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Davew125
Joined: 11 Mar 2007
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 Posted: Mon Jun 09, 2008 5:34 am Post subject: UK student loan repayments |
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there was a thread here a few weeks back about student loan repayments from Korea. According to the SLC website you need to make repayments if you're in Korea and earning over (equivalent) �9000. However I sent off an overseas assessment form and it turns out that if 2.2mil won is not enough to be eligible to make payments....what a result, eh?
just thought id pass on my good news  |
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maddog
Joined: 08 Dec 2005
Location: Daegu
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| Posted: Mon Jun 09, 2008 5:40 am Post subject: |
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| Fantastic, but I've been off the UK grid for quite a while now. I haven't received a letter from the SLC in over two years. |
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cheeseface
Joined: 13 Jan 2008
Location: Ssyangnyeon Shi
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| Posted: Mon Jun 09, 2008 5:43 am Post subject: Re: UK student loan repayments |
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| Davew125 wrote: |
there was a thread here a few weeks back about student loan repayments from Korea. According to the SLC website you need to make repayments if you're in Korea and earning over (equivalent) �9000. However I sent off an overseas assessment form and it turns out that if 2.2mil won is not enough to be eligible to make payments....what a result, eh?
just thought id pass on my good news |
I might pull my finger out and give this a go then........
Cheers for the heads up |
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cheeseface
Joined: 13 Jan 2008
Location: Ssyangnyeon Shi
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| Posted: Mon Jun 09, 2008 5:44 am Post subject: |
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| maddog wrote: |
| Fantastic, but I've been off the UK grid for quite a while now. I haven't received a letter from the SLC in over two years. |
Do they know where to send the letters?  |
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valkerie
Joined: 02 Mar 2007
Location: Busan
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| Posted: Mon Jun 09, 2008 5:56 am Post subject: |
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Yeah, I have been in Asia 8 years and not had to pay a penny back yet.
It's depressing in some ways as the exchange rate means I earn a lot less now than I did in 2000, but sometimes it seems like a lucky break. |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Mon Jun 09, 2008 1:27 pm Post subject: Re: UK student loan repayments |
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| Davew125 wrote: |
there was a thread here a few weeks back about student loan repayments from Korea. According to the SLC website you need to make repayments if you're in Korea and earning over (equivalent) �9000. However I sent off an overseas assessment form and it turns out that if 2.2mil won is not enough to be eligible to make payments....what a result, eh?
just thought id pass on my good news |
When did you take your loan out?
Before 1998 or after 1998? |
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Davew125
Joined: 11 Mar 2007
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| Posted: Mon Jun 09, 2008 3:00 pm Post subject: |
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after 1998, i think it was 2000 i started. My sister did hers in 96 and doesnt have t pay back a penny!!  |
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bejarano-korea
Joined: 13 Dec 2006
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| Posted: Mon Jun 09, 2008 3:07 pm Post subject: |
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You have to look at this as a lifetime debt, don't bust your arse repaying the interest while you are out in Korea - it is something like 70 quid a month! People are complaining that after 3 or 4 years paying off the loan they have only managed to repay 2 grand - Well I'll tell you summat for nowt - my name aint Toby - last name Mug!
The debt is cancelled when you are 60 anyway. If and when I come back to blighty then they will take the minimum repayment out of my monthly paypacket anyway.
The daft sods want my address whilst out in Korea - and I gave them that address.
101/402 11 댜호햐서허훌ㄺㅅ
Thats right ya Student Loan MOFO - and don't call after 7pm either! |
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Gwangjuboy
Joined: 08 Jul 2003
Location: England
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| Posted: Mon Jun 09, 2008 3:29 pm Post subject: |
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| I left a contact address and when they called my buddy he told them I was in North Korea! |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Mon Jun 09, 2008 4:11 pm Post subject: |
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I have no reason to lie to them.
Gave them my correct details out here.
Sent back my papers with deferment and they were happy with that.
No repayment for me. |
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Dome Vans
Guest
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| Posted: Mon Jun 09, 2008 4:15 pm Post subject: |
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I've been paying mine for a couple of months now. It's about 5500 quid so am repaying 111 quid a month. I'm gonna have to pay it off at some point so no time like the present. By the end of next contract I want to be debt free. Please!
Really for that amount of money you should know what you did with it. Unfortunately, I'm still trying to piece it together. |
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kenbear
Joined: 14 Mar 2008
Location: SK
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| Posted: Mon Jun 09, 2008 4:19 pm Post subject: |
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i graduated last year and just before i left for Korea last August they called me. I explained i was due to go work in SK and they said not to worry just get in contact when your back in the country and working. They'll be waiting a long time then  |
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eamo
Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.
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| Posted: Mon Jun 09, 2008 5:21 pm Post subject: |
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I borrowed 5500 from 1996-1999. Haven't paid back a penny.
Might be a problem if I decide to move back to UK..................never!!! |
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Matman
Joined: 02 Jun 2006
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| Posted: Mon Jun 09, 2008 6:32 pm Post subject: |
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| eamo wrote: |
I borrowed 5500 from 1996-1999. Haven't paid back a penny.
Might be a problem if I decide to move back to UK..................never!!! |
The limitation period recently expired on the bank loan I received from a UK bank. As they didn't obtain a CCJ I'm now free of that loan (about �20,000!).
Unfortunately, the usual six year limitation rule doesn't apply to the Student Loans Company so you're stuck with it for life. |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Mon Jun 09, 2008 8:03 pm Post subject: |
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| Matman wrote: |
| eamo wrote: |
I borrowed 5500 from 1996-1999. Haven't paid back a penny.
Might be a problem if I decide to move back to UK..................never!!! |
The limitation period recently expired on the bank loan I received from a UK bank. As they didn't obtain a CCJ I'm now free of that loan (about �20,000!).
Unfortunately, the usual six year limitation rule doesn't apply to the Student Loans Company so you're stuck with it for life. |
Did you make some effot to pay that back though? If you make no effort you can be done for fraud - or so that is my understanding. |
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