emmal

Does anyone have any idea what i should do about my student loan before I leave for Australia????

I haven't been paying it off for the last year anyway as I don't earn enough but before I leave the country will I have to pay it all off?? Will they know I have left the country if I dont tell them???

Inglewhite

Hi ,
I have enquired about my student loan at the student loan company and you don't have to pay it back before you leave, unless you want to of course.However, you will have to give them a forwarding address and start paying it when you earn the equivalent money in dollars(is it £16,000 year , i think).although i don't know how they will know unless it is through oz tax system.????? Remember though you had to give two addresses for support when you signed up for the loan .

quercus

My daughter, who is in y2 at Lincoln, tells me she won't have to repay her loan if she stays overseas for a few years, I can't remember how many though.

I guess she signed a different contract. I hope she hasn't got it wrong, as she's planning to travel.

Inglewhite

that's true, she will only start paying it back once she's earning the equivalent money in the country she's in, she will have to inform them of her forwarding address.

LauraC

I think I've paid off £1 of mine! I didn't tell the Student Loans Company when I went to Aus travelling a few years back that I was out of the country and had completely forgot about it! I'll have to dig out the info before I go. Or I could just not tell them!

stenix

There are a few of these rumours at the moment about not having to pay the loan back if you stay out of the country (I've seen 5 and 7 years quoted). I've not seen any evidence to back this up as yet. Where did your daughter hear this?

quercus

I'll ask her how she heard this and find out how accurate it might be.

brissydeb

You should notify them that you have left the country as all correspondence from them will therefore be sent to your Oz address. If you do not earn what is classed as being the average national uk wage within 25 years it will be written off (dunno if this is correct but just what i have heard)

Debbie

freckles1970

I would be interested in finding out too.

I became a teacher 4 years ago and as part of my post grad course, the government started paying off my loan monthly...unfortunately I still have a couple of £k left