Dropping out/deferring out of Uni - NATWEST overdraft query

Hi, I am a second year undergraduate History BA student just about to finish my second year (1 exam left).

Basically, I don't feel I am in the correct mood to to carry on with this course in my 3rd year (yes, I know I am two-thirds of the way done). I have lost interest in it completely - well, I have felt this way since the first year.

Next year the modules aren't exactly exciting and are making the situation a whole lot worse.

I have only taken out two years worth of tuition fees and no maintenance loans. I applied for a maintenance loan in my third year but I can cancel this before the third year if I start.
With the Tuition fee (provided by the Student Loan Comapny) do I only have to pay back the loans when I earn over £15,000 a year? Im pretty sure this is the case but would appreciate someone verifying this.

The main query is my Natwest Student Overdraft. Im about £1000 into it. If I drop out of University do I have to pay this back instantly or am I allowed some time to pay it back without being charged interest?

Cheers guys,
Dan

Reply 1

PlanetTea

I think the best people to talk to about this is your bank. What you need to do is go into your local Natwest bank, ask to book an appointment regarding your student account for as soon as possible (they may be able to see you straight away). Then sit down with someone who knows what they're talking about and ask them straight. Perhaps you will be able to work out a payment scheme with the bank or perhaps you are automatically given a certain about of time to pay it back, I don't know. But they're the people you need to discuss your options with. Good luck, I really hope everything works out well for you.

Reply 2

georgia

Well after you graduate you have various timescales to work within re paying off the overdraft...I'm guessing they'll do something similar for you now.

Reply 3

Emmal2000

Hey! did you find out? I am a term into my first year and literally cant afford to continue it any longer. I am in enough of a financial mess already!!

Reply 4

Reality Check

Original post by Emmal2000

Hey! did you find out? I am a term into my first year and literally cant afford to continue it any longer. I am in enough of a financial mess already!!

This thread is nine years old... The OP is now earning £219,000 p.a. at BP and worries about overdrafts are long gone.

Start another thread if you want to ask a question...