Paying Student Loans while working overseas - experiences

[v15ben]

I'm going to work overseas starting in September and my To Do list has come to the section marked 'Student Loan.'

I understand you fill in a form to inform the Student Loans Company you are going overseas and your expected monthly earnings and that you then pay you dues based on a slightly different threshold to the £15k in the UK. You pay your regular monthly amount back to then and unless you're back for more than 3 months then you count as an overseas payer until you say otherwise.

Sounds easy enough, but knowing Student Loans I doubt things are so easy. My question is how have others found paying back a student loan whilst working abroad? Is it the usual chaos that you find when paying in the UK and how do they chase you for missing payments/paying incorrectly if this happens?

[koolchris99]

er my brother lives in thailand now, hasnt paid a penny yet for 3/4 years.

i expect he will have to at some point.

[bob1179]

I've worked abroad more or less constantly since graduating five years ago and haven't paid a penny back.

However, I do owe a vast amount (plus all the interest they have been piling on) due to being at uni for seven years.

I have been saving up and will be paying back what I owe in full in a couple of months time. I want to pay it back as I borrowed it in the first place.

It is my last big bill, once it is paid off I will be debt free for the first time since I was 18. I really, really can't wait to get rid of my mortgage sized student load bill!

[Soovy]

koolchris99 said:

er my brother lives in thailand now, hasnt paid a penny yet for 3/4 years.

i expect he will have to at some point.

How about he pays what he's supposed to as opposed to stealing from the rest of us.

[v15ben]

bob1179 said:

I've worked abroad more or less constantly since graduating five years ago and haven't paid a penny back.

Were you ever asked to fill in the required forms to let them know you were working overseas? Just interested as many people I've spoken to who have done the same job as me seem to have neglected to think about paying their student loan.

I want to pay back what I owe, just not sure whether to do it in monthly instalments over the threshold as you would in the UK or just throw a pile of money at it when I get home.

[koolchris99]

Soovy said:

koolchris99 said:

er my brother lives in thailand now, hasnt paid a penny yet for 3/4 years.

i expect he will have to at some point.

How about he pays what he's supposed to as opposed to stealing from the rest of us.

Im sure he will, he just wasnt asked to at the time and hasnt been back since.

its not stealing from you, he will have to pay the interest etc. Hes putting money aside for it in thailand and will be paying it off in full when he finally comes back.

[bob1179]

v15ben said:

bob1179 said:

I've worked abroad more or less constantly since graduating five years ago and haven't paid a penny back.

Were you ever asked to fill in the required forms to let them know you were working overseas? Just interested as many people I've spoken to who have done the same job as me seem to have neglected to think about paying their student loan.

I want to pay back what I owe, just not sure whether to do it in monthly instalments over the threshold as you would in the UK or just throw a pile of money at it when I get home.

I never filled in a thing.

I was on a pitiful salary when I first started working, it's only been the last two years when I've actually started earning money. My first goal was to pay off my overdrafts, credit cards etc. Now these are paid off, I started saving up to pay my student loan off. It's taken some time but I'm almost there.

I just want to get rid of the debt to be honest, then I can start afresh knowing that whatever I earn will be mine to save or spend as I see fit.

[v15ben]

Sounds like a fair idea to me. My salary won't be spectacular but it is above the UK threshold and considering South Korea only has a £9k threshold according to the SLC website, I assume they'd be asking for my wonga immediately (that being if they knew what they were doing of course )

I guess they've never contacted you to find out why you haven't paid then? I might just go down the route of saving then putting back into the fund when I get home. Seems easier.

Edited by v15ben on Wednesday 2nd June 11:53

[bob1179]

v15ben said:

Sounds like a fair idea to me. My salary won't be spectacular but it is above the UK threshold and considering South Korea only has a £9k threshold according to the SLC website, I assume they'd be asking for my wonga immediately (that being if they knew what they were doing of course )

I guess they've never contacted you to find out why you haven't paid then? I might just go down the route of saving then putting back into the fund when I get home. Seems easier.

Edited by v15ben on Wednesday 2nd June 11:53

South Korea eh?

You'll like it there, lot's of very pretty girls!

The only contact I've had from the SLC is the annual statement that is sent to my parents house. The amount of interest is getting quite painful so I am looking to get it paid sooner rather than later!

[v15ben]

Unless they go to war which seems unlikely then it will be a blast. Cute girls are always nice!

It seems a few people sort out the paperwork and pay a monthly direct debit from Korea for the amount they owe, but most people seem to sort it out when they get back.

Might stick to option 2 as it just seems more straightforward

[Nolar Dog]

[ph response]fking Labour voting thieving mouth-breathing student scumbag[/ph response]

[vicky]You. Lucky. bd. Ben.[/vicky]

Have a great trip. Pay the money when you return.

[Ayahuasca]

Nolar Dog said:

Have a great trip. Pay the money when you return.

Carlsberg does not make Tax Inspectors...

[bob1179]

Nolar Dog][ph response]fking Labour voting thieving mouth-breathing student scumbag[/ph response said:

[vicky]You. Lucky. bd. Ben.[/vicky]

Have a great trip. Pay the money when you return.

I agree with Nolar, as Long as you pay it back it doesn't matter.

I just had a look at your profile OP, I see you are going to teach English, which company are you going with?

I almost ended up in Japan doing the same thing. I was accepted and almost went, however, I had a job offer in the job I really wanted to do so I bit the bullet and ended up in Kazakhstan!

[jerwatt]

I've just got to Norway, but am doing a summer project for part of my MSc. Since it's so expensive then I've had to cancel my accomodation in the UK. Not earning anything apart from scholarship which is barely going to keep me going here by the looks of things! I'll be on the highest amount for not paying any money back when I start working though, as Norway along with Denmark, Svalbard and Bouvet Island (where ever that is!) are all set at £21 000. Doesn't actually make a difference though as I'll be well over it. Was planning to inform them when I start work, to stop the interest accumulating!

[v15ben]

Nolar Dog said:

ph response - fking Labour voting thieving mouth-breathing student scumbag- /ph response

[vicky]You. Lucky. bd. Ben.[/vicky]

Have a great trip. Pay the money when you return.

Labour voting, you cheeky fk
I wouldn't have voted for that shower of fools again for another day, never mind 5 years

To answer the other questions I'm going through the EPIK programme, run by the education ministry. Unsure exactly which city I'll be in yet, but looking forward to it immensely. The specific recruiter I used is a company called ESL Planet.

Edited by v15ben on Wednesday 2nd June 21:46

[princeperch]

the student loan is getting to be a bit of a bind now. to get shot of it would be like getting a rather nice pay rise every month.