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Overpaying sfe

Currently in my first year after completing foundation year last year. My course should finish in the summer. I really wish to drop out due to personal issues and am worried about owing sfe maintenance loan. What do I do? And if I must pay back is payment plan affordable.

Reply 1

normaw

Clearing and Applications Advisor, Universities Forum Helper

Original post by Sisi1xo

If you can, don't withdraw until a week or so before your next maintenance loan instalment is due and then you won't have to pay anything back at this stage. The loan is calculated to cover you through the holidays too and if you withdraw part way through a term, you need to pay back any overpayment. For example, if you withdraw 10 weeks into a 16-week term, you would need to pay back 6 weeks of loan. If you want to finish the year but not return for second year, don't withdraw until August.

Do think about how you would fund a degree if you wish to return to uni in the future. You will have studied for two years and funding for a new course would be calculated as follows: length of the course + 1 additional year - any previous study.