Overseas Student Loan Assessment Form
Jul 16th 2009, 7:05 pm
#1
Banned
Thread Starter
Joined: Oct 2006
Posts: 27
Overseas Student Loan Assessment Form
Hi,
My fella, has a post 1998 student loan, about 12k sterling, i will be supporting the both of us until we get on our feet.
Has anyone any experiences of this process detailed below? Just seems a bit formal.
Thanks.
http://www.studentloanrepayment.co.u..._schema=PORTAL
Income Based Repayments
Overseas Income Assessment
If you have Income Contingent Loans (loans taken out from 1998) and will be overseas for more than 3 months, completing an Overseas Income Assessment Form will enable us to calculate how much you need to repay.
On the Overseas Income Assessment Form you should provide us with details of your circumstances and prospective income. You will also be required to provide evidence of your income or means of support.
We will then send you a repayment schedule showing how much you need to pay each month. Your monthly payments will be based upon the earnings threshold for your destination country.
If you have not yet completed an Overseas Income Assessment Form you can download a copy by clicking the link below:
http://www.studentloanrepayment.co.u...%20VERSION.PDF
http://www.studentloanrepayment.co.u...20GUIDANCE.PDF
http://www.studentloanrepayment.co.u...5_V0.9_WEB.PDF
My fella, has a post 1998 student loan, about 12k sterling, i will be supporting the both of us until we get on our feet.
Has anyone any experiences of this process detailed below? Just seems a bit formal.
Thanks.
http://www.studentloanrepayment.co.u..._schema=PORTAL
Income Based Repayments
Overseas Income Assessment
If you have Income Contingent Loans (loans taken out from 1998) and will be overseas for more than 3 months, completing an Overseas Income Assessment Form will enable us to calculate how much you need to repay.
On the Overseas Income Assessment Form you should provide us with details of your circumstances and prospective income. You will also be required to provide evidence of your income or means of support.
We will then send you a repayment schedule showing how much you need to pay each month. Your monthly payments will be based upon the earnings threshold for your destination country.
If you have not yet completed an Overseas Income Assessment Form you can download a copy by clicking the link below:
http://www.studentloanrepayment.co.u...%20VERSION.PDF
http://www.studentloanrepayment.co.u...20GUIDANCE.PDF
http://www.studentloanrepayment.co.u...5_V0.9_WEB.PDF
Last edited by Timy; Jul 16th 2009 at 7:07 pm.
Jul 16th 2009, 10:08 pm
#2
The Brains
Joined: Oct 2005
Location: Dubai / Hervey Bay
Posts: 886
Re: Overseas Student Loan Assessment Form
[QUOTE=Timy;7758946]Hi,
My fella, has a post 1998 student loan, about 12k sterling, i will be supporting the both of us until we get on our feet.
Has anyone any experiences of this process detailed below? Just seems a bit formal.
Thanks.
Our daughter has a Sudent Loan pre 1998 and lives overseas. Every year she has to send proof of her salary (letter of verification from her employer) to the loans people. She hasn't had to pay anything yet as basic salary is so low!
The process is formal. If you think of how much money must be owed. Your OH owes 12K if every student owes that amount then it adds up to billions in outstanding loans. Any other financial institution would have sent the Bailiffs or the loan recovery people in long ago.
My fella, has a post 1998 student loan, about 12k sterling, i will be supporting the both of us until we get on our feet.
Has anyone any experiences of this process detailed below? Just seems a bit formal.
Thanks.
Our daughter has a Sudent Loan pre 1998 and lives overseas. Every year she has to send proof of her salary (letter of verification from her employer) to the loans people. She hasn't had to pay anything yet as basic salary is so low!
The process is formal. If you think of how much money must be owed. Your OH owes 12K if every student owes that amount then it adds up to billions in outstanding loans. Any other financial institution would have sent the Bailiffs or the loan recovery people in long ago.
Jul 17th 2009, 3:09 am
#3
Banned
Thread Starter
Joined: Oct 2006
Posts: 27
Re: Overseas Student Loan Assessment Form
Thanks,
Just wondering, how will it work for him, no income for say six months, i will support him, he has some savings, but not massive amounts. Then when he does work, it will be minimum wage in Australia, is that around $14 per hour?
