[Elizabeth89]

Hi.
I am a first year student taking Psychology at Teesside University who has unfortunately made the wrong choice of course and consequently failed.
My advice has been to withdraw by varies means; for next year I want to study with the Open University (Mathematics) and intent to apply as soon as I withdraw.
However I am worried about what charges I will incur by leaving early.
The financial advisors at my University were unable to give me even an estimate of what I would owe, Student Finance told me they could not give a decisive figure until I actually leave... (she told me she could say it would probably be under £1000....) and it seems that nowhere can I find any information on how much I will owe. The one site I found implied I would owe roughly £500 or less.
Since at the moment I have virtually nothing I really don't want to suddenly be landed with a huge debt of this much, especially since it seems that they can and may demand this over-payment back straightaway!
I am really at a complete and utter loss of what to do, but I really was hoping that there might be someone who has been in a similar situation and can give me an idea of what I might end of owing? And whether I will owe this back immediately?
Thank you,
Elizabeth.
P.S. If it helps, my maintenence payment was £2906, my last date of attendance was the 17/05/12 and I do know that I will owe the tuition loan back regardless but I will not have to make repayments on that until I start earning money so I am not worried about that. Also, I don't have a job or any source of income at the moment either.

[Shani]

Do you have to officially withdraw? If you just chose not to go into 2nd year any payments already made to you would be taken back on the usual terms, after you're earning £15k etc.

If you do choose to officially withdraw before the end there may be a slight overpayment. As they have told you, it's impossible to say how much exactly until you officially withdraw. If there is an overpayment it becomes immediately repayable. SF usually work out a payment plan in these circumstances, and you'd need to pay a fixed sum back every month, regardless of your circumstances.

[Elizabeth89]

Hi,
Thanks,
So if I do not withdraw but wait till August and then chose not to go onto second year I will owe no grant money back?
Do you know what happens if the University automatically withdraw me? My teacher thinks that the Assessment Board will automatically withdraw me - I will receive this decision on the 13th July this year - will I end up still owing the grant money if I am automatically withdrawn?
Elizabeth

[Shani]

(Original post by Elizabeth89)
Hi,
Thanks,
So if I do not withdraw but wait till August and then chose not to go onto second year I will owe no grant money back?
Do you know what happens if the University automatically withdraw me? My teacher thinks that the Assessment Board will automatically withdraw me - I will receive this decision on the 13th July this year - will I end up still owing the grant money if I am automatically withdrawn?
Elizabeth

It would depend on what date you officially get withdrawn and what date your course officially ends.

This late in the year it can't be more than a couple of weeks, so technically (and put simply to give you an example) you'd owe a couple of weeks "pro rata" back (although SF have complicated formulas to work it out).

So, say for instance, your last student finance payment was £1000, and it was supposed to cover 10 weeks, but you withdraw after 8 weeks, you would owe 2 weeks = £200. That is over-simplyfying it and meant just as a guideline example.

[Elizabeth89]

Hi,
Right, I see. I hope you're right, you've put my mind at rest. I think I will wait until they officially withdraw me then, (and maybe perhaps they won't anyway but I think they will) and then I would have left roughly 3 weeks before my course is dated to end if they chose 13th July as my official withdrawal date..
My course scheduled to end on the 1st August.
Thanks a lot, you've been a very big help to me,
Elizabeth.