newjez Posted January 24, 2014 Share Posted January 24, 2014 I don't know the rules and I may get my head bitten off for saying this but.....there is IMO a greater moral imperative for paying off a student loan if you have a UK education and then move overseas and pay taxes elsewhere. Can you elaborate? Quote Link to comment Share on other sites More sharing options...
nicolac34 Posted January 24, 2014 Share Posted January 24, 2014 I am sure that u didnt used to have to pay student loans if u were in oz. They must have changed it? You certanly do have to pay it off even if you live in Australia! They've become much more savvy about chasing people down lately, they send us out overseas assessment forms we have to complete yearly and they decide on a set monthly payment we have to make for the year. It actually can work out quite unfair this way, as if you're in the UK the amount you pay fluctuates with your salary, whereas here it's a set amount based on an exchange rate that's set once a year. So for us we are supposed to pay £244 a month - which is today about $465 per month (and rising), if we were earning the same in UK£ we wouldn't be paying anywhere near as much. And they do chase you for it, we didn't pay it in December (because we chose to clear our 19% credit card instead of this 1.5% loan) and I've got an arrears notice through the post already. We'll make up the payment next month, but it's a myth you don't have to pay it. I know plenty of people who are quite savvy and have the money earning more in a savings account, but for us it's $465 that we'd rather have each month. Having debt in the UK whilst being in Oz just doesn't make financial sense if you're at the whim of the exchange rate. Quote Link to comment Share on other sites More sharing options...
fensaddler Posted January 24, 2014 Share Posted January 24, 2014 Didn't have student loans in the UK at one time either Nikey. I was a mature student, 30 when I went back to Uni. I had been working since 16, my parents were not on a high enough income to have to contribute and I got a full grant that I could get through on without borrowing anything. I had a Lotus Cortina at the time I went back though that was my pride and joy. I had always had decent cars from starting work as a fitter, it was almost a hobby of all fitters that they would work on cars and sell them on, do their own maintenance, soup them up a bit. I had enough money when I went to Uni to run it but not maintain it like I would have liked. We lived in a dodgy area of Sparkhill too, so I was always worried about getting it nicked. I had a good immobiliser on it though, so I think that saved it a couple of times. End of the first year I went to Bermuda for a month with my girlfriend, as her Sister and BIL were living there and we didn't know how long they would be there. Blew just about all my savings on that one holiday then the diff on the car started playing up. Had to leave it at home and use public transport for the last 2 years of the degree. Didn't like that one bit. Sounds like you're a fellow classic car fan and from the same part of the world as me (approximately...). Did the Cortina come with you? Quote Link to comment Share on other sites More sharing options...
RioMarina Posted January 24, 2014 Author Share Posted January 24, 2014 I think if you shifted you life savings at 1.4 you are entitled to a moan. I know what you mean mate. I can just sense it at the next party we have. "what rate did you get when you came over. We got 2.6, well we got 1.4, we got 1.9". Anyone who took the step at 1.4 must be gutted. These are life changing decisions and you need to make sure you get the best from the exchange rate. The only concern now is house price inflation again. Mind you who can afford a house in Oz now even coming over at 1.9. Think I'll give the next party a miss! Quote Link to comment Share on other sites More sharing options...
Nikey Posted January 24, 2014 Share Posted January 24, 2014 bad one!! ... you will eventually pay it off though and that will be a nice feeling .... let's hope the exchange rates balance you the other way for a while to make you a bit more even You certanly do have to pay it off even if you live in Australia! They've become much more savvy about chasing people down lately, they send us out overseas assessment forms we have to complete yearly and they decide on a set monthly payment we have to make for the year. It actually can work out quite unfair this way, as if you're in the UK the amount you pay fluctuates with your salary, whereas here it's a set amount based on an exchange rate that's set once a year. So for us we are supposed to pay £244 a month - which is today about $465 per month (and rising), if we were earning the same in UK£ we wouldn't be paying anywhere near as much. And they do chase you for it, we didn't pay it in December (because we chose to clear our 19% credit card instead of this 1.5% loan) and I've got an arrears notice through the post already. We'll make up the payment next month, but it's a myth you don't have to pay it. I know plenty of people who are quite savvy and have the money earning more in a savings account, but for us it's $465 that we'd rather have each month. Having debt in the UK whilst being in Oz just doesn't make financial sense if you're at the whim of the exchange rate. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 24, 2014 Share Posted January 24, 2014 (edited) bad one!! ... you will eventually pay it off though and that will be a nice feeling .... let's hope the exchange rates balance you the other way for a while to make you a bit more even I only pay off my aussie hecs when I work in oz. They should write it off soon I hope. Edited January 24, 2014 by newjez Quote Link to comment Share on other sites More sharing options...
