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Simply paying off a son's student loan - easy?

1nvest
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Re: Simply paying off a son's student loan - easy?

#712617

Postby 1nvest » February 19th, 2025, 7:19 am

Lootman wrote:
didds wrote:has this changed "recently" ? I was under the impression that if working abroad above the threshold one was obliged to send payments ?

I don't know but as a practical matter such a provision would be hard to enforce on someone outside of UK jurisdiction.

As I recall one of the original criticisms of such student loans is that it is too easy for someone to escape the debt by simply emigrating after graduating.

The likes of FATCA have made international data sharing/spying much more detailed. There are very few places/countries outside of that nowadays so no matter where you might go other than those exceptions (not places you'd probably want to live anyway), your death or earnings etc. are inclined to be visible/flagged to HMRC. Grant of probate (release of funds) in other countries are potentially locked until you've settled up with HMRC's take. Wages earned in another country likely may even have the amounts stopped at source. Fundamentally its a incentive for many grads not to work anything other than for up to the allowance amount (minimum wage/hours) - only those that might earn well above average wages perhaps having incentive.

A crazy system, where renters fleeced high rent amounts often for low quality accommodation that has indebted many before they've even started proper work.

stevensfo
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Re: Simply paying off a son's student loan - easy?

#712700

Postby stevensfo » February 19th, 2025, 12:17 pm

1nvest wrote:
Lootman wrote:I don't know but as a practical matter such a provision would be hard to enforce on someone outside of UK jurisdiction.

As I recall one of the original criticisms of such student loans is that it is too easy for someone to escape the debt by simply emigrating after graduating.

The likes of FATCA have made international data sharing/spying much more detailed. There are very few places/countries outside of that nowadays so no matter where you might go other than those exceptions (not places you'd probably want to live anyway), your death or earnings etc. are inclined to be visible/flagged to HMRC. Grant of probate (release of funds) in other countries are potentially locked until you've settled up with HMRC's take. Wages earned in another country likely may even have the amounts stopped at source. Fundamentally its a incentive for many grads not to work anything other than for up to the allowance amount (minimum wage/hours) - only those that might earn well above average wages perhaps having incentive.

A crazy system, where renters fleeced high rent amounts often for low quality accommodation that has indebted many before they've even started proper work.


Don't you mean CRS? FATCA is the USA system.

Nevertheless, seeing that even parking fines can be sold to debt collectors across Europe, then student loans may be treated in the same way.

Not sure how Brexit affects this, but I know that fines collected abroad often arrive after so many months.

It's got a lot worse since the introduction of controls of cars entering certain cities.

Without doubt, London is the worst. I wanted to drive down and visit our son and spent ages trying to navigate all the crazy rules online. In the end I gave up and took the train. Parking at the station is another story entirely. How do Brits put up with this crap???

Steve

1nvest
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Re: Simply paying off a son's student loan - easy?

#712818

Postby 1nvest » February 19th, 2025, 6:41 pm

stevensfo wrote:Don't you mean CRS? FATCA is the USA system.

Nevertheless, seeing that even parking fines can be sold to debt collectors across Europe, then student loans may be treated in the same way.

Not sure how Brexit affects this, but I know that fines collected abroad often arrive after so many months.

It's got a lot worse since the introduction of controls of cars entering certain cities.

Without doubt, London is the worst. I wanted to drive down and visit our son and spent ages trying to navigate all the crazy rules online. In the end I gave up and took the train. Parking at the station is another story entirely. How do Brits put up with this crap???

Steve

Thanks. Yes.

Re: Put-up with ... possibly because the electorate are mostly net beneficiaries provided with homes in cities and have no cars (others fund their mobile phone and uber journeys).

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Re: Simply paying off a son's student loan - easy?

#713229

Postby didds » February 21st, 2025, 1:02 pm

stevensfo wrote: How do Brits put up with this crap???

Steve


by not going to london for a start :-)


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