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Leaving PhD - loan repayments

Hi,

I am currently a PhD student in my first year of study. I think I will likely leave my studies at the end of this year but am concerned about repayment of my PhD loan and am struggling to find advice that is not about paying back UG loans if you leave.

My question is, given the academic year runs all the way through the summer for PhD students, at what point of dropping out would I have to pay back the loan upfront? (I'm not talking about adding on to my existing loan and paying back monthly but rather, would sfe expect the lump sum back straight away)? If I were to leave in June after the end of the summer term for taught students, would I then repay the loan monthly as per my UG and PGT loans or would I need to continue until September, given that PhD students are expected to work through the summer?

Essentially I'm worried about a big bill for immediate payment arriving at my door when I have needed the money to live off.

Thanks

(edited 3 years ago)

Reply 1

SFE Isaac

Official Rep

Original post by Eroper23

Hi there,

If you've received a payment and your withdrawal date was after the payment date that amount will be added to your balance as normal and repaid once you enter repayment/earn over the threshold. If your withdrawal date was before your payment date you'll be required to repay this amount immediately.
Thanks, Isaac.