Leaving university 3rd term

I decided weeks ago that I was going to leave university and reapply to a different university for a different course for a number of reasons. I have just started my 3rd term but obviously want to leave as soon as possible but haven't left yet due to student finance. Which is the best way to go about leaving without any financial implications? I heard if I started term 3 then you usually get to retain your loan and fee loan. Is this true as all my loan goes on rent anyway so I really need it regardless?

Reply 1

balotelli12

Nonsense.
If you are in any year other than your last and leave before September you will be required to return any grant definitely and any loan for maintenance pro rata.
You are funded for 12 months, except for your final year, when you are funded to the end of exams.

Reply 2

abbroseee

This says otherwise? So I wouldn't say it was complete nonsense no.

http://ntu.ac.uk/student_services/fees_finance/changes_affecting_finance/leaving_ntu/index.html

Reply 3

Klix88

Original post by abbroseee

This says otherwise? So I wouldn't say it was complete nonsense no.

http://ntu.ac.uk/student_services/fees_finance/changes_affecting_finance/leaving_ntu/index.html

I'm not sure you're reading it correctly, as it supports what ballotelli suggests. You will have had all of your SF for the year and you will have to repay the loans in full, with a repayment of part of the grant being requested immediately.

Tuition Fee Loans

If a student withdraws on or after the start of term three, they will be entitled to 100% of the tuition fee loan.

You will have had the entire year's Tuition Fee Loan, therefore you will be liable to repay the entire third year's Tuition Fee Loan.

Grants

The Maintenance Grant ..... 9is) paid in respect of 365 days. Where a student withdraws from their course part-way through a payment period, a reassessment of these grants should normally be based on the number of days that the student was undertaking, or can be treated as undertaking, the course from the first day of the academic year to the date of withdrawal. This is likely to result in an overpayment of grant, repayment of which is likely to be requested immediately.

Loans

The Maintenance Loan is paid in respect of each term (a payment period). When a student withdraws from their course their entitlement to a loan will be reassessed, this will be calculated on the basis of ... 100% in the third term. If a student withdraws part way through a payment period then the student's entitlement to the loan amount paid in that period will normally be retained. Once you have left University you only start repaying your loan when your income is above a certain threshold.

So according to that web page, you will be liable to repay the Maintenance Grant for the remainder of the term after you leave, immedately (although you can usually negotiate a repayment plan with SF). The Tuition Fee Loan and Maintenance Loan will be repaid in installments once you earn over the set SF threshold, in the usual way.

Reply 4

abbroseee

Yeaht that's what I thought, I did realise if have to repay obviously but I thought I'd have to repay all of them immediately not just the grant and I don't think people understood that.

Leaving university 3rd term

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