Dropping Out in Third Year
Ok, so I'm currently in my third year of a four year languages degree. Basically, I'm on my Year Abroad and hate it. I'm seriously considering dropping out, but would like to know the financial implications.
1. When do the maintenance payments stop? If I dropped out after the next installment of loan came through next week, would they immediately ask for it back, or is it just added to the amount I owe already?
2. I understand that you're entitled to four year's funding for tuition. Since I have not taken out tuition loans on my year abroad, would this mean that I can claim another two year's of tuition loans, or just one?
3. How is this affected by the rise in tuition fees? My new course will charge £9,000 a year in tuition. So if I'm entitled to two more years of tuition loans, are these given at the £9,000 rate, or the £3,000 I was previously paying?
Thanks guys.
1. When do the maintenance payments stop? If I dropped out after the next installment of loan came through next week, would they immediately ask for it back, or is it just added to the amount I owe already?
2. I understand that you're entitled to four year's funding for tuition. Since I have not taken out tuition loans on my year abroad, would this mean that I can claim another two year's of tuition loans, or just one?
3. How is this affected by the rise in tuition fees? My new course will charge £9,000 a year in tuition. So if I'm entitled to two more years of tuition loans, are these given at the £9,000 rate, or the £3,000 I was previously paying?
Thanks guys.
(edited 12 years ago)
1. I'm not sure, they could ask (and have done) for any overpayment immediately.
2. You are not entitled to 4 years funding. You are entitled to: Length of course + 1 year - previous study. Entitlement is counted on previous years study, not previous financing. For example, if you were to start a new 3 year course after dropping out of this one your entitlement would be: New course length (3) + 1 year - previous study (3) = 1 year funding. You would have a maintenance loan only for years 1 and 2, and full funding for year 3.
3. Tuition loans, when entitled, will cover the whole tuition fees for your course. However, as I just stated in point 2. you would have to fund the tuition yourself for years 1 and 2 of a new course (providing it's a 3 year course, if it's a 4 year course you would have to fund years 1, 2 and 3).
2. You are not entitled to 4 years funding. You are entitled to: Length of course + 1 year - previous study. Entitlement is counted on previous years study, not previous financing. For example, if you were to start a new 3 year course after dropping out of this one your entitlement would be: New course length (3) + 1 year - previous study (3) = 1 year funding. You would have a maintenance loan only for years 1 and 2, and full funding for year 3.
3. Tuition loans, when entitled, will cover the whole tuition fees for your course. However, as I just stated in point 2. you would have to fund the tuition yourself for years 1 and 2 of a new course (providing it's a 3 year course, if it's a 4 year course you would have to fund years 1, 2 and 3).
I don't know the financial implications but I'm sure someone else will help with that issue, however I reckon you should stick to the course.
Surely the first 2 years were okay enough for you to continue studying languages? It might be that you're not used to the environment, but I'd recommend sticking to it until you are adamant that it's not for you.
Surely the first 2 years were okay enough for you to continue studying languages? It might be that you're not used to the environment, but I'd recommend sticking to it until you are adamant that it's not for you.
What is it about the year out you don't like?
I know my two housemates have just come back from a year abroad and they absolutely hated it because the uni that they went to out there didn't really look after them well at all. However, they used the year out as an opportunity to travel around Europe in the time they had out from uni.
Now they've got back to uni in the UK everything is fine. Do you not think you can last the next 5/6 months there?
I know my two housemates have just come back from a year abroad and they absolutely hated it because the uni that they went to out there didn't really look after them well at all. However, they used the year out as an opportunity to travel around Europe in the time they had out from uni.
Now they've got back to uni in the UK everything is fine. Do you not think you can last the next 5/6 months there?
Original post by Shani
1. I'm not sure, they could ask (and have done) for any overpayment immediately.
2. You are not entitled to 4 years funding. You are entitled to: Length of course + 1 year - previous study. Entitlement is counted on previous years study, not previous financing. For example, if you were to start a new 3 year course after dropping out of this one your entitlement would be: New course length (3) + 1 year - previous study (3) = 1 year funding. You would have a maintenance loan only for years 1 and 2, and full funding for year 3.
3. Tuition loans, when entitled, will cover the whole tuition fees for your course. However, as I just stated in point 2. you would have to fund the tuition yourself for years 1 and 2 of a new course (providing it's a 3 year course, if it's a 4 year course you would have to fund years 1, 2 and 3).
2. You are not entitled to 4 years funding. You are entitled to: Length of course + 1 year - previous study. Entitlement is counted on previous years study, not previous financing. For example, if you were to start a new 3 year course after dropping out of this one your entitlement would be: New course length (3) + 1 year - previous study (3) = 1 year funding. You would have a maintenance loan only for years 1 and 2, and full funding for year 3.
3. Tuition loans, when entitled, will cover the whole tuition fees for your course. However, as I just stated in point 2. you would have to fund the tuition yourself for years 1 and 2 of a new course (providing it's a 3 year course, if it's a 4 year course you would have to fund years 1, 2 and 3).
She would get funding for all but one year of the new course. Length of course + 1 year - previous study
So if she does a 3 year course, adds a year to get 4 years, then takes away TWO years of previous study (she hasn't taken out a tuition fee loan for this year, as it is a year abroad) and so she's funded for 3 years.
Original post by Lizia
Thanks. So the maintenance loan is not affected by me dropping out? If I start a new course, I can have a maintenance loan for all the years?
I don't know about Maintenance loan, but you will have to fund 1 year of tuition fees.
(edited 12 years ago)
Original post by hassi94
She would get funding for all but one year of the new course. Length of course + 1 year - previous study
So if she does a 3 year course, adds a year to get 4 years, then takes away TWO years of previous study (she hasn't taken out a tuition fee loan for this year, as it is a year abroad) and so she's funded for 3 years.
I don't know about Maintenance loan, but you will have to fund 1 year of tuition fees.
So if she does a 3 year course, adds a year to get 4 years, then takes away TWO years of previous study (she hasn't taken out a tuition fee loan for this year, as it is a year abroad) and so she's funded for 3 years.
I don't know about Maintenance loan, but you will have to fund 1 year of tuition fees.
This is incorrect. Student Finance calculate your entitlement on previous study - not previous years financing. For example, people who have previously studied but took out no loans at all find they are not entitled to funding in the future because of previous study . The fact she has not taken out a tuition loan this year is irrelevant, she has studied, and is receiving a maintenance loan this year.
Original post by Shani
This is incorrect. Student Finance calculate your entitlement on previous study - not previous years financing. For example, people who have previously studied but took out no loans at all find they are not entitled to funding in the future because of previous study . The fact she has not taken out a tuition loan this year is irrelevant, she has studied, and is receiving a maintenance loan this year.
Oh really? Do you have a source? Sorry if I'm wrong, that's what I'd been told.
Original post by Lizia
Now I'm confused, you're contradiction each other 
Just one example:
http://www.reading.ac.uk/life/life-money-previousstudy.aspx
It is a well known fact that SF count previous study and not previous years tuition finance towards eligibility for future financing.
If you have attended a previous course of higher education but withdrew or transferred before receiving a qualification you should be able to apply for a maintenance loan (and, if you qualify, supplementary grants) for the duration of your new course. However, your entitlement to the tuition fee loan and maintenance grant is likely to be reduced. The reduction will depend on the number of academic years in which you attended your previous course (regardless of whether these were complete academic years and whether or not you received student finance for these years).
http://www.reading.ac.uk/life/life-money-previousstudy.aspx
It is a well known fact that SF count previous study and not previous years tuition finance towards eligibility for future financing.
(edited 12 years ago)
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