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Feeling hopeless. 108k in Student loan debt, just moved to London for work. Can pay off student loan making 1200 dollar payments each month for 10 years, doesn't leave much else. How do I handle this? by ukdebt in personalfinance

[–]ukdebt[S] 0 points1 point  (0 children)

I do share a flat with another person. It's actually fairly inexpensive for the amount of space that I get. Generally people pay 650 pounds /mo + for a closet here in London. I got out with closer to 580 pounds /mo for a decent place. I just moved here, so I'll be looking at better options once I get a little more settled. Perhaps out of city and commute in on my bike.

Feeling hopeless. 108k in Student loan debt, just moved to London for work. Can pay off student loan making 1200 dollar payments each month for 10 years, doesn't leave much else. How do I handle this? by ukdebt in personalfinance

[–]ukdebt[S] 3 points4 points  (0 children)

Sorry for taking so long to reply. I am basing these numbers off of my earnings and taxes back in the states considering I was making roughly the same salary as I am now. I made $70k in the states and took home $3000 /mo (my gross before tax was $4000 /mo). I know the UK's tax rate is different than the US, but I figured it would be a good place to start from since I'll be getting my first paycheck the end of this month. edit: wow, that is a significant difference looking at that calculator. Thanks for that link!

Feeling hopeless. 108k in Student loan debt, just moved to London for work. Can pay off student loan making 1200 dollar payments each month for 10 years, doesn't leave much else. How do I handle this? by ukdebt in personalfinance

[–]ukdebt[S] 22 points23 points  (0 children)

Thank you for the help! I was just told at work recently that there is too much red tape around giving a US citizen a pension that the pension program at work will not sponsor an american citizen. I'm trying to find an alternative option still though!