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Dropping out in the 2nd term + Student Finance???

Hi,
Im currently a first year student doing a joint honours degree in Film and Creative Writing (CW). Film did not turn out to be what i expected it to and I'm just not happy at all. I have no idea of what i want to do in the future and see no point in continuing to study film when it makes me feel like s*** when i just think about it. I have 3 classes for film in one day per week and have missed all 3 days since this term started! I want to continue studying CW but I know i can't drop Film and continue doing CW for the rest of this term and summer term.

Although I am passing both classes I feel like i put more effort into my work for film because i hate it so it requires more concentration and this has held me back from doing better in CW. With all this in mind I think that its best for me to drop out and apply to do a single honours in Creative Writing for sep 2016.

I am really confused on how my repayment for student finance will work. I know i pay back the tuition fee when i start earning a certain amount. I recieved a Grant which i know that i dont pay back. I was supposed to live out but ended up staying at home and never updated that on my student finance. So I recieved a maintanence loan of about £2k last term and this term. I spent all my money last term and have spent within the range of my Grant only this term.

If i drop out during this term or at the end of this term which is the end of March, Will I have to pay back the Grant or the Mantanance Loan for either last term or this term...or even both??

Reply 1

Mark Lee - SFE Official Adviser

Official Rep

Hi nikki.4

If the you withdraw from your studies the university will inform us of this by sending an electronic change of circumstances.

Once processed, all future payments will be cancelled and your entitlement will be re-calculated which may result in a loan and/or grant overpayment.

In this instance the customer would be contacted by the Student Loans Company's collections department to make arrangements to repay.

You will have used your gift year but will be able to apply to do another full course. New students in 2016/2017 will not be eligible to apply for the maintenance grant.

Thanks

Reply 2

nikki.4

Original post by Mark Lee - SFE Official Adviser

Thanks for the reply Mark.

I'm a bit confused with the second part of what you have said. I understand I won't get paid for the following term if I withdraw at the end of spring. But where you have written "your entitlement will be re-calculated which may result in a loan and/or grant overpayment", I don't quite get what is being calculated or what would be owed.

I'd be grateful if you could further explain this.

Thank you

(edited 8 years ago)

Reply 3

Mark Lee - SFE Official Adviser

Official Rep

Hi again

When you receive your payment in January, this is calculated to last you until the next payment in April (approx). If you leave for example in February, we will calculate how much of the January payment you would have been entitled to up until the date you left in February. Any of this payment you were not entitled to would be required to be paid back. If you were continuing on your course it would likely be deducted from your next year.

Thanks