UK Student loan repayment
Aug 26th 2015, 2:10 pm
#16
Forum Regular
Joined: Jan 2014
Location: Melbourne (previously Liverpool, UK)
Posts: 78
Re: UK Student loan repayment
Thanks for the information all!
Settle down. I signed for the loan when I was 17 y/o - It wasn't something I put much thought into at the time. For me it was just part and parcel of leaving school and moving onto university. I had just assumed that the loan was only deducted/payable from UK PAYE. Off the cuff, over the years I'd encountered other expats, who cited the millstone of the student loan debt as a major reason they elected to work abroad. I obviously put 2 and 2 together and made 5!
Settle down. I signed for the loan when I was 17 y/o - It wasn't something I put much thought into at the time. For me it was just part and parcel of leaving school and moving onto university. I had just assumed that the loan was only deducted/payable from UK PAYE. Off the cuff, over the years I'd encountered other expats, who cited the millstone of the student loan debt as a major reason they elected to work abroad. I obviously put 2 and 2 together and made 5!
When I was finishing my study, and very excitedly looking forward to a new life abroad, I hope you can excuse me for forgetting about the student loan company!! After: handing in my thesis, booking flights, fare-welling friends/family, packing up my life, etc.. it was very far down my list of priorities - so much so that it didn't even register!
I've somehow managed to remember to pay down every last scrap of my debts of all types (I finish my student loans off for good at the start of October) before moving to Australia without encountering such a (convenient? ) bout of amnesia myself. Personally, I would like to retain the option to work in the UK in the future, so non-payment isn't really an option for me. As others have mentioned, there is also a moral obligation. However, I do agree with a point above, that it's currently a very unfair system. Thus if it was a debt I could avoid paying, it would sit better with me if I could sort out a program whereby I made equivalent payments towards a charitable organisation, who support children from under-privileged backgrounds that are looking to enroll in higher education.
That said, this last bit in bold's a bit much, isn't it???!? "I would of course be only too happy if I could make charitable donations instead of repaying my loans as I feel that it would be better that way, and please excuse me whilst I polish my halo"
As I say, I'm someone who is about to finally repay his UK student loans in full (first taken out in 1995, for crying out loud!!) before moving to Australia permanently in October. I'll be blunt and say that I'm not feeling much sympathy here. Either you completely forgot to pay, or you're kidding us on a bit and made a choice that you thought you'd get away with it (and I sit in moral judgement of neither course of action - if you want to gamble on not paying and not getting caught, that's your lookout). However, the chickens have now very much come home to roost, and SLC have found you in your Antipodean bolt-hole. Instead of weeping salt tears of disappointment over the charitable donations you cannot make (I'm still laughing really hard at that last bit of your post
), get your chequebook out and start paying off the debts you have legally incurred in exchange for the education you've received. And let's be frank, if you've accrued a doctorate as a result of your studies and are now working in your field of choice, then you'll struggle to convince people that these loans were not a worthwhile investment in yourself.Ultimately, people scarpering overseas and not paying the debts they've accrued (particularly for student loans) just makes the burden fall heavier on those left behind, so do the right thing, and pay what you owe.
Thanks for listening and good luck, whatever you do next!
Aug 26th 2015, 2:47 pm
#17
BE Enthusiast
Joined: Jul 2013
Location: Christchurch
Posts: 570
Re: UK Student loan repayment
Pay it back. I was honest and have been paying mine back since I moved abroad. They're the most obnoxious, irritating, unfair company I have EVER dealt with and I HATE them. But I owe the money so I pay it.
Aug 26th 2015, 3:23 pm
#18
BE Enthusiast
Joined: Apr 2005
Posts: 448
Re: UK Student loan repayment
The cynic in me would point out that this was perhaps something you should have checked out rather more thoroughly!
"I forgot to pay, that's all!" I've somehow managed to remember to pay down every last scrap of my debts of all types (I finish my student loans off for good at the start of October) before moving to Australia without encountering such a (convenient? ) bout of amnesia myself.
I in no way endorse the current system of student loans/tuition fees, as I believe that education should be a right, not a privilege. Alas, the UK government does not (regardless of political stripe) seem to share my view. Acknowledging that it is unfair is not absolution from paying, as you've rightly pointed out.
That said, this last bit in bold's a bit much, isn't it???!? "I would of course be only too happy if I could make charitable donations instead of repaying my loans as I feel that it would be better that way, and please excuse me whilst I polish my halo"
As I say, I'm someone who is about to finally repay his UK student loans in full (first taken out in 1995, for crying out loud!!) before moving to Australia permanently in October. I'll be blunt and say that I'm not feeling much sympathy here. Either you completely forgot to pay, or you're kidding us on a bit and made a choice that you thought you'd get away with it (and I sit in moral judgement of neither course of action - if you want to gamble on not paying and not getting caught, that's your lookout). However, the chickens have now very much come home to roost, and SLC have found you in your Antipodean bolt-hole. Instead of weeping salt tears of disappointment over the charitable donations you cannot make (I'm still laughing really hard at that last bit of your post), get your chequebook out and start paying off the debts you have legally incurred in exchange for the education you've received. And let's be frank, if you've accrued a doctorate as a result of your studies and are now working in your field of choice, then you'll struggle to convince people that these loans were not a worthwhile investment in yourself.
