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Failing first year. Do I have to pay back to student finance?

I took the wrong course but had to stick through it due to the money I get from student finance being the only way I can currently pay for a roof over my head, I'm currently failing however and not sure if I will get a pass in my subjects. I have already applied for a different course in a different university, however I'm unsure that if I fail my current course will I have to pay back the money I received from student finance.

Does anyone have an answer to this?

Reply 1

Klix88

Original post by Silvy27

Yes, you will always have to pay back SF loans.

As long as you complete your first year (even if you fail it), then officially drop out just before the start of your second year, then you will make the repayments in small instalments from your wages once you earn over £21,000. You won't have to repay anything until you earn over that threshold.

Reply 2

Silvy27

Original post by Klix88

I'm sorry, I don't think I was very clear in what I meant.
I mean would I have to pay back as if I had dropped out? I know of people who dropped out and had to pay back part of what they they received from student finance instantly, I'm unsure if I would have to do the same thing.

Reply 3

gulbenkian02

Original post by Silvy27

You'll have to pay back anything you've received the 'normal' way you'd pay it back i.e. after earning £21k etc. BUT if you drop out of the University during the summer after you do your exams, you may have some overpayments from student finance that you'd have to pay back immediately (either upfront in full or in monthly instalments) but that's just if you've been overpaid, you may not have.

Reply 4

Silvy27

Original post by gulbenkian02

Does failing have any kind of effect on this?

Reply 5

Stickman

You pay back whatever you have borrowed til date; and the tuition fees given to your university. You need to contact them to know how much exactly you pay but one of my friends dropped out in November and he had something like £1000 to pay back.

Reply 6

gulbenkian02

Original post by Silvy27

Does failing have any kind of effect on this?

If you fail and switch courses, I don't think you'll have anything to repay, but you should ask Student Finance just in case. You shouldn't worry too much about overpayments as you can pay as little as £1 per week to repay it, so it's not a big deal. I'm paying £10 a week to repay a £1000+ overpayment haha!

Reply 7

Silvy27

Original post by gulbenkian02

Thank you so much! This is a big stress relief off my shoulders to know that!

Reply 8

gulbenkian02

Original post by Silvy27

Thank you so much! This is a big stress relief off my shoulders to know that!

I cried when I saw I had to repay £1000 in 7 days :laugh:

Reply 9

Tiger Rag

I have been in the same situation:
I failed my course and knew I was going to (or rather, got 90 / 120 credits) and dropped out after the first year. I pay back my loan in the same way that everyone else does.

Basically, if you stay and complete the first year, you pay back your loan in the same way as everyone else.

Reply 10

Klix88

Original post by Silvy27

Does failing have any kind of effect on this?

No - as above, all that matters is that you have dropped out right at the end of the year. Which will be *after* the summer, as your third SF instalment covers you after the end of term and up to the beginning of your second year.

If you drop out during the summer, you may be asked to immediately repay the SF Maintenance Loan/Geant amounts which would cover the period from the date of your withdrawal to the day before your second year starts. The date of your withdrawal is therefore important. Leave it as late as possible.

Reply 11

Pao_

Hi , I am in the same situation.
I failed one module in first semester, I'm not interested in this course anymore. I applied to another uni to another course and they gave me an unconditional offer.

now what I am unsure is if I don't pass this year , would it be classify as incomplete year? someone said to me I would be best to complete the year so in that case I don't have to pay any overpayment or anything like that.

I'm really confused.