All About Repaying your education loan from abroad

All About Repaying your education loan from abroad

You may need to grips along with your education loan repayments when you look at the UK, but what occurs in the event that you move abroad? Never bury your mind in the sand, get clued up with this complete guide.

It really is probably the most commonly asked questions about student education loans in the united kingdom – is it necessary to repay your loan in the event that you move abroad?

In summary, yes you do – your repayments will not be automatic, and you should need to place in the legwork which means you aren’t getting stung with charges (or even even worse) later on.

It may be a little bit of a frustration to sort out therefore we’ve slice the jargon and collected the known facts for you personally.

What’s on this site?

What are the results to your education loan whenever you move abroad?

If you should be going offshore for longer than 3 months you will need to get hold of the scholar Loans Company (SLC) to sort down your education loan repayments.

As long as you’re staying in the UK, you never need to consider carefully your education loan repayments, as HMRC takes the cash immediately from your own paycheck every month it- and gives it straight to the SLC before you even see.

When you move abroad, HMRC is not any longer in charge, and it is your responsibility to inform the SLC just how much you are earning and supply proof for the. They will set your payment routine appropriately.

It is not too hard to organise either, you simply must make sure you can get hold of the paperwork that is right.

The Overseas Money Assessment Form

It is possible to inform the SLC about your residing situation and just how much you are making with an income that is overseas Form (OVFA) which you install through the SLC web site. (more…)

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