British Student Loans Repayments. (advice needed)

It's only 15 grand, I've got almost 40 grand's worth of student loans to pay back.
 
It doesen't cost that much to transfer money :S
 
Goonerview said:
So, like, I'm living in Japan now and have no plans on going back to England ... EVER (seriously). Don't ask why, cuz it's a long ass story and real personal issues.

Anyway, my mum recently forwarded on a letter from the British student loans company saying I still owe them a lot of money and they are asking for my details in Japan.

I don't want to pay the loan by monthly repayments from Japan, because the transaction fees alone will increase the amount I would be sending ... coupled with the interest added on the loan ... I would be repaying much more than I borrowed in the first place. Seriously, f**k that!

The British system of student loans works like this, when you graduate university, if you don't earn over 15,000 GBP a year, you don't pay anything back. But, as soon as you start earning over 15,000 GBP, you start paying back a small % of your income. When I was living in England, I was either unemployed or earning measley 18,000 GBP a year ... so basically, I haven't been able to even make a dent in this loan. I have since emigrated to Japan and don't want to go back nor pay the loan back.

I read on the website, the loan gets written off completely when I turn 65. However, I do feel responsible for this loan and would like to negotiate like a one off payment to have the loan written off at a discount. Has anyone ever tried this??? I did it with a credit card debt one time, but don't know if I can do it with a student loan.

If not, I might just say f**k 'em and wait till I'm 65 years old.

Basically, I got two questions.

1. Are the British student loans company open to negotiating deals with one-off payments at a discount??

2. What happens if I just don't tell them where I am and don't pay them back, they are not going to go hunting my family??? Are they??

I ask cuz I know the American system are ruthless and don't stop till they get every last cent that you owe them. But, the British system is a little bit more flexible and understanding.

Thanks in advance.
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Literatly stopped reading after the second word... 'So, like'... Really? You have student loans and still communicate like that?
 
Is there an option for paying your student loans online? That would surely negate any transaction fees.

That's how I pay mine.
 
Judo Thai Boxer said:
It's only 15 grand, I've got almost 40 grand's worth of student loans to pay back.
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don't know for sure, but your salary is probably better than mine bro.

Yeah, gonna pay a grand a year/6 months and put this loan to bed, get that monkey off my back.
 
Phlog said:
Fuck that. Education should be free and was up until the year I went to uni, it became payable by the student because the government was scared to raise the taxes required. My parents got free education so should I.

This is why the student loan doesn't chase you, why it doesn't go on your credit record, why you never pay it off if you don't earn enough. They ask for students to pay in name only, it's a tax on conscientiousness.

They get back the money from the higher taxes paid by graduates and the higher productivity of the nation.

The real effect is it puts off the working class from going to uni in the first place.

TS. Don't worry about it. There are no reprisals. it's a stain on our country that your asked to pay this in the first place.
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Nothing is free. Tax money is not free money. This kind of thinking is what led to the debt crisis you're currently enjoying.
 
FwappyEnding said:
Literatly stopped reading after the second word... 'So, like'... Really? You have student loans and still communicate like that?
Click to expand...

It's a post on sherdog, I like to type how I speak sometimes.

Don't worry, I didn't start my dissertation with "yeah, so, ya know what ..."
 
Think its something like 9% of your wages about 15k, but i have heard that they write them off if you are out of the country for X number of years
 
FwappyEnding said:
Literatly stopped reading after the second word... 'So, like'... Really? You have student loans and still communicate like that?
Click to expand...

You can't say that to an English teacher, Fwappy. That's just not on.
 
Phlog said:
Fuck that. Education should be free and was up until the year I went to uni, it became payable by the student because the government was scared to raise the taxes required. My parents got free education so should I.
.
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I'm guessing you're young. And entitled.

Whether education should be free isn't the issue. The TS knew it wasn't free, understood the terms of the loan at the time of borrowing, and made a commitment to repay. Based on what he's said, he has the ability to pay but more or less doesn't want to. He entered into an agreement and he should honor it. Yes, student loans suck. I just finished paying off 20 grand from my first stint and recently signed up for another 20 to finish my degree. Why should other tax payers be on the hook to pay for TS education because he doesn't want to?
 
meh, you knew what you were signing up for and happily took the money, so you should suck it up and pay them back. you can afford to fly half way round the world to live in an exotic country you can afford to pay what you owe.

im sure if you call/email them and tell them your circumstances they can accomodate you somehow that will mean you don't have to pay a ton of transaction fees.
 
disappointed.gif
 
Wow, another chit thread Goonerview creates about his life. At least it wasn't about a female this time.
 
Goonerview said:
LOL, getting all deep with me.

I'd love to tell you my personal story, but it's a really long story and would open emotional wounds that I would end up smashing my door in like Rampage on TUF 10.

I think I'm going to call up the students loan company and see if we can negotiate something. This company also said in the letter that they are going to charge me more money because I didn't notify them that I left the country ... which makes me more inclined to think f**k em!! and not pay them back at all.

I think it's unfair to pay back this loan in drips and drabs ... where I will be paying transaction fees through the nose ... paying back way more than I initially borrowed. It's bullshit.
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I want to hear the long personal story that drives u into a rage. Seriously tell us
 
I pay it from a bank account based in the UK so no remittance fee. I already had this set up with some money in it though. I would only try and dodge it if you never want to return to the UK. They will just pile on fines otherwise and you will dig a ditch.

PS:

I can understand why some people might find it too much and kill themselves
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Bit dramatic?
 
Phlog said:
Fuck that. Education should be free and was up until the year I went to uni, it became payable by the student because the government was scared to raise the taxes required. My parents got free education so should I.

This is why the student loan doesn't chase you, why it doesn't go on your credit record, why you never pay it off if you don't earn enough. They ask for students to pay in name only, it's a tax on conscientiousness.

They get back the money from the higher taxes paid by graduates and the higher productivity of the nation.

The real effect is it puts off the working class from going to uni in the first place.

TS. Don't worry about it. There are no reprisals. it's a stain on our country that your asked to pay this in the first place.
Click to expand...

You sound like an entitled and immature child.
 
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