Yep, Me again

Alright, I wasted my first year at Uni. Didn't concentrate at all...failed, Moved from Manchester to Preston. Started a New course, Actually tried and it still looks like I'm going to fail this year.

I'm just wondering, If I do fail. I know student finance won't give me a third chance, I won't be able to afford to pay my way either.
Will I have to repay the £13,000 of debt i've racked up straight away?

I heard If you aren't earning over £15,000 then you don't have to pay it back. But I dont know if this is when you graduate or not. If i fail twice..whats gonna happen? I don't fancy any jail time

Thanks,

Peter

Reply 1

PhoenixFortune

21

Original post by Petertosh23

Alright, I wasted my first year at Uni. Didn't concentrate at all...failed, Moved from Manchester to Preston. Started a New course, Actually tried and it still looks like I'm going to fail this year.

I'm just wondering, If I do fail. I know student finance won't give me a third chance, I won't be able to afford to pay my way either.
Will I have to repay the £13,000 of debt i've racked up straight away?

I heard If you aren't earning over £15,000 then you don't have to pay it back. But I dont know if this is when you graduate or not. If i fail twice..whats gonna happen? I don't fancy any jail time

Thanks,

Peter

You could get two more years finance if you wished to go back, but you would have to pay for the first 1 or 2 years yourself.

You have to pay back any grants/bursaries straight away, but loans only get paid back once you start earning £15k or more.

Reply 2

hypocriticaljap

2

You have the debt whether you graduate or not.

Reply 3

Petertosh23

OP

Grim, So Just to clarify, As soon as I fail this year, they're gonna start asking me for £6000 of grants back? In 1 lump sum?
I understand the loans need to be paid back, Which I'm more than happy to do, It's just finding a job to pay them back first.

My Friend failed his first year and has now just got a job, and hasn't heard anything from them, Is there any reason for this?

Thanks for the replies :smile:

Reply 4

hypocriticaljap

2

You become liable to pay in April of the financial year following the year you leave uni.

Reply 5

Petertosh23

OP

Ooo so my mate might have a little suprise comig then

Thanks for the reply, I best get saving

Reply 6

Money advice

you only pay back the april after you graduate or leave and only then if your income goes over £15,000 - 9% of anything over £15,000.

so if your income if £16,000 you pay 9% of £1,000 - £90 per year.

You dont have to do anything as your employer will make these deductions.

Why have you failed? Do you need some help with your study skills? If so go and talk to someone at your uni now before you do fail. Your pesonal tutor is there to support you. Many people leave uni because they are too worried about asking for help.

If you are allowed to resit next year you can still have a maintenance loan but not a grant. Your uni would not nornally charge you full fees for a repeat year.

Dont put your head in the sand go and talk to someone now.

Reply 7

Petertosh23

OP

I'm confused, If i do fail...Do i have to pay the grants back next April?
I understand the loan process but not the grants.

I'm pretty sure I've failed 1 of my modules and can't progress with just 5 out of 6, Its a web design course and I've failed an Audio module...which is annoying because it is totally irrelevant to the course. Theres noway I can make the 40% pass rate. I will be talking to someone tomorrow though.

Thanks for the help

Yep, Me again

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