The Student Loans Company (SLC) is attempting to trace more than 121,000 borrowers living overseas who collectively owe around £3.4 billion ($4.57 billion) in outstanding student loan balances, according to newly released figures. The government-owned organisation says it is working to locate former students whose current income and residency details are unknown, making it difficult to determine whether repayments are due.
Unlike graduates living in the UK, whose repayments are generally collected automatically through the tax system, overseas borrowers are required to keep the SLC informed of their income and location. Without that information, the organisation cannot accurately assess repayment obligations.