northernbird Posted January 24, 2014 Share Posted January 24, 2014 I know what you mean mate. I can just sense it at the next party we have. "what rate did you get when you came over. We got 2.6, well we got 1.4, we got 1.9". Anyone who took the step at 1.4 must be gutted. These are life changing decisions and you need to make sure you get the best from the exchange rate. The only concern now is house price inflation again. Mind you who can afford a house in Oz now even coming over at 1.9. Think I'll give the next party a miss! Surprised anyone even invites you!!!! Quote Link to comment Share on other sites More sharing options...
Peach Posted January 24, 2014 Share Posted January 24, 2014 I only pay off my aussie hecs when I work in oz. They should write it off soon I hope. My missus was overseas for more than 12 years, but they still started chasing for HECS the moment she started work back here. Quote Link to comment Share on other sites More sharing options...
pablo Posted January 24, 2014 Share Posted January 24, 2014 (edited) Can you elaborate? I guess he's saying they should pay off their debt "more so" if they are taking their UK taught skills elsewhere ? In principle i suppose he's right,but tbh,i dont blame anyone following the tax avoiders,and expenses milking public servants example's,they dont care for moral's and principle's Two wrongs dont make a right an all that i know,but i wouldn't condemn them,gotta be honest Edited January 24, 2014 by pablo Quote Link to comment Share on other sites More sharing options...
newjez Posted January 24, 2014 Share Posted January 24, 2014 My missus was overseas for more than 12 years, but they still started chasing for HECS the moment she started work back here. Tbh, I was the first year they brought it in, and the fees were pretty low. There's not much left to pay. But the ato are pretty hot on it. Quote Link to comment Share on other sites More sharing options...
Guest guest30085 Posted January 24, 2014 Share Posted January 24, 2014 (edited) I don't know the rules and I may get my head bitten off for saying this but.....there is IMO a greater moral imperative for paying off a student loan if you have a UK education and then move overseas and pay taxes elsewhere. I guess he's saying they should pay off their debt "more so" if they are taking their UK taught skills elsewhere ?In principle i suppose he's right,but tbh,i dont blame anyone following the tax avoiders,and expenses milking public servants example's,they dont care for moral's and principle's Two wrongs dont make a right an all that i know,but i wouldn't condemn them,gotta be honest I have student loans from studying for the last four years. If I had started my degrees several years ago then I wouldn't owe anything other than living costs, as tuition fees were covered. The difference is that I have paid for my education (although it isn't paid back straight away-but it still has to be paid), therefore I don't feel under any obligation to stay in the UK, why would I? So long as I pay my loans off, why would it matter if I take those skills abroad, not trying to be argumentative, I'm just puzzled by the example given. Edited January 24, 2014 by guest30085 Quote Link to comment Share on other sites More sharing options...
Peach Posted January 24, 2014 Share Posted January 24, 2014 I have student loans from studying for the last four years. If I had started my degrees several years ago then I wouldn't owe anything other than living costs, as tuition fees were covered. The difference is that I have paid for my education (although it isn't paid back straight away-but it still has to be paid), therefore I don't feel under any obligation to stay in the UK, why would I? I don't think they're saying that you should be shackled to living in the UK. Just that if you do get an education there and then not pay taxes (by moving overseas) morally you should still be compelled to pay it back. Quote Link to comment Share on other sites More sharing options...
pablo Posted January 24, 2014 Share Posted January 24, 2014 I have student loans from studying for the last four years. If I had started my degrees several years ago then I wouldn't owe anything other than living costs, as tuition fees were covered. The difference is that I have paid for my education (although it isn't paid back straight away-but it still has to be paid), therefore I don't feel under any obligation to stay in the UK, why would I? Lmao,was waiting for you to post,im doing a lot of assuming here,but i "think" that's what GGS is saying? "If" uni education is subsidised to "some degree"(IE the cost of the course,over and above the student fee's),then i think some would say the student should put something back into the UK? I dont know if student fee's cover the "whole" cost btw?,but student's leaving the UK after education doesn't bother me tbh Quote Link to comment Share on other sites More sharing options...
