Withdrawing from uni altogether affect on student finance

Lydia.L1998

I want to withdraw from Hope University altogether I have only began my first year which was the 17th Sep but how do I work out how much I will owe student finance in terms of maintenance loan and my student finance?

Reply 1

Clearing and Applications Advisor

Original post by Lydia.L1998

You will only know for sure once you withdraw, Liverpool hope have told SFE that you’re withdrawing and SFE calculate how much you have been overpaid. If you’re withdrawing close to your start date then it’s likely that you would have to repay most of your first instalment “immediately”.

Sfe are very reasonable about arranging a repayment plan for the overpaid loan amounts - they won’t put you in poverty if you can’t afford to repay it immediately.

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Reply 2

Lydia.L1998

Original post by PQ

U mean the whole of the first year instalment that goes towards the uni (£9k)? or the first instalment of my maintenance loan?

Reply 3

Lydia.L1998

Original post by PQ

And also can they not just take the maintenance loan back out of my account because I've only used around £200

Reply 4

Clearing and Applications Advisor

Original post by Lydia.L1998

U mean the whole of the first year instalment that goes towards the uni (£9k)? or the first instalment of my maintenance loan?

Original post by Lydia.L1998

And also can they not just take the maintenance loan back out of my account because I've only used around £200

Both your maintenance and your tuition loan. If you haven’t spent the cash then that will make it easier to arrange repayment.

Just get your withdrawal made official ASAP so that you can find out where you stand

Reply 5

999tigger

Original post by Lydia.L1998

READ WHAT I AM TELLING YOU AND ACT ON IT.

You must withdraw immediately.

To do so involves submitting a withdrawal form, but I looked last night and although there are several forms none of them are for an undergraduate. The LH website is deficient. The only one I could find was for postgrads. You may also need to obtain departmental approval i.e talk to your tutor.

In any event submit the correct form with signatures and dates, then get a stamped receipt. At the latest Friday 28, but preferably today or tomorrow. Do not rely on just e-mail but go into the Uni and do it in person.

https://www.hope.ac.uk/media/studywithus/undergraduate/feesandfinancedocuments/Regulation%20for%20fees%20and%20finance.pdf

[fee liability]
Go to either admissions or your department or the student union advice centre and obtain the correct form. Wherever you pay fees may also have one.

The good news if you withdraw this week then you will avoid fee liability and you will not be charged.

If you have not had student finance for maintenance, then send it them back.

That will mean you will not have had student finance and have your full entitlement intact. You can negotiate if you have the maintenance whether they will allow you to keep any part and whether that counts as student finance. If they do and it counts then return all the money as it could exclude you from a years entitlement even though its just a few hundred. get them to clarify that.

The final issue will be accommodation and whether the uni will release you from it or they will insist you find a replacement.

(edited 5 years ago)

Reply 6

Lydia.L1998

Original post by PQ

I've sent them and email and telephoned them about my withdrawal and they said one the email is sent and received it is processed (obviously it will take time given this time of the year as they're dealing with enrolments as well) but even if I do request my withdrawal to be actioned early in the first year I'll have to pay most of the tuition loan (£9k)?? and the maintenance loan (which I've only spent like £200 out of) ?

Reply 7

Clearing and Applications Advisor

Original post by Lydia.L1998

Your uni will only have received the first instalment of the tuition fee loan (25% - £2,300) - and they only get that if you're still enrolled after 2 weeks of the course. It's important that you read the terms and conditions for your fees that you agreed to when you enrolled - in some cases if SFE take the first instalment back from a university it can turn out that you have agreed to cover that instalment from your own funds. Students who left within the first two weeks have ended up with their universities sending debt collection companies after them because they didn't bother to read the T&Cs that explained they were liable. Luckily for your the T&Cs for your uni state that "If you suspend/withdraw from your course within the first two weeks of the start of the course in the first term, no tuition fees will be charged."

Your maintenance instalment was designed to last you from the start of your course until January. If you leave the course within a couple of weeks then most of it will be classed as "overpaid" and SFE will arrange for you to repay it ASAP.

Any loan that was not overpaid and any tuition fee loan that is paid to your university will be counted as a standard student loan and you'll be asked to start repaying it when you earn over the £25k threshold.