Student Loan Repayments

[jingo 38]

Thanks for the long reply JoannaV

I know the repayments are income contingent, the reason I ask about deferring is because for now I'm living off savings (my fiance is a student, hardly making big bucks yet!) so by the time most (lucky) UK grads get a full-time job, they've been saving for a year. I won't have had that luxury due to not having an EAD. Thats why I thought about deferring, to give me some time after I start working to save up a bit.

So it'll be 15,000 GBP coverted to $$ ? Roughly 23k a year until I'd have to repay?

[Mike&Rach 0]

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867143&_dad=portal&_schema=PORTAL

explains the limit there

[Mike&Rach 0]

15,000.00 British Pounds = 23,196.00 U.S. Dollars.

[jingo 38]

Awesome thank you

[Kirsten UK 2]

There's another recent thread about this. If you tell them you are travelling abroad they will give you a year off. After that year you need to set up monthly repayments based on your income. Its actually incredibly simple to set up and nothing to worry about. Just call them.

[visacat 1]

I sent a letter and advised the Student Loans Company that I was moving to the USA and informed them of my US address. They then sent out a letter with an Overseas Income Assessment Form to me in the US. At the time I wasnt working so I filled in the form and returned it with a letter from my husband confirming that he was supporting me financially. They seemed happy and sent me a letter back confirming they would assess payments 12 months later. That was 12 months ago and last week I received another Overseas Income Assessment form so I completed this and returned it with my current pay slip but I still dont earn enough to be making any repayments. So I will go through this cycle until they confirm that I am earning over the threshold and I can then make monthly payments online through their website.

This is the link to their website explaining everything further

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867189&_dad=portal&_schema=PORTAL

Edited October 12, 2011 by visacat

[visacat 1]

Also ensure that you send back the Overseas Income Assessment form on time otherwise the default monthly payment is 249 GBP per month ($380 a month is a lot of money even when your earning a decent wage)

Edited October 12, 2011 by visacat

[jingo 38]

I plan on sending it to them this week, since I only just got my mailing address here. I am not due to start repayments until April '12 anyway so I think that should be enough time. I'll ask my husband to type up a letter then, thanks for the advice

[Jewel-8 21]

We had the same experience as visacat except we continue to have the UK mail sent to my in-laws' address. Very easy to have your spouse sign off that they are supporting you during the EAD stage. Good luck!