$14 hour is what $27k per year, 37 hours per week, the UK threshold for Oz is £12k, wow, he may have to make some payments at the current exchange
rate, then if the exchange rate moves, hopefully its in the favour?
Just wondering, how will it work for him, no income for say six months, i will support him, he has some savings, but not massive amounts. Then when he does work, it will be minimum wage in Australia, is that around $14 per hour?
$14 hour is what $27k per year, 37 hours per week, the UK threshold for Oz is £12k, wow, he may have to make some payments at the current exchange
rate, then if the exchange rate moves, hopefully its in the favour?
Jul 17th 2009, 7:23 am
#4
The Brains
Joined: Oct 2005
Location: Dubai / Hervey Bay
Posts: 886
Re: Overseas Student Loan Assessment Form
Thanks,
Just wondering, how will it work for him, no income for say six months, i will support him, he has some savings, but not massive amounts. Then when he does work, it will be minimum wage in Australia, is that around $14 per hour?
$14 hour is what $27k per year, 37 hours per week, the UK threshold for Oz is £12k, wow, he may have to make some payments at the current exchange
rate, then if the exchange rate moves, hopefully its in the favour?
Just wondering, how will it work for him, no income for say six months, i will support him, he has some savings, but not massive amounts. Then when he does work, it will be minimum wage in Australia, is that around $14 per hour?
$14 hour is what $27k per year, 37 hours per week, the UK threshold for Oz is £12k, wow, he may have to make some payments at the current exchange
rate, then if the exchange rate moves, hopefully its in the favour?
Why not give them a call and see what they say. Alternatively put all the facts down in a letter.
Your other half may get a job whereby his salary is low but made up with allowances, which of course can always be removed as is the case with our daughter, therefore the allowances are not taken into consideration.
Good luck.
Jul 17th 2009, 10:44 am
#5
Banned
Thread Starter
Joined: Oct 2006
Posts: 27
Re: Overseas Student Loan Assessment Form
Thanks Ray,
I will call them over the next week, when i have had a chance to think things through. I suppose the real reason i did not know what to do is, if you are only leaving the UK for three months or less, then you do not need to do anything, as you are still counted as a UK tax resident for student loan purposes anyway. I cannot honestly say whether we will last three months, initially four weeks, then take it a month at a time.
I think call them, tell them we are going for a month at a time, if we decide to stay for three months or more, write the letter, fill out the form, give them a ring from Oz explaining the situation, sound about right?
I will call them over the next week, when i have had a chance to think things through. I suppose the real reason i did not know what to do is, if you are only leaving the UK for three months or less, then you do not need to do anything, as you are still counted as a UK tax resident for student loan purposes anyway. I cannot honestly say whether we will last three months, initially four weeks, then take it a month at a time.
I think call them, tell them we are going for a month at a time, if we decide to stay for three months or more, write the letter, fill out the form, give them a ring from Oz explaining the situation, sound about right?
Jul 18th 2009, 10:41 pm
#6
The Brains
Joined: Oct 2005
Location: Dubai / Hervey Bay
Posts: 886
Re: Overseas Student Loan Assessment Form
Thanks Ray,
I will call them over the next week, when i have had a chance to think things through. I suppose the real reason i did not know what to do is, if you are only leaving the UK for three months or less, then you do not need to do anything, as you are still counted as a UK tax resident for student loan purposes anyway. I cannot honestly say whether we will last three months, initially four weeks, then take it a month at a time.
I think call them, tell them we are going for a month at a time, if we decide to stay for three months or more, write the letter, fill out the form, give them a ring from Oz explaining the situation, sound about right?
I will call them over the next week, when i have had a chance to think things through. I suppose the real reason i did not know what to do is, if you are only leaving the UK for three months or less, then you do not need to do anything, as you are still counted as a UK tax resident for student loan purposes anyway. I cannot honestly say whether we will last three months, initially four weeks, then take it a month at a time.
I think call them, tell them we are going for a month at a time, if we decide to stay for three months or more, write the letter, fill out the form, give them a ring from Oz explaining the situation, sound about right?
