Wellers and Whitehead Posted January 16, 2011 Share Posted January 16, 2011 Anybody any info on student loans from Uk unis.. How this works when moving permently to Oz?! Link to comment Share on other sites More sharing options...
Waitingawhile Posted January 16, 2011 Share Posted January 16, 2011 There is information on the student loans web site - i may be wrong but as this is Govt money you can be pursued for it in Australia as there is some sort of reciprocal agreement however you can also defer it much as you would in the Uk dependant upon income but the rules are different- it is better not to just take my word though and look at this link Repaying student loans when you move overseas (courses starting from 1998) : Directgov - Education and learning Link to comment Share on other sites More sharing options...
Wellers and Whitehead Posted January 16, 2011 Author Share Posted January 16, 2011 Thank you!! It would be intresting to see what others have done about their student loans.. How does it work with regards to the dollars to pounds etc.. Will it take me longer to pay back due to this?? Link to comment Share on other sites More sharing options...
RockDr Posted January 16, 2011 Share Posted January 16, 2011 When you move abroad, you have to inform the Student Loans company, and provide evidence of your income in Australia. They will tell you how much your repayments need to be, based on that income. They expect that amount in pounds to arrive in their bank account, so you have to organise yourself to make the repayments, which means that it comes out of your post-tax australian income, and you will also be responsible for money transfer/exchange rate charges etc. Personally, I saved like hell in the years before I moved out here so was able to pay it off in full before I left and not have all that hassle. Link to comment Share on other sites More sharing options...
Guest Kimdunja Posted January 16, 2011 Share Posted January 16, 2011 RockDr is absolutely right You have to inform them you are moving abroad - if you don't and they find you (more likely in Oz than most places) they can make you pay waaaaaay more. The Student Loans Company have tailored the repayment threshold and amount for different countries (link below). If you are in the UK you start paying (under the current scheme) 9% of your income over £15k. In Australia - because it is of an equivalent economic level as the UK (Salaries will be at least as high unlike if you moved to Asia or Africa). You also pay 9% of earnings over £15000 (A$24000) Overseas Thresholds Link to comment Share on other sites More sharing options...
Guest Kimdunja Posted January 17, 2011 Share Posted January 17, 2011 Oh - the link I gave also shows how much you will pay if you don't tell them you have moved abroad and they find you - £246 a month! This is roughly the amount you'd pay on a A$ 77000 a year (£49000) job Link to comment Share on other sites More sharing options...
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