- Student loans and movings abroad.
One of my friends told me that they were going to live abroad for two years after finishing uni for the experience (and they have dual nationality), but it had the added bonus that being out of the country for that long would wipe out thier student loan. Surely that isn't correct is it?Posted 8 years agoJCornfordSubscriber
They are already at uni and will be spending the loan to see them through it, not sticking it into an account and saving it as a deposit etc, it was an off the cuff comment that they wanted to come home for a couple of years after uni and their loan repayments would get wiped at the same time, so an added bonus.Posted 8 years agodefaultslipperMember
i think it used to be a get out clause for the old student loans, but i had a look and it appears not to be possible anymore.Posted 8 years ago
just make sure your friend tells them when he leaves the country as there is definitely a fine for leaving the country without telling them first.mieszkoMember
I heard that they can recalculate the loan repayment for different earnings and You would still have to pay it off if You earn over certain amount abroad (but it's only something I heard from a friend so not 100% sure). Manager at my work had a student loan and is paying it off now, after 3 years You end up with something like 13-15k debt? He pays 20 quid off his wage a month 🙂 At that rate his kids will have to make their kids pay off their grandad loan 😉
and also +1 for what Tails said.
I'm working nights during weekends so that I can afford studying and not taking out the loan, no weekend partying for me but at the end of the degree I won't have a nice big debt to pay off.Posted 8 years agobigrichMember
you can defer, but not cancel the debt. you'll need to provide evidence of support anyway.
or you can be a bastard and hide, but then you cant come back.
or get a letter saying you earn 8k a year, then you don't have to pay back.
but cancel debt? you'll be lucky. they're wise to that one.Posted 8 years ago
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