You may have to grips along with your education loan repayments in the UK, but what happens in check my site the event that you move abroad? Do not bury the head in the sand, get clued up with your complete guide.
It is one of the more commonly expected questions about figuratively speaking in great britain – must you repay your loan in the event that you move abroad?
In a nutshell, yes you do – your repayments will not be automatic, and you will have to devote the legwork and that means you aren’t getting stung with costs (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 facts for your needs.
What’s on this site?
What goes on to your education loan whenever you move abroad?
If you are going overseas for longer than 3 months you will need to contact the scholar Loans Company (SLC) to sort away your education loan repayments.
If you are residing in the UK, you do not need to consider your education loan repayments, as HMRC takes the funds immediately from your paycheck every month before you decide to also notice it – and provides it right to the SLC.
As soon as you move abroad, HMRC isn’t any longer in charge, and it’s really your decision to inform the SLC exactly how much you are earning and offer evidence for that.Continue reading