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Withdrawing from university & student loan consequences ?

I'm considering withdrawing from my studies. I was wondering if anyone knows what will happen to my student finance, I would probably attend uni until 2nd semester so I would withdraw around January.
I have both education fees and maintenance loan, if I withdraw do I have to pay everything back at once or am I given time to do so, if yes how long do I have to pay it back? I want to move to Canada and study there, I would go for part time so I can get a job too.
Original post by Aleksa_k
I'm considering withdrawing from my studies. I was wondering if anyone knows what will happen to my student finance, I would probably attend uni until 2nd semester so I would withdraw around January.
I have both education fees and maintenance loan, if I withdraw do I have to pay everything back at once or am I given time to do so, if yes how long do I have to pay it back? I want to move to Canada and study there, I would go for part time so I can get a job too.


Good plan. Then lie about your financial situation and say you're unemployed so you don't have to pay anything back :redface:
you only have to start paying it back once you earn over 21K
Original post by Aleksa_k
I'm considering withdrawing from my studies. I was wondering if anyone knows what will happen to my student finance, I would probably attend uni until 2nd semester so I would withdraw around January.
I have both education fees and maintenance loan, if I withdraw do I have to pay everything back at once or am I given time to do so, if yes how long do I have to pay it back? I want to move to Canada and study there, I would go for part time so I can get a job too.


Hi there I used to work in collections for SLC so hopefully I can help you a bit here.

How it works is if you leave university early you will be responsible for the money you were not entitled to to be paid back immediately. So for example if you left in say February and your money was to do you until April then you would have to pay back March and April immediately. This is both for loans and grants. This is because you are not a student and so not entitled to the money. This is also if you drop out at the end of a year, say May and don't intend to go back. You still have to pay money back immediately as the money was to help you over Summer. As you are no longer a student you're not entitled. This is irregardless if your accommodation is paid annually etc as we got this quite often.

If you do start getting letter through the post saying you owe the money I highly recommend calling them immediately as you can set up a payment plan rather than letting it get to a stage where it shows as a default on your credit score.

Any other questions let me know.
Original post by driftawaay
you only have to start paying it back once you earn over 21K


This is not true if you drop out of your studies. Please read my previous post.
Reply 5
Original post by lyrical_lie
Hi there I used to work in collections for SLC so hopefully I can help you a bit here.

How it works is if you leave university early you will be responsible for the money you were not entitled to to be paid back immediately. So for example if you left in say February and your money was to do you until April then you would have to pay back March and April immediately. This is both for loans and grants. This is because you are not a student and so not entitled to the money. This is also if you drop out at the end of a year, say May and don't intend to go back. You still have to pay money back immediately as the money was to help you over Summer. As you are no longer a student you're not entitled. This is irregardless if your accommodation is paid annually etc as we got this quite often.

If you do start getting letter through the post saying you owe the money I highly recommend calling them immediately as you can set up a payment plan rather than letting it get to a stage where it shows as a default on your credit score.

Any other questions let me know.


What if I go to Canada bit earlier but withdraw in April?

Also what about the loan I was given in previous year? I know I will have to pay it back sooner or later I just don't know which one: do I arrange a payback plan with them and provide them with info on my current job? I probably wouldn't have anything solid until I get open work permit or work permit in Canada so that would probably take me a few months to sort out.

I hope I'm making sense heh ^^;; I guess the bottom line of my question is what happens to my previous loans (tuition and maintenance loan) - obviously I have attended the whole year so I'm guessing I don't "owe" them anything for that year?

So technically if I attend the first half of the year per say until April and withdraw before my next due in payment I don't have to pay back the previous ones straight away but I won't be getting the next one, but if they happen to send it to me anyway I'll have to pay it back straight away?

Also is there a possibility of temporary withdraw/studies interruption? (I study at University of Greenwich)
(edited 8 years ago)
Original post by Aleksa_k
What if I go to Canada bit earlier but withdraw in April?

Also what about the loan I was given in previous year? I know I will have to pay it back sooner or later I just don't know which one: do I arrange a payback plan with them and provide them with info on my current job? I probably wouldn't have anything solid until I get open work permit or work permit in Canada so that would probably take me a few months to sort out.

I hope I'm making sense heh ^^;; I guess the bottom line of my question is what happens to my previous loans (tuition and maintenance loan) - obviously I have attended the whole year so I'm guessing I don't "owe" them anything for that year?

So technically if I attend the first half of the year per say until April and withdraw before my next due in payment I don't have to pay back the previous ones straight away but I won't be getting the next one, but if they happen to send it to me anyway I'll have to pay it back straight away?

Also is there a possibility of temporary withdrawal /studies interruption? (I study at University of Greenwich)

A wee disclaimer I left the position about 18months ago so take everything with a pinch of salt. If you haven't already then please call SLC as things can change.

In theory the full years that you were there you would just pay back as normal when you hit the pay threshold. If they pay you money by accident which happens quite often I would put it in a separate account so you don't accidentally spend it then give them a call and pay it back. It's a pretty crappy thing to be hanging over you. Especially if you're moving abroad keep them informed of you financial situation as I've seen people be hit with huge minimum payments automatically as there was no proof of their earnings or lack of.

I don't see why you're doing half a year surely it would make more sense to leave before beginning a new year for less debt etc.

Not sure on interruption of studies I'd check with your uni for that.
Original post by lyrical_lie
This is not true if you drop out of your studies. Please read my previous post.


Guys what if you have to pay the fees and you choose to withdraw then what happens.

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