PinOz15 Posted January 25, 2015 Share Posted January 25, 2015 The default amount shown on the SLC website only applies if you don't send them the information needed for them to calculate your repayments. Once you send them the information required, they will calculate the repayments based on your income above the relevant threshold. Hi I had filled in an overseas assesment form in 2010 and was told i had to pay $70 a month, however I sent documentation trying to reason how i could not afford this (i.e. on a working hol visa you can only work for 6 months therefore i cannot pay an annual fee, also the transfer costs and how Sydney's living costs are higher etc.) I did not hear back from them after this in 2011, i have changed address but they have all my home details and did not contact. I am still in Australia but currently unemployed although my dad has offered to pay the loan off. Will they accept this and possibly negotiate on the interest accrued if he pays a lump sum in one go to clear the balance? Will there be more to pay on top of the initial amount plus the monthly amount accrual? Any help is much appreciated Thanks Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 25, 2015 Share Posted January 25, 2015 @PinOz15 I have moved your post in to its own thread as the other thread was nearly 5 years old. Good luck finding the answers. Link to comment Share on other sites More sharing options...
juliew1499 Posted January 25, 2015 Share Posted January 25, 2015 Hi There are different types of student loans depending upon when you took it out. our daughter was allowed 12 months overseas visit to Australia and didn't have to pay any repayments whilst she was away as it was a working holiday. I think you should only be filling in an assessment form if you have emigrated a got PR. Give them a call and double check. Julie Link to comment Share on other sites More sharing options...
PinOz15 Posted January 26, 2015 Author Share Posted January 26, 2015 Hi There are different types of student loans depending upon when you took it out. our daughter was allowed 12 months overseas visit to Australia and didn't have to pay any repayments whilst she was away as it was a working holiday. I think you should only be filling in an assessment form if you have emigrated a got PR. Give them a call and double check. Julie (Thanks Pom Queen) Thanks Julie If my dad is going to clear the balance am i still required to gather all documentation? I don't even have proof for all of it Link to comment Share on other sites More sharing options...
Naomi from Manchester Posted January 26, 2015 Share Posted January 26, 2015 My Dad cleared mine in 2011 (I was at Uni 2000-2006). He just had my reference number, spoke to them on the phone and then posted a cheque. No negotiation re interest and paying a lump sum. I rang them a short while later to be sure they'd processed the cheque. Link to comment Share on other sites More sharing options...
PinOz15 Posted January 26, 2015 Author Share Posted January 26, 2015 My Dad cleared mine in 2011 (I was at Uni 2000-2006). He just had my reference number, spoke to them on the phone and then posted a cheque. No negotiation re interest and paying a lump sum. I rang them a short while later to be sure they'd processed the cheque. Hi Naomi Thanks for the msg. If poss may i ask how much u owed or what percentage of your initial amount did you have to pay in penalties? Its the initial amount + interest + penalties/fees that we have to pay total if clearing balance? (the arrears are not included) Link to comment Share on other sites More sharing options...
Naomi from Manchester Posted January 26, 2015 Share Posted January 26, 2015 Do you mean penalties for paying it off in a lump sum? We didn't have any penalties for that, surely they aren't charging for that now, are they?! The amount I owed was just the amount borrowed plus interest and it came to approx £13,000. Once I emigrated, I sent them all the required documentation so that they could calculate how much I had to pay off per month from Australia. However, whilst the amount I payed per month when in the Uk was very small for me (I was able to pay more than the minimum amount whilst I was working in the UK for a few years since graduating), the minimum amount they calculated for me to pay once I was in Australia was massive. There was no way I could afford to pay it per month - it would have been the end of my life over here, I would have had to move back to the UK. I think they must have looked at my Oz salary and just done a currency conversion and decided I was earning a lot (which I wasn't at all), without taking the cost of living here into account. Link to comment Share on other sites More sharing options...
