Postgraduate Finance Switching to Part-Time

Hi. I'm currently completing my masters, but due to health issues I've been advised to go part-time. This is ideal for me and I'd definitely benefit from the extra time, however, if I switch the remainder of my loan would be halved and given to me next year. If this happens I will not be able to pay the rest of my rent for my accommodation for this year. I will likely be remaining at home next year and my tuition will be much lower so I really don't need that much money next year.

Is there any way I can negotiate with Student Finance so I get most of the money now and then a smaller amount just to cover my tuition next year? Or could I wait to recieve my last payment, pay rent and tuition, and then switch to part-time? Or will student finance ask for money back in that situation? I'm really lost with this. I'm also technically eligible for the Disabled Student Allowance now, but I doubt they'd be able to cover this cost. Any advice?

(For context, the loan is from Student Finance Wales)

(edited 1 month ago)

Reply 1

BCU Student Rep

Official Rep

Original post by username6108208

Hi. I'm currently completing my masters, but due to health issues I've been advised to go part-time. This is ideal for me and I'd definitely benefit from the extra time, however, if I switch the remainder of my loan would be halved and given to me next year. If this happens I will not be able to pay the rest of my rent for my accommodation for this year. I will likely be remaining at home next year and my tuition will be much lower so I really don't need that much money next year.
Is there any way I can negotiate with Student Finance so I get most of the money now and then a smaller amount just to cover my tuition next year? Or could I wait to recieve my last payment, pay rent and tuition, and then switch to part-time? Or will student finance ask for money back in that situation? I'm really lost with this. I'm also technically eligible for the Disabled Student Allowance now, but I doubt they'd be able to cover this cost. Any advice?
(For context, the loan is from Student Finance Wales)

Hi @username6108208

I understand your dilemma, and it sounds tough.

I am more familiar with Student Finance England rather than Wales, but I do know that if any changes occur, you must let Student Finance know ASAP. So if you change the course, you have to tell them. It will likely be after you have updated them on your change that you can start asking them more specific questions regarding how and when you will get paid.

It would be pretty risky to wait for the last payment and then switch, hoping that they will let you keep the money. I strongly encourage you to talk to someone over the phone and explain your situation; you could do that before or after you have updated them on your course change.

Good luck!

Anastasia,
BCU Student Rep.