You may need to grips together with your education loan repayments into the UK, but what occurs in the event that you move abroad? Do not bury your face within the sand, get clued up with this complete guide.
It is probably one of the most commonly expected questions about student education loans in the united kingdom – is it necessary to repay your loan in the event that you move abroad?
The bottom line is, yes you do – however your repayments will not be automatic, and you should need to invest the legwork and that means you aren’t getting stung with costs (or even worse) later on.
It could be a little bit of a hassle to work through so we have slice the jargon and gathered the known facts for you personally.
What’s on these pages?
What goes on to your education loan whenever you move abroad?
If you are going overseas for extended than 90 days then you definitely need to get hold of the scholar Loans Company (SLC) to sort your student Loan repayments out.
While you are residing in the UK, you never really should consider your Student Loan repayments, as HMRC takes the amount of money automatically from your own paycheck every month just before also see it – and provides it right to the SLC.
As soon as you move abroad, HMRC is not any longer in control, and it is your decision to inform the SLC simply how much you are earning and supply proof for the. (more…)