Ultimately, people scarpering overseas and not paying the debts they've accrued (particularly for student loans) just makes the burden fall heavier on those left behind, so do the right thing, and pay what you owe.
Thanks for listening and good luck, whatever you do next!
"I forgot to pay, that's all!"
I've somehow managed to remember to pay down every last scrap of my debts of all types (I finish my student loans off for good at the start of October) before moving to Australia without encountering such a (convenient? ) bout of amnesia myself. I in no way endorse the current system of student loans/tuition fees, as I believe that education should be a right, not a privilege. Alas, the UK government does not (regardless of political stripe) seem to share my view. Acknowledging that it is unfair is not absolution from paying, as you've rightly pointed out.
That said, this last bit in bold's a bit much, isn't it???!? "I would of course be only too happy if I could make charitable donations instead of repaying my loans as I feel that it would be better that way, and please excuse me whilst I polish my halo"
As I say, I'm someone who is about to finally repay his UK student loans in full (first taken out in 1995, for crying out loud!!) before moving to Australia permanently in October. I'll be blunt and say that I'm not feeling much sympathy here. Either you completely forgot to pay, or you're kidding us on a bit and made a choice that you thought you'd get away with it (and I sit in moral judgement of neither course of action - if you want to gamble on not paying and not getting caught, that's your lookout). However, the chickens have now very much come home to roost, and SLC have found you in your Antipodean bolt-hole. Instead of weeping salt tears of disappointment over the charitable donations you cannot make (I'm still laughing really hard at that last bit of your post
), get your chequebook out and start paying off the debts you have legally incurred in exchange for the education you've received. And let's be frank, if you've accrued a doctorate as a result of your studies and are now working in your field of choice, then you'll struggle to convince people that these loans were not a worthwhile investment in yourself.Ultimately, people scarpering overseas and not paying the debts they've accrued (particularly for student loans) just makes the burden fall heavier on those left behind, so do the right thing, and pay what you owe.
Thanks for listening and good luck, whatever you do next!
Aug 27th 2015, 5:25 am
#19
Addicted to browsing BE
Joined: Oct 2005
Location: Brisbane, QLD
Posts: 2,046
Re: UK Student loan repayment
Paid mine off a couple of years ago (first loan was 1997) - just transferred enough cash back each year to cover the monthly payment (using Tranzfers). Simple, painless and paid for an education that has repaid itself many times over.
Get in contact, update your details and start paying - it'll be gone before you know it.
Good luck.
Get in contact, update your details and start paying - it'll be gone before you know it.
Good luck.
Aug 27th 2015, 12:08 pm
#20
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: UK Student loan repayment
I in no way endorse the current system of student loans/tuition fees, as I believe that education should be a right, not a privilege. Alas, the UK government does not (regardless of political stripe) seem to share my view. Acknowledging that it is unfair is not absolution from paying, as you've rightly pointed out.
So school education is a right, everything else is not
Aug 27th 2015, 1:29 pm
#21
Forum Regular
Joined: Jan 2014
Location: Melbourne (previously Liverpool, UK)
Posts: 78
Re: UK Student loan repayment
Yes for 12 years of school education but no for university. The taxpayer should not fund university study - that should be up to the individual to pay for. If university is free, then all tertiary education should be too - which is economically unfeasible
So school education is a right, everything else is not
So school education is a right, everything else is not
) entered into a loan agreement which he should now repay, rather than looking for possible legal loopholes to exploit or weeping for the charity that is missing out on his generous donation that he'd prefer to make in lieu of his repayments (a day later, I'm still roaring with laughter at this ).
Aug 27th 2015, 1:38 pm
#22
Concierge
Joined: Jan 2013
Location: Western Australia
Posts: 21,138
Re: UK Student loan repayment
I disagree, actually, but that really is a different debate. The main thing here is that - irrespective of what either you or I may feel about the funding of university study - our man SOTR (I was wondering, is that an acronym for Student On The Run? ) entered into a loan agreement which he should now repay, rather than looking for possible legal loopholes to exploit or weeping for the charity that is missing out on his generous donation that he'd prefer to make in lieu of his repayments (a day later, I'm still roaring with laughter at this ).
) entered into a loan agreement which he should now repay, rather than looking for possible legal loopholes to exploit or weeping for the charity that is missing out on his generous donation that he'd prefer to make in lieu of his repayments (a day later, I'm still roaring with laughter at this ).Not much point in continuing to ridicule the OP, he asked a question, was given an answer and people's opinions - not much point in you continuing to put the boot in.
Aug 27th 2015, 1:43 pm
#23
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: UK Student loan repayment
A gentleman pays his mess bills.
Aug 27th 2015, 2:00 pm
#24
Forum Regular
Joined: Jan 2014
Location: Melbourne (previously Liverpool, UK)
Posts: 78
Re: UK Student loan repayment
Being from Perth myself, I'm assuming that SOTR means South of the River - it's how we Perthies divide the city.
Not much point in continuing to ridicule the OP, he asked a question, was given an answer and people's opinions - not much point in you continuing to put the boot in.
Not much point in continuing to ridicule the OP, he asked a question, was given an answer and people's opinions - not much point in you continuing to put the boot in.
