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    Paying off student loans from Overseas?

    I have a degree from Winchester University and recently started paying back my loan. I now live the U.S. and my payment is high when you convert it into dollars. I do not plan to move back to the UK and want to know if there is any way of not paying the loan bank? Can I declare bankruptcy? I have debt in the U.S and will find it hard to make this payment of 175 GBP every month for 5.5 years. What should I do?

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    (Original post by mrpaulman)
    Paying off student loans from Overseas?

    I have a degree from Winchester University and recently started paying back my loan. I now live the U.S. and my payment is high when you convert it into dollars. I do not plan to move back to the UK and want to know if there is any way of not paying the loan bank? Can I declare bankruptcy? I have debt in the U.S and will find it hard to make this payment of 175 GBP every month for 5.5 years. What should I do?

    Thanks,
    :no: Living overseas isn't a valid reason to not pay off the loan. Your loan may be written off after 25 years, but otherwise you have to pay it in full: http://www.slc.co.uk/about%20student...off_terms.html
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    As above, living overseas does not exclude you from having to pay it back. If you are experiencing financial difficulties and feel that you are unable to meet the monthly payments, then the very first thing you should do is contact the student loans company and discuss this with them.

    You say your payment is high when you convert it into dollars - I take it you filled in the correct overseas form and had your overseas income assessed? There are different thresholds of repayment for when you are living abroad so there shouldn't really be any 'converting' going on...
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    A question, how did you get to the US from England? I start studying in England next year and my plan is to somehow find my way from england to the US when I am done with my studies..
 
 
 
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