Living expenses in the UK for international students
Curious about living expenses in the UK for international students? We cover housing, bills, funding and how to save on costs with Wise.
How to repay your student loan when you’re moving abroad: Complete guide
If you studied in the UK, you may be one of the millions of former students with a loan from the Student Loans Company (SLC) to repay.
If you live and work in the UK, repayments are usually taken directly from your salary. If you move overseas, you need to contact the SLC, provide information about your income and arrange repayments yourself.
But what happens if you choose to move abroad to live or work?
This article explains what happens, what to do before you move and how to pay your student loan while abroad with Wise.
The multi-currency Wise account lets you send, spend and manage money internationally with transparent fees* and at the mid-market rate, which may save you money compared with some other providers.
What happens to your student loan when you’re moving abroad?
Your UK student loan doesn’t disappear when you move overseas. In fact, it can continue to accrue interest so you need to make arrangements before you move abroad so you don’t fall behind.
Will your student loan be written off when you’re living abroad?
Moving overseas doesn’t automatically cancel your student loan. If you don’t tell the SLC about your move, you may face penalties or be asked to repay the loan and interest in a lump sum.
How much do you pay on your student loan when working abroad?
You normally repay under the conditions of your plan, but the overseas threshold can vary by country. The SLC will ask for your income and circumstances, calculate the applicable amount and tell you what to pay.
The repayment percentage depends on your plan. For example, the current guide lists 9% above the relevant threshold for Plan 1, Plan 2 and Plan 5 and 6% for postgraduate loans. 1
Check the latest GOV.UK student-loan guidance to find out which payment plan you’re on and your circumstances.1
What happens with your student loan after five years abroad?
There is no general five-year cancellation rule for living overseas. Whether a loan is eventually written off depends on the loan plan and its terms, not simply on how long you have lived outside the UK.2
Be sure to check the Student Loan Company terms and conditions before making any assumptions.
How to repay your student loan when you’re living abroad
Here’s a step-by-step guide covering what you need to know before you move abroad:
1. Notify the SLC before you go
If you’ll be living abroad for more than three months, tell the SLC about your change of circumstances.
You can update your details through the GOV.UK online service.3
2. Update your employment details with the SLC
Because repayments are made directly to the SLC rather than through a UK employer, the SLC needs evidence of your income. This may include recent payslips, an employment contract or a letter from your employer. Self-employed borrowers may need accounts, an accountant’s letter or bank statements.
You’ll also need to provide:
- Your gross income
- The country where you live
- The currency you’re paid in.
3. Your repayments are calculated
Once you’ve updated your employment details, the SLC will send you a letter explaining your monthly repayments.
If you earn in another currency, the SLC will convert your income and normally show the payment schedule in pounds.
4. Set up your payments
You can use a bank transfer, Direct Debit where available, an international transfer or an international debit card. Check the transfer fee and exchange rate, and allow enough time for the payment to reach the SLC.
If you’re based in an EU country that uses euros, you can convert your EUR to GBP using Wise to ensure you get the mid-market rate and to keep fees as low as 0.24%*. You can then set up your transfer directly to SLC's UK bank account.
How can you repay the Student Loans Company from abroad?
Your GOV.UK online account gives you options for making repayments, including Direct Debit, international transfer and one-off or recurring payments from an international debit card.4 Keep confirmation of each payment and check that the amount arrives in pounds as expected.
With a Wise account, you get low, transparent fees*, mid-market exchange rates, and secure, trackable transfers.
Can you pay US student loans from the UK?
If you have a US federal student loan, you pay the loan servicer assigned to that loan, not the UK Student Loans Company.
Start by logging into your StudentAid.gov account to identify the servicer and access the payment link. The servicer’s billing statement should show the due date, amount and available payment methods.5
Payment methods vary by servicer and some publish separate instructions for international money orders or payments from a US-dollar account, so don’t assume that a UK transfer will be accepted automatically.6
Start your new life abroad with a Wise account
An account with the ability to hold multiple currencies such as the Wise account may help you hold and convert money while you manage financial commitments in the UK and abroad.
It may help you take some of the stress out of moving abroad so you can start your new life as hassle-free as possible, at least when it comes to managing your finances.
Banks and other providers may claim to have “no fees” but they could be adding a sneaky mark-up to their exchange rate. This can impact your budget by up to 2% when sending money abroad. On a £50,000 transfer, you could save up to £1,000 with Wise vs your bank.
Wise has built its own payment network that allows customers to send money internationally for less. You’ll get the mid-market exchange rate (close to the one you see on Google) with no hidden markups and low, transparent fees.
| Here’s an overview of the main benefits of using Wise: |
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Sources used in this article:
1. GOV.UK - Payment plans and what you pay
2. GOV.UK - SLC terms and conditions
3. GOV.UK - Update your student loan employment details
4. GOV.UK - Repaying your loan
5. Federal Student Aid: How to prepare for student loan payments - Repaying US StudentAid
6. Aidvantage - Repayment
Sources last checked on: 14-Aug-2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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