mojofilter

Received a letter from back home regarding my student loan. I informed them that I was moving to the USA 6 years ago and hadn't heard anything from them until now.

Anyway, needless to say they're not demanding huge wads of cash... I'm going to call them tomorrow but I was wondering if anyone has dealt with this issue and had any good info.

Ta......

Duncan Roberts

Yeah, they did that to me as well. Shortly they will tell you the default rate of £256 a month will be in effect unless you send an income verification form and you need to start paying. They are knobs.

mojofilter

Boo Hiss!!!!!

So I take it you send them the info they requested and they then revised the amount?

arran29

Yes. I did a 1 year teaching post grad in 2006-2007, So far haven't paid anything back as I was unemployed for several years and now don't earn enough to have to pay anything back, even though I am full time in a law office. I make sure they know my current address and annually complete the form with my income.

Duncan Roberts

Or if you earn a lot the default may work in your favor. They adjust it in March when they redo the exchange rate, I think they'll only lower it though, and then again every year after you return the form. You need evidence so a letter from your employer is usually a good idea as you can have them word it in the best possible way without lying. For instance, not including bonuses or overtime which a pay stub or W-2 would.

hungryhorace

If you've emigrated to the USA, I presume you could just ignore it. What are they going to do?

hoffage123

They may need to go back one day.

Or ... as the different bureaus and government systems start becoming increasingly enmeshed, the likelihood of a big bill landing on their US doorstep is likely.

The SLC are a very nasty bunch - if you don't play ball they can demand the entire amount in a lump sum, tacking on interest and late payment charges etc ... Whilst it may be relatively easy to avoid in the US ... if you decide to go back to the UK then you'll be in trouble as these loans are the one type of loan that don't erase themselves during a bankruptcy process. They don't go away.

Hoffage

Southy_SWFC

I've found honesty with them has worked out well for me. Each year they send me a letter asking if I earn enough to start paying it back yet. I tell them no, send them a pay slip, and they leave me alone for another year.

Weeze

Same for me. I think anyone graduating the year after me has had more problems as it's when the scheme changed. I have half with SLC and half with HSLC. One form for both and it's done for another year.

charman57

What is that amount?

I have the same issue now, received a letter yesterday stating the default payment amount if I don't complete the Assessment Form.

Duncan Roberts

The earnings threshold is about $25,000. The standard repayment is 9% of anything above that. Its based in £ and is a little over £16,000 for the US. US default repayment is £246 a month.

SanDiegogirl

..... don't expect you called them knobs when they gave you the loan

What is it about some loans/debts etc that some people think that not paying them back or stringing out the payback time for as long as then can, is just OK?

charman57

OK, I am over that threshold. So they will recalculate my required payments once I send them my Assessment Form?

hungryhorace

I guess some people feel that they pay enough tax to fund every other person in society that this is there way of getting some form of tax relief. I have sympathy for this viewpoint.

SanDiegogirl

Aaahhh, if only we could all have this attitude.

Paid my taxes so I'll just stop paying my health insurance and let the rest of society pick up the bill; stop paying my mortgage and sit tight for a few years rent free, while they sort out the documentation; move and not pay off my credit card bills; move country and not pay my student loans.

Maybe that's why we pay so many taxes ..... to many "takers" not enough "makers"