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Student loan repayment overseas (fixed monthly repayment)

Discussion in 'Teaching abroad' started by jad518nexus, Dec 23, 2017.

  1. jad518nexus

    jad518nexus New commenter

    Hello. There is a similar question to this on the forum, however wanted to ask a more direct question.

    Can I contact the SLC and just say i want to pay the fixed monthly repayment (for the country i work in)?

    Contacting them from where i work is a pain, and i want to sort this out as fast an possible.
  2. rednelly84

    rednelly84 Occasional commenter

    I remember having 2 options when paying off my student loan.

    For the first 3 years I sent off their declaration form with a copy of my then current salary each February. My payment was then calculated based on this info. It varied from £68-£108 if I recall.

    I then got lazy and stopped sending the paperwork as it became a chore to ask my HR department for a salary certificate. I then paid the default amount of 2 hundred and something. It was finally paid off one summer when I returned to the UK with a lump sum.

    I didn't contact them at all when I got lazy and the amount was automatically deducted. So yes, it's possible to simply pay the default amount.
    Teachallover likes this.
  3. s_c_blower

    s_c_blower New commenter

    How did this turn out in the end? I have a similar issue. Did you end up having to just pay the fixed monthly repayment amount, or something else?
  4. ed717

    ed717 New commenter

    Apparently after 6 years out of the UK it is wiped anyway... hoping its true :D
  5. roamingteacher

    roamingteacher Established commenter Forum guide

    I'm pretty sure that is absolutely NOT true!
    Mr_Frosty likes this.
  6. rosaespanola

    rosaespanola New commenter

    I'm currently paying back just under £350 a month...it's a massive amount compared to what I was paying in the UK, but the salary threshold for where I am is way lower (£9k). I've never heard of the option of paying a default amount...can anyone tell me more about this, since contacting the SLC is on a similar level of difficulty as having a personal conversation with the tooth fairy? I started uni in 1998, if that helps. Maybe the set payment is just available for people on a different loan system to me?
  7. StrangePanda

    StrangePanda Occasional commenter

    There's lots of information on the SLC website- just search for 'overseas' and you should be able to find the thresholds. Some of them don't make much sense, in that they aren't really reflective of the cost of living in some places.
  8. StrangePanda

    StrangePanda Occasional commenter

    That would be excellent... but it's definitely not true!
  9. hs9981

    hs9981 Lead commenter

    I heard that if you 'transition' and change your name, the debt gets wiped.

    Maybe worth a shot, if the sum is large enough?

    If I were a UK student these days, graduating with 50 grand debt, I'd consider chopping off Mr Tinkle!
    ed717 likes this.
  10. dunnocks

    dunnocks Star commenter

    er no.

    where this comes from is that you are expected to pay it back much faster if you are overseas, not that it gets wiped out, but that it might be paid off after fewer years - 6 would be the fastest though
  11. Ms_Love_

    Ms_Love_ Occasional commenter

  12. rosaespanola

    rosaespanola New commenter

    I know what the threshold is for my country, and the SLC have already worked out my repayments. I was wanting to know more about this "default payment" that people have mentioned, that seems to be less than I'm currently paying.
  13. StrangePanda

    StrangePanda Occasional commenter

    I think that the default tends to kick in if they already know where you are, have sent you the yearly form to fill in, have your bank details and if you don't supply information relating to earnings for the next year.
  14. rosaespanola

    rosaespanola New commenter

    So if I don't respond next time they ask me for info on my earnings, it's likely to revert to the default £200 a month? I'll try it and see!
  15. amariB

    amariB New commenter

    Yes that’s what happened to me, rosaespanola! I am now paying far less as the default than i was when I submitted my salary details!
  16. Jason_Bourne_

    Jason_Bourne_ Established commenter

    Yep... Same thing happened to me.
    Mr_Frosty likes this.
  17. dumbbells66

    dumbbells66 Lead commenter

    Just to throw a curve ball into this thread. According to Martin Lewis of moneysavingexpert fame, its not debt, just tax you havent paid on the money yet. Now, the evil side of me would be screaming, "if im never returning to the UK, why should i bother" :p
    ed717, makhnovite and Mr_Frosty like this.
  18. LCass

    LCass New commenter

    I think the default amount is different for each country, so you may actually be even worse off. Mine is all paid off but my husband is still paying (first cohort of lucky people who got to pay GBP 9000 for their PGCE!) and we found that there either was not much of a difference or we had to pay a little bit more. Which was fine as it meant less hassle, but they just changed the rules and if you now do not send in your information, your interest rates are upped to about 6%. So now it's definitely worth doing the paperwork! I am not sure if this is different for the different 're-incarnations' of the SL.
  19. Mr_Frosty

    Mr_Frosty Established commenter

    That's what happened to me back then the default amount was £149 a month (IIRC) and the assessed payment I paid previously was over £300 a month so I didn't return the documents and let it switch to the default. All paid off now though and that was a great feeling.
  20. chloe_syron

    chloe_syron New commenter

    Did this work for you?

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