Student loan repayments
 

Hi all.

I am wondering if anyone here has experience paying back their student loan whilst living in NZ.

I did the sensible thing and notified the company just before I left the UK that I was now unemployed and moving to NZ to find work. They told me if I was unemployed I don't need to make repayments but that once I have a job I must notify them. I've been working for 4 weeks now and notified them, they asked me to complete the overseas online assessment form (which I did) but then sent me a letter saying they hadn't received it and I must pay the standard £250 a month. I've contacted them and resent my details (apparently the info I previously provided wasn't good enough). I am still waiting to hear back from them regarding how much I need to repay a month and its worrying me quite a lot as I'm wondering how much I'm going to have to pay.

In the UK, I earned £28k and paid back roughly £70 per month.
In NZ I now earn $45k, does anybody know approximately how much my monthly repayment might possibly be?

Thank you.

Re: Student loan repayments
 

Prepare yourself for a bumpy ride.
My son ended up running a two year legal battle with SLC which ended with him winning but only after his mp raised his case in parliament, took them to the court of appeal and set a new legal precedent.
They are arrogant bullies who try to do what they want and blame the other party for their mistakes.
​​​​​​My advice, record every single communication you have with them including phone calls.
good luck

Re: Student loan repayments
 

Yes, they certainly don't seem the brightest bunch. I have rang them numerous times telling them I live in New Zealand but they Continue to try and communicate with me by sending letters to my parents!

Do you mind elaborating in your son's experience? Sounds interesting!

Re: Student loan repayments
 

I can't comment on the specifics that you asked about; however, what I would suggest is to keep a very clear paper trail. The Student's Loan company is pretty awful to deal with - a government owned body with some of the student debt sold off to private companies and yet it is still completely unregulated by any financial body, which means that it gets away with so much bad behaviour. My partner was given his final bill, which he rang up and paid. A year later he received another bill as apparently the last bill wasn't correct (which is very difficult to check as it is all worked out by them) and they made him also pay the interest accrued through their error. Any complaints are handled by their own department, which is notoriously slow and ultimately an excercise in futility.

I'm glad some people are taking the company to court the more legal evidence the better and hopefully one day the company will be regulated by an external body - but with the government the way it is currently that won't be any time soon.