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Old 23.01.2015, 09:28
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UK student loans

Yet another thing I need to sort out now I've moved to Switzerland

How have you handled your student loan since you've moved here?

Looking at the website there's a page about repayments from overseas, for Switzerland the threshold is £23,675 and the exchange rate is set at 0.68 as it's averaged out over the previous calendar year making the threshold about 34,800chf according to their rate or at a current rate it would be around 30,900chf.

They also have a default payment value of £344, given the current exchange rate this would be a lot better for me but can they insist that they use the exchange rate they've listed on the site?



I'm trying to get hold of an e-mail address where I can contact them but right now it seems they only give out phone numbers .
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Old 23.01.2015, 09:49
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Re: UK student loans

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Yet another thing I need to sort out now I've moved to Switzerland

How have you handled your student loan since you've moved here?

Looking at the website there's a page about repayments from overseas, for Switzerland the threshold is £23,675 and the exchange rate is set at 0.68 as it's averaged out over the previous calendar year making the threshold about 34,800chf according to their rate or at a current rate it would be around 30,900chf.

They also have a default payment value of £344, given the current exchange rate this would be a lot better for me but can they insist that they use the exchange rate they've listed on the site?



I'm trying to get hold of an e-mail address where I can contact them but right now it seems they only give out phone numbers .
They assess you every August/September. So I guess they will re-set the rates then. I guess they can't change it every day.

I have to send in my pay slips every year, so they can decide what I do or don't owe! It's a bit of a pain!

…. The default payment is what they charge you if you don't provide them with your earnings details. You can't just opt to pay this if you owe more.

Last edited by Island Monkey; 23.01.2015 at 10:39.
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Old 23.01.2015, 11:31
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Re: UK student loans

I was wondering this also, I received a letter advising I had nothing to pay until next august as I was unemployed, I found work a few weeks later but nothing within the letter asked me to contact them if my circumstances changed.

So i'm scot free until August, or...
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Old 23.01.2015, 11:46
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Re: UK student loans

Doesn't the debt get written off after a few years?
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Old 23.01.2015, 11:50
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Re: UK student loans

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I was wondering this also, I received a letter advising I had nothing to pay until next august as I was unemployed, I found work a few weeks later but nothing within the letter asked me to contact them if my circumstances changed.

So i'm scot free until August, or...
Yep, they'll write to you around August time and ask for your earnings info again, then they'll reassess you.
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Old 23.01.2015, 11:52
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Re: UK student loans

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Doesn't the debt get written off after a few years?
After 25 or 30 years or when you reach 65 (depending on loan) http://www.slc.co.uk/services/loan-r...cellation.aspx
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Old 23.01.2015, 12:02
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Re: UK student loans

For me it would be:

[If you] "took out your first student loan in or after academic year 2006/07, then it will be cancelled 25 years after you became eligible to repay"

You become eligible the April after you graduate, so I should be off the hook in 2036 (age 48!)

Saying that, if they catch me next year I will have repaid it long before then...
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Old 23.01.2015, 12:56
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Re: UK student loans

Think mine will be cancelled in 2038! Hopefully I can either avoid paying anything until then, or become so rich I don't care about the re-payment

UK student loans are greatÖ in what other situation would you be completely un-bothered about having 20K of debt?
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Old 23.01.2015, 13:53
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Re: UK student loans

Cheap b*******s! Pay it back, it's worth nothing compared to what it provided you and if more people stop paying then new generations won't get anything.

SHAME ON YOU!

/rant

but seriously, pay it if you can or you might get in trouble if you ever go back
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Old 23.01.2015, 13:57
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Re: UK student loans

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For me it would be:

[If you] "took out your first student loan in or after academic year 2006/07, then it will be cancelled 25 years after you became eligible to repay"

You become eligible the April after you graduate, so I should be off the hook in 2036 (age 48!)

Saying that, if they catch me next year I will have repaid it long before then...
Ah, I was going to ask 25 years from what point... it should really be from the first payment as that is when they start charging you interest.

****s.
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Old 23.01.2015, 14:15
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Re: UK student loans

My daughter wants to go to university next year, in the UK itís now pretty much universal that the fees are GBP 9,000 per year and will probably increase. Itís kind of off-putting. Switzerland is much more civilized at CHF 1000.
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Old 23.01.2015, 14:17
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Re: UK student loans

Yes, very wise choice. After all, she will probably only need to pay tuition fees a a student.

Are you for real? Is that the only thing you can think of to calculate costs between the 2 countries?
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Old 23.01.2015, 14:38
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Re: UK student loans

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Cheap b*******s! Pay it back, it's worth nothing compared to what it provided you and if more people stop paying then new generations won't get anything.

SHAME ON YOU!

/rant

but seriously, pay it if you can or you might get in trouble if you ever go back
I'm not avoiding paying it back. Every year I send them my earnings info, every year they tell me I don't need to pay anything! Just playing by the rules!
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Old 23.01.2015, 14:40
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Re: UK student loans

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My daughter wants to go to university next year, in the UK itís now pretty much universal that the fees are GBP 9,000 per year and will probably increase. Itís kind of off-putting. Switzerland is much more civilized at CHF 1000.
I expect the living costs in Switzerland (if not living at home) out weigh the tuition fee difference. Not to mention the vast difference in University and course choice. Send her to ScotlandÖ then it will be free!
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Old 23.01.2015, 14:54
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Re: UK student loans

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... Send her to ScotlandÖ then it will be free!
Only if she has a non-British (EU or CH) passport.
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