Restarting University from Year one - How will that affect student loan?

Restarting first year as I haven't really settled into the university I am currently at and feel a fresh start would be best for me, I will finish my first year as I am doing relatively well on my course. I want to do a year abroad as well within this course. So from 2020/21 I will restart Uni and do a 4 year course.

Main question is how that would affect my student loan? I know they will offer a grace period, but my main question is how much more do I have to pay in terms of repayments once I leave university, compared to if I didn't restart uni?

Thanks

I’m in the same position, any help anyone?

Restarting first year as I haven't really settled into the university I am currently at and feel a fresh start would be best for me, I will finish my first year as I am doing relatively well on my course. I want to do a year abroad as well within this course. So from 2020/21 I will restart Uni and do a 4 year course.

Main question is how that would affect my student loan? I know they will offer a grace period, but my main question is how much more do I have to pay in terms of repayments once I leave university, compared to if I didn't restart uni?

Thanks

You'll be able to get full funding for your new course. The formula they use is:

Length of new course + 1 - years of previous study. So for a 4 year course, 4+1-1 leaves you with 4 years of funding.

Obviously you will have an extra years worth of tuition and maintenance than if you hadn't restarted, however remember that the amount you repay each month once you start working is based on what you earn not what you owe.

Would I be funded for Masters if I do my masters elsewhere? If not, I wouldn’t mind doing an integrated masters if that was the case.

You'll be able to get full funding for your new course. The formula they use is:

Length of new course + 1 - years of previous study. So for a 4 year course, 4+1-1 leaves you with 4 years of funding.

Obviously you will have an extra years worth of tuition and maintenance than if you hadn't restarted, however remember that the amount you repay each month once you start working is based on what you earn not what you owe.

Thanks, that helps alot!

So essentially if I restart, my now increased repayments wouldn't be higher once I start work, just longer as I have more to pay back?

Would I be funded for Masters if I do my masters elsewhere? If not, I wouldn’t mind doing an integrated masters if that was the case.