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What would happen to my student loan if I moved country in the future? Would I have…?

… to pay it fully before moving?

Just wondering about the £9000 a year loan, as we have to pay it back once earning £21,000 a year. What happens to this tax if someone moves country?

I don't know where I'll live but just wondering for anyone really, out of interest.

Edit: Sorry if this is in the wrong section, I wasn't sure where to put it. :/
(edited 9 years ago)
Reply 1
Avatar for Klix88
Klix88
17
You don't have to pay any of it before emigrating, if you don't earn above the threshold.

There's a major issue with Student Finance losing track of students who leave the UK. The system assumes that you'll be upfront and keep SF informed about where you're living in the world and what you're earning, so that they can arrange any appropriate repayments. However if you don't do this and you don't leave any trace of yourself in the UK (bank accounts, ongoing tax records etc), they'll have a lot of trouble tracing you.
Read your T & Cs.
The £21K threshold is for the UK only.
On the SLC site there is a list of countries and the repayment threshold for each. Some are higher but others are lower.
If you go abroad and do not inform SLC and set up a repayment if necessary then 2 things happen.
You are charged a much higher rate of interest and your loan becomes repayable in full on your return to the UK.
Thanks for both replies!

Original post by balotelli12
Read your T & Cs.
The £21K threshold is for the UK only.
On the SLC site there is a list of countries and the repayment threshold for each. Some are higher but others are lower.
If you go abroad and do not inform SLC and set up a repayment if necessary then 2 things happen.
You are charged a much higher rate of interest and your loan becomes repayable in full on your return to the UK.


What if you don't return to the UK? Would you just pay it from abroad until it's all payed back?
Yes

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