Job Discussion Forums

shyarra · Joined: 28 May 2006 Posts: 22 Location: Taichung, Taiwan

I'm a year shy of graduating with a degree in Community Studies, after which I plan on getting my TEFL/TOEFL/TESOL certification through Oxford Seminars. My big problem is that, while I really want to make a career out of teaching English, I have $20,000 worth of loans to repay, not to mention the fact that I really need to repay my parents for their help in getting me through college, considering they used their retirement to do so. This puts me in the awkward situation of having to handle Direct Loans from overseas, when I really know nothing about banking overseas, or Direct Loan's policies on it.

If anyone has ever paid off loans overseas, or has horror stories about how they tried, either would be greatly appreciated. Actually, any help at all would be greatly appreciated. My biggest flaw is my inability to understand the workings of finance.

lamarin · Joined: 16 May 2006 Posts: 4

I just starting paying off my Direct Loans in March, and you can set up an online direct withdrawl program, that automatically takes out the amount you choose each month. You can also sign up for online payments, that isn't automatic but that you make each month that's basically like writing a check online. Just go to the web site and look around and you'll find the links. I'm going to try and keep making mine when I move to Mexico to start work in a month--I've been told my salary and the cost of living should be ok to have enough left for the loans. I'll try for a while at least. good luck.

tedkarma · Posted: Thu Jun 01, 2006 2:10 am Post subject:

My wife paid off her student loans while we were oveseas - no any different than any other loan payment or banking issue.

That US$20,000 will take about 18 months in Korea - no problem.

natsume · Joined: 24 Apr 2006 Posts: 409 Location: Chongqing, China

With online banking, I make my student loan payments directly through the bank's website each month. It could not be easier. I plan to work overseas next year, and will maintain my current bank account in the States, converting and depositing at least enough in my U.S. account to keep up with my loans. (Hopefully much more then that.) PM me if you wish. (I also went to UCSC!)