[Eloise 1987]

I am considering on whether to enroll on an Open University course to study and hopefully gain a degree in Health and social care (hope to start Feb 2013). The OU appeals to me due to there being no entry requirements ( I lack valuable qualifications) and it will allow me to study in the comfort of my own home or on my travels.

Before I decide enroll on a course I need to know the basics, I am new to how university works, I have a few question to ask you please?

Student Loan

1) I will need financial support, i.e. student loan, 1A)
How do I go about applying for a loan, online, by phone, internet??? (1B) How long does it usually take from applying for a loan to getting it? (1C) Will the student loan be paid directly into my account or to the university?(1D) I plan on starting in February 2013, when shall I apply for a loan? (1E) The overall cost of study at the Open university is £15,000, will I be charged any interest on the student loan or will I just pay back the £15,000? (1F) Do I need to provide evidence of benefits , the money I am on when applying for a loan to prove my eligibility? (1G) If I drop out, when will I have to pay back for any of the loan I have used?


Failing an exam

(2A)There are 3 stages to my degree, What happens if after sitting my exam from finishing stage 1 I fail? what would happen , would I be thrown off the course, would I have to resit an exam, if so what would happen if I failed the resit?



There are many more questions I could ask you but my mind has just gone blank, I am relatively new to all of this so please help, if you can

[Kate.]

Well, the loan system at the OU is new - this will be the first year it will have been used! So I'm not sure how accurately people could answer some questions, like how long the application takes.

First, read the information on the OU website, here.

Secondly, I can answer a couple of specifics:
1C - loan goes directly to the university.
1E - I believe interest starts accruing from when you get your first loan payment (or when the loan is first paid to the university - unsure if this will be the start date of your course, or a bit later).
1G - if it is the same as a normal brick university, then it's likely you would only be required to pay it back instantly if you dropped out part-way through a module. I'm not 100% on that though.


Best bet is to give them a call and have a chat. As the OU is changing from being more 'modular' to being much more focused on full degree pathways, a lot of current students probably won't know much about the new system (well, I know I don't!).

[Eloise 1987]

(Original post by Kate.)
Well, the loan system at the OU is new - this will be the first year it will have been used! So I'm not sure how accurately people could answer some questions, like how long the application takes.

First, read the information on the OU website, here.

Secondly, I can answer a couple of specifics:
1C - loan goes directly to the university.
1E - I believe interest starts accruing from when you get your first loan payment (or when the loan is first paid to the university - unsure if this will be the start date of your course, or a bit later).
1G - if it is the same as a normal brick university, then it's likely you would only be required to pay it back instantly if you dropped out part-way through a module. I'm not 100% on that though.


Best bet is to give them a call and have a chat. As the OU is changing from being more 'modular' to being much more focused on full degree pathways, a lot of current students probably won't know much about the new system (well, I know I don't!).

So how did people pay for their study then before student loans, did they pay up front?

If I study £15000 at uni, when I start repayments It'll be more than £15000?

When you say if I dropped out I'd prob have to pay back instantly, does that count even if I earn less than £21,000? or if I failed exams and was kicked off course?


Thanks again

[Kate.]

(Original post by Eloise 1987)
So how did people pay for their study then before student loans, did they pay up front?

If I study £15000 at uni, when I start repayments It'll be more than £15000?

When you say if I dropped out I'd prob have to pay back instantly, does that count even if I earn less than £21,000? or if I failed exams and was kicked off course?


Thanks again

The fees changed this year - they were far cheaper before, but loans weren't available. There was quite a lot of support in the form of a non-repayable fee grant for those on low incomes, but if you didn't get a fee grant and couldn't afford to pay the fees in one go they also have an option called OUSBA where you paid the fees over monthly payments (6-12 payments I think, but I never looked into that as I never needed it). I believe OUSBA is still available for those who aren't eligible for the new tuition fee loan.

Yes, the repayments will be more than £15,000, the same as at a normal brick university. My student loan (1 year at full time university before I started the OU) is bigger now than when I left university, even though I have been making repayments lol. It's not a big deal though, the repayments are small.

I'm not 100% sure about the situations in which you may need to pay back the loan, so I'd definitely wait to speak to someone at the OU about it.

However I don't think you'd get kicked off the course for failing a module once, you should have the option to retake! But again, as the whole format/organisation of the OU seems to be changing for new students, this is something you'd need to talk to the OU about.

[Eloise 1987]

(Original post by Kate.)
The fees changed this year - they were far cheaper before, but loans weren't available. There was quite a lot of support in the form of a non-repayable fee grant for those on low incomes, but if you didn't get a fee grant and couldn't afford to pay the fees in one go they also have an option called OUSBA where you paid the fees over monthly payments (6-12 payments I think, but I never looked into that as I never needed it). I believe OUSBA is still available for those who aren't eligible for the new tuition fee loan.