PinOz15 Posted January 26, 2015 Author Share Posted January 26, 2015 Do you mean penalties for paying it off in a lump sum? We didn't have any penalties for that, surely they aren't charging for that now, are they?! The amount I owed was just the amount borrowed plus interest and it came to approx £13,000. Once I emigrated, I sent them all the required documentation so that they could calculate how much I had to pay off per month from Australia. However, whilst the amount I payed per month when in the Uk was very small for me (I was able to pay more than the minimum amount whilst I was working in the UK for a few years since graduating), the minimum amount they calculated for me to pay once I was in Australia was massive. There was no way I could afford to pay it per month - it would have been the end of my life over here, I would have had to move back to the UK. I think they must have looked at my Oz salary and just done a currency conversion and decided I was earning a lot (which I wasn't at all), without taking the cost of living here into account. yea same here as its basically double for Australian dollar, thens there the transer cost to add on each month. regards penalties - i've read that if you didn't keep them updated the whole time they enforce penalties, after i sent of my documentation the first time in 2011 i did not contact again..i've not heard from them but im worried they will add penalties for not contacting? Link to comment Share on other sites More sharing options...
Naomi from Manchester Posted January 27, 2015 Share Posted January 27, 2015 I don't know about that but they're so incredibly incompetent I wouldn't be surprised if they aren't aware of it themselves. Link to comment Share on other sites More sharing options...
GeoSurfer Posted January 27, 2015 Share Posted January 27, 2015 They don't know their arse from their elbow. However, are you sure that you're working it out in GBP using the thresholds? Which plan are you on? For example, the Plan 1 threshold is £23,675 ($45,000) so someone earning say £29,000 ($55,000) would pay £480 per year or £40 per month On Plan 2 the threshold is higher at £25,200 ($48,000) so someone earning say £29,000 ($55,000) would pay £342 per year or £28.50 per month Of course if you're earning £45,000 ($85,000) a year, you're going to be stung more with £1919 per year/£160 a month but I'd like to think if you're on £45,000 this would be manageable. I'm intending to have a bank account in England (as required by SLC anyway) topped up with a years worth of payments which SLC can take from and then top up the bank account every 6 months/12 months to stop the transfer fees being an issue, is there any reason this is unfeasible? Link to comment Share on other sites More sharing options...
PinOz15 Posted January 28, 2015 Author Share Posted January 28, 2015 They don't know their arse from their elbow. However, are you sure that you're working it out in GBP using the thresholds? Which plan are you on? For example, the Plan 1 threshold is £23,675 ($45,000) so someone earning say £29,000 ($55,000) would pay £480 per year or £40 per month On Plan 2 the threshold is higher at £25,200 ($48,000) so someone earning say £29,000 ($55,000) would pay £342 per year or £28.50 per month Of course if you're earning £45,000 ($85,000) a year, you're going to be stung more with £1919 per year/£160 a month but I'd like to think if you're on £45,000 this would be manageable. I'm intending to have a bank account in England (as required by SLC anyway) topped up with a years worth of payments which SLC can take from and then top up the bank account every 6 months/12 months to stop the transfer fees being an issue, is there any reason this is unfeasible? Sorry GeoSurfer I really have no idea, I have just reset my p/w on my account and made a payment online from my UK account to clear the balance Link to comment Share on other sites More sharing options...
Naomi from Manchester Posted January 28, 2015 Share Posted January 28, 2015 I'd like to think if you're on £45,000 this would be manageable? Depends really, not if you're paying Sydney rent for an apartment in a suburb close to the city centre and having to buy and run a car etc. If you're living in a different state or if you've got more of a backpacker / shared house lifestyle thing going on then maybe it would be. Link to comment Share on other sites More sharing options...
Grabri Posted January 29, 2015 Share Posted January 29, 2015 I don't understand how can be higher. The threshold if you live in Australia is higher. So you start paying 9% after that threshold of the amount above the threshold. So if you earned the equivalent of £35000 roughly you would pay around £900 for the year. If you earn £45000 it should be £2000 for the year. If I'm incorrect let me know, http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678668&_dad=portal&_schema=PORTAL Link to comment Share on other sites More sharing options...
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