Student Loans
Oct 7th 2008 | 3:17 am
#1
Thread Starter
BE Enthusiast
Joined: Sep 2008
Posts: 341
From: SW Calgary, AB, Canada!
Student Loans
Sorry for the broad subject but i didnt know where else this would slot in!
my other half has just decided to move to Canada with me next year (yipee)
she has a student loan with about £4k outstanding. what happens to this if/when we move?
will it need paying back in one lump sum, get written off, or can she continue repaying at the monthly rate?
any help would be appreciated!
my other half has just decided to move to Canada with me next year (yipee)
she has a student loan with about £4k outstanding. what happens to this if/when we move?
will it need paying back in one lump sum, get written off, or can she continue repaying at the monthly rate?
any help would be appreciated!
Oct 7th 2008 | 5:10 am
#2
Forum Regular
Joined: Sep 2008
Posts: 223
From: Grande Prairie
Re: Student Loans
Hi Paul,
Try this website.
http://www.direct.gov.uk/en/Educatio...98/DG_10034872
Your partner needs to inform the Student Loans Company if she intends to live outside the UK for more than 3 months. She'll then need to fill out an Overseas Income Assessment Form. They will then decide how much she needs to pay back on each pay check!!
Hope that helps, good luck
Steph x
Try this website.
http://www.direct.gov.uk/en/Educatio...98/DG_10034872
Your partner needs to inform the Student Loans Company if she intends to live outside the UK for more than 3 months. She'll then need to fill out an Overseas Income Assessment Form. They will then decide how much she needs to pay back on each pay check!!
Hope that helps, good luck
Steph x
Oct 7th 2008 | 8:40 am
#3
Forum Regular
Joined: Aug 2007
Posts: 149
From: Ontario
Re: Student Loans
Sorry for the broad subject but i didnt know where else this would slot in!
my other half has just decided to move to Canada with me next year (yipee)
she has a student loan with about £4k outstanding. what happens to this if/when we move?
will it need paying back in one lump sum, get written off, or can she continue repaying at the monthly rate?
any help would be appreciated!
my other half has just decided to move to Canada with me next year (yipee)
she has a student loan with about £4k outstanding. what happens to this if/when we move?
will it need paying back in one lump sum, get written off, or can she continue repaying at the monthly rate?
any help would be appreciated!
Your other half can pay her student loan from overseas continuing the monthly repayments - I have posted a link here. I believe she will have to fill in the overseas income assessment form. Hope this helps.
http://www.slc.co.uk/thresholds/index.html
Oct 13th 2008 | 1:21 pm
#4
Thread Starter
BE Enthusiast
Joined: Sep 2008
Posts: 341
From: SW Calgary, AB, Canada!
Re: Student Loans
thank you very much for your replies!
i would never have found that!
i would never have found that!
Oct 13th 2008 | 3:05 pm
#5
BE Enthusiast
Joined: Jul 2002
Posts: 846
From: Toronto, Ontario
Re: Student Loans
Also I just got a letter from the Students Loan Company and they have a new payment portal that allows you to make payments on line either by UK Debit (switch electron etc.) or by Credit Card.
Not a big deal if you have a UK bank account and pay form there but if you are in Canada and have no UK bank account anymore the SLC will only accept payment in Sterling drawn from a UK Bank which means every month I have to go get a Sterling Money Order from the bank in Canada (the Sterling ones form my bank are drawn from Lloyds TSB) and mail it off to the SLC which is somewhat of a hassle. Luckily for me I get money orders free but usually there is a $6.00 charge. You can pay via EFT and transfer it directly into their bank account but that costs even more in fees and so is only viable if you are doing a one time large payment and don't want the risk of mailing a money order which unlike a cheque you have already paid for.
So with the new portal I can log on and may by Visa and save a bunch of hassle.
As mentioned above every year ot so they send a form and you declare your previous 12 months income and send a couple of pay stubs and they asses the amount you need to pay back the same way they do in the UK, i.e. there is an income cut off and anthing above that you pay back 9% a year kind of thing.
Not a big deal if you have a UK bank account and pay form there but if you are in Canada and have no UK bank account anymore the SLC will only accept payment in Sterling drawn from a UK Bank which means every month I have to go get a Sterling Money Order from the bank in Canada (the Sterling ones form my bank are drawn from Lloyds TSB) and mail it off to the SLC which is somewhat of a hassle. Luckily for me I get money orders free but usually there is a $6.00 charge. You can pay via EFT and transfer it directly into their bank account but that costs even more in fees and so is only viable if you are doing a one time large payment and don't want the risk of mailing a money order which unlike a cheque you have already paid for.
So with the new portal I can log on and may by Visa and save a bunch of hassle.
As mentioned above every year ot so they send a form and you declare your previous 12 months income and send a couple of pay stubs and they asses the amount you need to pay back the same way they do in the UK, i.e. there is an income cut off and anthing above that you pay back 9% a year kind of thing.
