Repaying Student Loans 2009/10 guide discussion
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Hi,
I have 2 student loans - 10k taken out from 2001 for an undergraduate degree, and 7k for a PGCE taken out in 2009. What's the SLC policy re applying payments - does anyone know where I can find information on how they apply it, if the loans get wiped etc?
Charlotte0 -
charlotteu wrote: »Hi,
I have 2 student loans - 10k taken out from 2001 for an undergraduate degree, and 7k for a PGCE taken out in 2009. What's the SLC policy re applying payments - does anyone know where I can find information on how they apply it, if the loans get wiped etc?
Charlotte
SLC Repayments website has the details you want. You'll start paying back your loans once you're earning over £15,000. If you pay tax via PAYE you'll pay your loans back through the same system.
HTH0 -
This seems to be a very useful website!
I'm in my third year at uni, and by the time I'm finished I will owe £28,000. I'm studying for four years, in London for some of it.
Hopefully I will get a highly paid job.
I heard somewhere that there is a loophole in the agreement to do with being abroad. I know you have to pay the loan if you are simply abroad, but maybe it was something to do with being a permanent resident or something... please tell me if you know anything about this.
It's alright for medics and architect students - they can study for a long time but they know they'll get highly paid jobs. I'm a designer and there is no guarantee. I may be forced to move abroad anyway. Do different countries have better rates of interest or something?
Thank you for your help.
Lior0 -
I moved abroad, not sure I want to repay back that biased scots student loan company, so we pay taxes on all sorts of things, and !!!!!! do scots students get, a !!!!!!! grant, this is all part of the brown blair legacy and they were evil old !!!!!!s the pair of em.
I say make things even between scots and english and I'll consider paying back0 -
I started receiving my student loan in 2007 and have since graduated from my course with my degree, so now have my student loan hanging over my head. I am currently abroad looking for work and was wondering what would happen if I was to never be employed again in the UK? When you leave the country and get a visa that permits you to work in another, are you expected to pay the loan back out of your wages like you would in the UK?0
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I started receiving my student loan in 2007 and have since graduated from my course with my degree, so now have my student loan hanging over my head. I am currently abroad looking for work and was wondering what would happen if I was to never be employed again in the UK? When you leave the country and get a visa that permits you to work in another, are you expected to pay the loan back out of your wages like you would in the UK?
Under your loan T&Cs you are meant to inform the SLC if you move overseas for more than 3 months. You are required to make payments directly to the SLC. The income threshold for repayment may different than the £15,000 in the UK depending on what country you are living in. For Overseas Thresholds and other information about paying whilst overseas see the SLC repayment website HERE0 -
I heard somewhere that there is a loophole in the agreement to do with being abroad. I know you have to pay the loan if you are simply abroad, but maybe it was something to do with being a permanent resident or something... please tell me if you know anything about this.
Do different countries have better rates of interest or something?
You should inform the SLC if you are moving overseas for more than 3 months, whether it's going to be permanent or not. The interest rates I believe stay the same but the income threshold for repayment may be different depending on which country you are residing in. For example, you pay 9% of everything you earn over £15,000 in the UK but if you live in France you pay 9% of everything you earn over £18,000.
Overseas Thresholds0 -
I moved abroad, not sure I want to repay back that biased scots student loan company, so we pay taxes on all sorts of things, and !!!!!! do scots students get, a !!!!!!! grant, this is all part of the brown blair legacy and they were evil old !!!!!!s the pair of em.
I say make things even between scots and english and I'll consider paying back
Student Loans was originally set up under a Conservative government led by Margaret Thatcher.
Student Loans was set up in Glasgow to help the local economy with jobs. The government generally set up new agencies in locations where there is high unemployment to try and reduce the figures.
If you have not informed SLC that you are overseas then you could be liable for any tracing fees plus 4 times the standard interest on any years you have been overseas.
Scottish Students receiving grants and having no tutition fees if they study at a scottish university was not a policy of the Student Loans Company but the Scottish Parliament.
The Student Loans Company can only act on the regulations and legislation defined by the devolved administrations of the United Kingdom.0 -
one last question Poolie, once you send the letter from the parents and SLC receives it, do they send a letter back to you confirming that everything is ok?
I just wanted to say thanks to Poolie for his big help and contribution to the post.:T:T:T0 -
You may receive an automated letter (I cannot remember). If you don't hear anything take it as good news.0
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