bigD21
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Registered: 22nd May 07
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At which point do you have to start paying off your student loan? Is it once you are employed in a occupation that pays £15k +
Also, how much truth is there in that if you move abroad you don't have to pay the loan back?
Just curious to be honest as have been looking at moving abroad in the near future and have just short of £10k to pay back.
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Colin
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Registered: 4th Apr 02
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You pay back any 10% of any earnings over £15k or something!!
If you go abroad they & you dont declare income to them they 'can' make you repay it all at once. As its against their terms & conditions!!
[Edited on 26-08-2008 by Colin]
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RCS
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Registered: 26th Jan 05
Location: Lichfield/Dundee
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My dad keeps on speaking of the girl at his work deffering hers when shes earning over the threshold? Can you do this?
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Colin
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Registered: 4th Apr 02
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Feck knows, iirc it just comes off automaticly if your paid via bacs monthly or whatever!
I'll start paying mine soon, apparently £11.25 a month, then following year £41.25, then after thatupwards of £260 month. Im going to be paying it off a while 
Ive actually still got the cash from my loans, almost £9k of it in the bank in a savings account, im unsure of the best course of action to take with it -> Pay it back having made some interest, invest it, pay off some of the mortgage....put it towards a new car 
Not sure what to do!!
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lil_g
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Registered: 29th Oct 06
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Keep it in the savings account Colin, unless you need it for mortgage/unexpected car repairs etc 
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Jules S
Premium Member
Registered: 24th Dec 03
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quote:
Originally posted by Colin
Feck knows, iirc it just comes off automaticly if your paid via bacs monthly or whatever!
I'll start paying mine soon, apparently £11.25 a month, then following year £41.25, then after thatupwards of £260 month. Im going to be paying it off a while
Ive actually still got the cash from my loans, almost £9k of it in the bank in a savings account, im unsure of the best course of action to take with it -> Pay it back having made some interest, invest it, pay off some of the mortgage....put it towards a new car
Not sure what to do!!
Difficult call that one....
However, I would 110% expect the govt (whatever brand) to work out that they are losing money on students hoarding student loan money.
Personally i would pay the thing off......if the gov haven't taken advantage of introducing early payment charges yet 
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ed
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Registered: 10th Sep 03
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Depends on when your loan was issued. I believe I can move abroad and not pay it back because mine was issued before 2006 when the system was revised.
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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I had the money to clear mine, but after looking into it, it is better to keep it in a savings account, as the interest rate on the loans could go down again and make paying it off actually cost you more money, and even now the interest rate is below savings account rates
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Gareth
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Registered: 2nd Mar 00
Location: Derby, Drives: EVO VIII MR & pug 308
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still paying mine off graduated 4 years ago. the more i earn the more they take not sure how much i still owe. when i change jobs it takes a while for them to catch up with me.
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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quote:
Originally posted by bigD21
Also, how much truth is there in that if you move abroad you don't have to pay the loan back?
None whatsoever.
If you're not planning on returning to the UK within a decade or so, just declare bankruptcy and fuck off abroad.
I did it by the book, and paid nothing but interest for the last year. Only way to really make a dent is to pay off lump sums (talking thousands) at a time.
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ed
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Registered: 10th Sep 03
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Damn it, there goes that idea.
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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Or, become a dole seeking badger anyway, stay below the minium wage for 10 years and it's written off.
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ed
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Registered: 10th Sep 03
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If I get the job I want (unlikely  ), I'll get €20k a year from my salary tax free for 5 years for loan repayments... But i'll have a £77k loan on top of the student loan that will need paying too
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Colin
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Registered: 4th Apr 02
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Hmmm possibilities of taking a job in the philippines & declaring myslef bankrupt in the UK seems ever more appealing
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Colin
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Registered: 4th Apr 02
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Im getting over 100k worth of training paid for by my employer, luckly I dont have to pay it back to them!!
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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quote:
Originally posted by ed
If I get the job I want (unlikely ), I'll get €20k a year from my salary tax free for 5 years for loan repayments... But i'll have a £77k loan on top of the student loan that will need paying too
£77k??? Fuck me ed, what did you buy??
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ed
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Registered: 10th Sep 03
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I haven't yet, but I intend on buying an ATPL. Which is a commercial pilots licence to be able to fly big jets
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ed
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Registered: 10th Sep 03
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quote:
Originally posted by Colin
Im getting over 100k worth of training paid for by my employer, luckly I dont have to pay it back to them!!
They used to pay for the training I want, until some darkies crashed a couple of planes into NYC 
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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quote:
Originally posted by ed
I haven't yet, but I intend on buying an ATPL. Which is a commercial pilots licence to be able to fly big jets
Flash git. 
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Theham85
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Registered: 29th Nov 06
Location: Brisbane Queensland
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quote:
Originally posted by ed
quote:
Originally posted by Colin
Im getting over 100k worth of training paid for by my employer, luckly I dont have to pay it back to them!!
They used to pay for the training I want, until some darkies crashed a couple of planes into NYC
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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ed
Tell it like it is.
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ed
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Registered: 10th Sep 03
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No point sugar dusting the fact that Al Qaeda are likely to have cost me nearly £80k.
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Colin
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Registered: 4th Apr 02
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Ask Ian for a bit of funding from the preemium member stash.......then once your an all singing all dancing pop star pilot you can charter a plane to PVS
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ed
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Registered: 10th Sep 03
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If they hadn't turned the runway into a drag strip that might have been possible
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dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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