Yes, the repayments will be more than £15,000, the same as at a normal brick university. My student loan (1 year at full time university before I started the OU) is bigger now than when I left university, even though I have been making repayments lol. It's not a big deal though, the repayments are small.

I'm not 100% sure about the situations in which you may need to pay back the loan, so I'd definitely wait to speak to someone at the OU about it.

However I don't think you'd get kicked off the course for failing a module once, you should have the option to retake! But again, as the whole format/organisation of the OU seems to be changing for new students, this is something you'd need to talk to the OU about.

What sort of interest rate are we talking here, big, small?? for example if I graduate Uni with £15000 of debt, after 20 years if I DON'T PAY ANYTHING BACK AT ALL, WHAT WOULD YOU EXPECT THE £15000 TO RISE TO?

[WilliamG]

(Original post by Eloise 1987)
What sort of interest rate are we talking here, big, small?? for example if I graduate Uni with £15000 of debt, after 20 years if I DON'T PAY ANYTHING BACK AT ALL, WHAT WOULD YOU EXPECT THE £15000 TO RISE TO?

you have to start paying back once you start earning more than £21k. For more info on how much you pay back etc read:
http://www.direct.gov.uk/en/Educatio...ce/DG_10034866

[Eloise 1987]

(Original post by WilliamG)
you have to start paying back once you start earning more than £21k. For more info on how much you pay back etc read:
http://www.direct.gov.uk/en/Educatio...ce/DG_10034866

I know but if I dropped out of University would I have to pay back instantly, before I earn over £21,000 or just once I earn £21,000 +?

[Dubfish]

[QUOTE=Eloise 1987;38385912]The OU appeals to me due to there being no entry requirements ( I lack valuable qualifications) and it will allow me to study in the comfort of my own home or on my travels.

Depending on your age and possibly other personal circumstances you may not need to the usual entry requirements to enter and brick and mortar uni.

How old are you? do you suffer from any disability? Universities now have quotas to fill when it comes to minorities.

[Eloise 1987]

[QUOTE=Dubfish;38386873]

(Original post by Eloise 1987)
The OU appeals to me due to there being no entry requirements ( I lack valuable qualifications) and it will allow me to study in the comfort of my own home or on my travels.

Depending on your age and possibly other personal circumstances you may not need to the usual entry requirements to enter and brick and mortar uni.

How old are you? do you suffer from any disability? Universities now have quotas to fill when it comes to minorities.

20, I have a moderate learning disabilty

[Dubfish]

Try approaching a university in person (that's how I got on my degree. Hadn't studied for 20yrs and only had GCSEs). I graduated this year. I looked for which course I was interested in, found out the name of the award leader, called him and asked if I could go and see him. I told him why I wanted to do the course and he said on the spot that I should apply through UCAS and (when refused) go back to see him. He signed off on me starting the course. Obviously that depends on the course you're going for but there is a chance if you show initiative.

Secondly, if you suffer from a learning disability, you will be entitled to extra help. There were a few people with dyslexia that I knew were given a laptop, including software that reads any text aloud for you. They were provided with notetakers, who accompanied them to lectures and...well took notes . They really did get a lot of help and I doubt you'd get the same from the OU.

Give it a try, you've got nothing to lose. If I'd have listened in 2009 when the admin staff told me I'd have no chance, I'd have gotten nowhere (I even got to spend my second year in a university in Sweden as an exchange student), go for it, and good luck. It's hard work but totally worth it.

EDIT: don't be embarrassed to mention or even exaggerate your learning difficulty. They really have to reach quotas and if that's what gets your foot in the door then why not?

EDIT 2: In answer to the other question, if you take the loans, even if you don't complete the course, you will only pay back when you reach the level of earnings required.

You'll get the grants/loans at the beginning of each term too, so if you leave before christmas, you won't get the rest.

[Eloise 1987]

(Original post by Dubfish)
Try approaching a university in person (that's how I got on my degree. Hadn't studied for 20yrs and only had GCSEs). I graduated this year. I looked for which course I was interested in, found out the name of the award leader, called him and asked if I could go and see him. I told him why I wanted to do the course and he said on the spot that I should apply through UCAS and (when refused) go back to see him. He signed off on me starting the course. Obviously that depends on the course you're going for but there is a chance if you show initiative.

