouldn't say supermarket prices are cheaper. The last time I went over there (last summer) grocery prices were pretty much the same as they are here.
Health insurance - fine if you can afford it, but a lot of Americans (including graduates) can't.

Chopper98

I posted a question about this on a thread I didn't notice this one, D'oh!

Obviously the way this question was asked is not ideal and has caused allsorts of abuse. (Somewhat understandably considering).

What i'm wondering is how much do they expect on a monthly basis in repayments? Is it the same in terms of how much you earn and the threshold? Or do the terms change to become more like a standard loan? My girlfriend is canadian and i'm considering moving in the future. I don't wish to get into an argument about which country is best, i would have every intention of paying it back so if anyone knows I would appreciate the advice.

Thanks

The_One_Who

As far as I am aware the SLC have different salary thresholds for different countries, taking into account the cost of living in that country and average wage there etc. You might be best contacting the SLC and see what they say about repayments whilst living in Canada.

whitfreak

The SLC does have different threasholds for different countries. It can be both higher and lower, switzerland is like 18k but some african nations is like 6k....

Look at section 9 of http://www.studentfinancedirect.co.uk/pls/portal/docs/PAGE/SPIPG001/SPIPS001/SPIPS008/SFD%20TERMS%20&%20CONDITIONS%200809.PDF
(or put "slc terms and conditions" into google its the first document) for what they say they do to non-payers.

moneymass

I wouldn't like to be in America and paying off my UK loan. Paid in dollars and loan payments in pounds!

outintheballroom

Erm, most everyone on here seems to dislike Americans :P I do too, and I live here- and our standards for repaying debt are probably not as stringent as other countries. We can barely keep track of our own national debt, let alone all of the citizens'. Someone said eating is a prerequisite for living here; that's kind of funny. There are a few people like that; however, it's the kids who are the fattest as their parents spoil them rotten. But anyway, every state is different, but in mine (PA), they have many, many laws protecting debtors. In fact, this year they passed even more laws in order to protect creditors from harassing debtors. Though they are more strict about student loans than unsecured debt like most credit cards. If you had charged your college on a credit card then perhaps they might've ignored it, or discharged it.

And to the person who asked about food prices- if you shop at a chain grocery store chances are you'll be paying about the same for food; however, locally grown and made foods are much cheaper, and we have many, many discount grocery stores- I doubt anyone pays as little as I do for groceries. You just have to know where to look. I can get 2 lbs. of chicken breast for little over a dollar- what's that, 55 p or so? I haven't had to convert dollars to pounds in a long time (had a British bf :P) so I'm not sure what the going rate is without looking it up. Health insurance, as most people know, is awful and ridiculous. If someone has no insurance and has a pre-existing condition, it'll probably cost her over $200 per month to get crappy health insurance.

"And then you have a nation where many seem to be so full of ego and self love, blaming any indiscrepency in life on god, and won't accept responsibilty for their own failings..."
-And that may be true. In fact, it is true (I live here, I know). Though from traveling a lot, and knowing people from all over the world, I can say that many countries are similar in that regard. The ego and self love is not contained solely in the US. And I'm atheist, as many Americans are- more atheists than Jews in America- so I don't blame God on stuff. Only myself.

But yeah, the point- the US may frown on student loan evasion, but not credit card. There's more to it, but that's the gist.

epiphone_2

has anyone heard of any concrete stories about what the SLC do if you have been abroad for some time and havent told them this? as most of the posts I have read are people quoting the SLC website or guessing what they might do. Im looking for evidence that they do this?

Oldernotwiser

The experience of one or two people hardly consistitutes evidence. However, if you aren't completing deferrment forms annually (assuming you're eligible to defer) you'll be running up large sums in arrears and charges. These arears and charges are handed over to debt collectors and the normal rules regarding repayments cease to apply. You then move into the same territory as someone who's defaulted on their credit card.

durhampoker99

What's with all the grief that this guy is getting?! People pay thousands of pounds to accountants to reduce their tax bill and everyone just views that as something that makes sense; nobody wants to give the government more than they have to!

I would never want to leave the UK but don't blast the guy for not loving this country. If someone gave me a way of legally not paying back my loans (except by never earning more than a few £k) then I'd jump at it, I'm sure most of you here would too.

The_One_Who

I don't think most people view those who get their accountants to fix their taxes in a good light.

If you have taken out a loan then you should pay it back. It's quite simple really.