Guest guest30085 Posted January 24, 2014 Share Posted January 24, 2014 I don't think they're saying that you should be shackled to living in the UK. Just that if you do get an education there and then not pay taxes (by moving overseas) morally you should still be compelled to pay it back. You do have to pay it back, as it is a government debt and not a civil debt, it follows you, they can and do enforce repayment of student loans even if you are living abroad. Obviously some may try to avoid, but if you are found then it can be enforced. Students loans cannot even be included in bankruptcy. Therefore, if I've paid for my education, I don't feel under any obligation to stay and pay taxes, students now have to pay fully for their tuition fees, there is no longer any government subsidy. Lmao,was waiting for you to post,im doing a lot of assuming here,but i "think" that's what GGS is saying?"If" uni education is subsidised to "some degree"(IE the cost of the course,over and above the student fee's),then i think some would say the student should put something back into the UK? I dont know if student fee's cover the "whole" cost btw?,but student's leaving the UK after education doesn't bother me tbh As above Pabs . Quote Link to comment Share on other sites More sharing options...
Peach Posted January 24, 2014 Share Posted January 24, 2014 You do have to pay it back, as it is a government debt and not a civil debt, it follows you, they can and do enforce repayment of student loans even if you are living abroad. Obviously some may try to avoid, but if you are found then it can be enforced. Students loans cannot even be included in bankruptcy. Therefore, if I've paid for my education, I don't feel under any obligation to stay and pay taxes, students now have to pay fully for their tuition fees, there is no longer any government subsidy. What you're taking about is Student loans V2. The original loans weren't treated as government debts and there was a massive problem with foreign students getting a loan and education, before quietly disappearing at the end of it. Hence why the system was tightened up. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted January 24, 2014 Share Posted January 24, 2014 Lmao,was waiting for you to post,im doing a lot of assuming here,but i "think" that's what GGS is saying?"If" uni education is subsidised to "some degree"(IE the cost of the course,over and above the student fee's),then i think some would say the student should put something back into the UK? I dont know if student fee's cover the "whole" cost btw?,but student's leaving the UK after education doesn't bother me tbh That was what I meant but it did come across as a bit of a crusade, not intended btw. For those who stay in the UK and pay taxes all their working life the part of the student loan that funds the fees seems a bit like double taxation to me. The education they paid for serves the country and the wealthy don't need the loans so it is a double tax on the poorer student really. I can declare no personal interest backing my view as I left school at 16 and have worked for 36 years and counting, and there were no student loans in the 70s but then nobody I knew went to university then. Quote Link to comment Share on other sites More sharing options...
Guest guest30085 Posted January 24, 2014 Share Posted January 24, 2014 That was what I meant but it did come across as a bit of a crusade, not intended btw. For those who stay in the UK and pay taxes all their working life the part of the student loan that funds the fees seems a bit like double taxation to me. The education they paid for serves the country and the wealthy don't need the loans so it is a double tax on the poorer student really. I can declare no personal interest backing my view as I left school at 16 and have worked for 36 years and counting, and there were no student loans in the 70s but then nobody I knew went to university then. Its ok, I was just confused by the example given, as if education is paid for by the student, then I doubt any would feel an obligation to stay. Maybe under the older system where tuition fees were fully subsidised, then maybe, but I doubt it would stop anyone migrating if that is what they wish . But yes from that point of view I understand, but not for us poor recent/current students Quote Link to comment Share on other sites More sharing options...
RioMarina Posted January 24, 2014 Author Share Posted January 24, 2014 Surprised anyone even invites you!!!! Steady on Ald Lass. Quote Link to comment Share on other sites More sharing options...
pablo Posted January 24, 2014 Share Posted January 24, 2014 In a way they pay off their debt with the money they put into the local businesses/community anyway,like dinner time,a glass of lager and an egg mayonnaise butty times thousands of students all adds up,ok,that's between four of them,but it still adds up Quote Link to comment Share on other sites More sharing options...