Secondly, if you suffer from a learning disability, you will be entitled to extra help. There were a few people with dyslexia that I knew were given a laptop, including software that reads any text aloud for you. They were provided with notetakers, who accompanied them to lectures and...well took notes . They really did get a lot of help and I doubt you'd get the same from the OU.

Give it a try, you've got nothing to lose. If I'd have listened in 2009 when the admin staff told me I'd have no chance, I'd have gotten nowhere (I even got to spend my second year in a university in Sweden as an exchange student), go for it, and good luck. It's hard work but totally worth it.

EDIT: don't be embarrassed to mention or even exaggerate your learning difficulty. They really have to reach quotas and if that's what gets your foot in the door then why not?

EDIT 2: In answer to the other question, if you take the loans, even if you don't complete the course, you will only pay back when you reach the level of earnings required.

You'll get the grants/loans at the beginning of each term too, so if you leave before christmas, you won't get the rest.

to be honest I'd rather study at the open university, In an actual university campus there will be many people in the classes, I'd get nervous and doubt I'd be able to concentrate properly therefore fear of failing.

You say people were given laptops, were they actually to keep or just to borrow whilst studying the degree and then have to be given back? I have dyspraxia but my reading and writing skills are superb


I would like to know how much interest is charged, I don't want to graduate with £15000 of debt that will increase to £30,000 if I cant pay back because I may earn below £21000.

[Norton1]

(Original post by Eloise 1987)
I would like to know how much interest is charged, I don't want to graduate with £15000 of debt that will increase to £30,000 if I cant pay back because I may earn below £21000.

After 30 years any remaining debt is written off, and if you're earning below the threshold it's a purely notional debt anyway. Even if you earn above the threshold it's only 9% of your earnings anyway. For example, if you earn £22,000 you'd only be paying back £90 a year.

[anna_ready]

Hope for the best.
Why are you getting worry about the exams before time.

[Eloise 1987]

(Original post by Norton1)
After 30 years any remaining debt is written off, and if you're earning below the threshold it's a purely notional debt anyway. Even if you earn above the threshold it's only 9% of your earnings anyway. For example, if you earn £22,000 you'd only be paying back £90 a year.

£90 a year interest?

(Original post by anna_ready)
Hope for the best.
Why are you getting worry about the exams before time.

I haven't even started exams yet , not even studying at the moment

[Norton1]

(Original post by Eloise 1987)
£90 a year interest?

No that would be your repayments. Your interest is also dependent on income (probably won't format all that well);

Your income per year Interest rate on your loan
while you're studying rate of inflation plus 3 per cent
£21,000 or less rate of inflation
£21,000 - 41,000 varies between the rate of inflation and the rate of
inflation plus 3 per cent depending on your income
£41,000 or more rate of inflation plus 3 per cent

http://www.direct.gov.uk/en/educatio...98/dg_10034866

[Eloise 1987]

(Original post by Norton1)
No that would be your repayments. Your interest is also dependent on income (probably won't format all that well);



http://www.direct.gov.uk/en/educatio...98/dg_10034866

So your saying if I earn over £22,000 I'd only pay back £90 per year ( £7.50 per month?) that cant be right , I think more like £90 per month

[Norton1]

(Original post by Eloise 1987)
So your saying if I earn over £22,000 I'd only pay back £90 per year ( £7.50 per month?) that cant be right , I think more like £90 per month

If you earned £22,000 per year then yes you would pay £90 a year.

It is 9% of your earnings over £21,000.

So in this case the sum would be £22,000 - £21,000 = £1000.

9% of £1000 is £90. Hence, you would repay £90.

To be repaying £90 a month (i.e. £1080 a year) you would need to be earning something over £30,000.

[Eloise 1987]

(Original post by Norton1)
If you earned £22,000 per year then yes you would pay £90 a year.

It is 9% of your earnings over £21,000.

So in this case the sum would be £22,000 - £21,000 = £1000.

9% of £1000 is £90. Hence, you would repay £90.

To be repaying £90 a month (i.e. £1080 a year) you would need to be earning something over £30,000.

I'll be studying at the Open University, will leave with £15,000 debt, please, what would that be approx per year if earning under £21,000?

[Norton1]

(Original post by Eloise 1987)
I'll be studying at the Open University, will leave with £15,000 debt, please, what would that be approx per year if earning under £21,000?

Assuming it's funded in the normal way with a student loan then £0. Nothing, nada, zip.

It would grow by a few percent each year with interest.

[Eloise 1987]

(Original post by Norton1)
Assuming it's funded in the normal way with a student loan then £0. Nothing, nada, zip.

It would grow by a few percent each year with interest.

sorry I meant if earning over £21,000 (and yes, it is funded the same way)

out of interest, is interst still incurred if I'm earning under 21000?