Nikey Posted January 24, 2014 Share Posted January 24, 2014 Yes - that's the type I was referring to as well. I remember it being something like u didn't have to pay uk loans if u lived in oz and then it got written off once u were 50.................. What you're taking about is Student loans V2. The original loans weren't treated as government debts and there was a massive problem with foreign students getting a loan and education, before quietly disappearing at the end of it. Hence why the system was tightened up. Quote Link to comment Share on other sites More sharing options...
Guest guest30085 Posted January 24, 2014 Share Posted January 24, 2014 In a way they pay off their debt with the money they put into the local businesses/community anyway,like dinner time,a glass of lager and an egg mayonnaise butty times thousands of students all adds up,ok,that's between four of them,but it still adds up 'Something' Off - being polite as it's a family forum :laugh: Quote Link to comment Share on other sites More sharing options...
pablo Posted January 24, 2014 Share Posted January 24, 2014 'Something' Off - being polite as it's a family forum :laugh: Im fond of a stereotype on a Friday night about 9.12 pm,always been the same:biggrin::wubclub: Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted January 28, 2014 Share Posted January 28, 2014 Sounds like you're a fellow classic car fan and from the same part of the world as me (approximately...). Did the Cortina come with you? No unfortunately the Cortina was sold off very cheaply when I'd finished Uni. It had sat at my parents house for a year, still couldn't afford to fix the diff, got onto a graduate training program with Ferranti that was paying less than I'd been earning as a 20 year old, so no decent money coming in for a while. Just had to go. Luckily my eldest likes his cars and has had a XR6 turbo ute, which he spent heaps on having tuned. He then decided he wanted to buy a corvette stingray, the ute went and he's now the proud owner of a 69 Corvette. Nice car too, and we've already managed to do a couple of jobs on it that he would have had to take the ute to the garage for. It's nice to get back to a normal engine, plugs, points and plenty of room in the engine bay. It's a 350 chev engine and done just over 100,000 miles from new, so should be OK for a few years yet. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted January 28, 2014 Share Posted January 28, 2014 In a way they pay off their debt with the money they put into the local businesses/community anyway,like dinner time,a glass of lager and an egg mayonnaise butty times thousands of students all adds up,ok,that's between four of them,but it still adds up They can't afford those luxuries pabs, don't you know the price of decent dope nowadays mate.:wink: Quote Link to comment Share on other sites More sharing options...
andyjmason Posted February 8, 2014 Share Posted February 8, 2014 Its sad when people try to put others off coming in my opinion. Everyone gets out of it what they put in and if I'd listened to the negative comments people offered we would never have made the move here in 2011. So glad we stuck 2 fingers up to the doubters and came anyway. Despite losing out on selling our house in the UK and the exchange rate at that time too we couldn't be happier here, life isn't just about money and our happiness as individuals and as a family is so much greater here. we work and don't earn phenomenal wages but we are comfortable, have no credit cards and debt apart from a manageable mortgage on a lovely home here, but we feel like life is now more about living and less about paying the bills. The people are friendly and we are happy on all levels of our lives. Our 19 year old loves it and our toddler has a great life too. We came with a 'let's do this!' attitude. we left the moans and groans and negativity of the UK behind at Heathrow and made an effort to embrace every new challenge we faced. We want to fit in and be part of this place not criticise and do the classic, never satisfied thing. I honestly believe that if you come with energy, an open mind and a friendly, outgoing attitude you'll thrive here. So to anyone who's not happy here in Aus, by all means hop on a plane and go back to the place you believe is better for you and yours, but don't try to paint a generalised, negative picture for those mustering up the courage to try a new and daunting adventure. Life is short, travel is good for the soul and its better to regret the things you did try than those you didn't. If you hate it, you can go back, no obstacle is insurmountable, its just expensive. Ad if you do go back at least you were brave enough to try it and you'll have learnt something about yourself and the world in the process. Quote Link to comment Share on other sites More sharing options...
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