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Quitting university.. how much will I have to pay back? Watch

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    So, I was thinking about quitting university in January before going back.. i have been thinking about it for a while, and it seems if I don't quit now, I would have to pay back even more money.. I was just wondering how much of an estimate would I have to pay back to the uni?

    Will I have to pay my university the full £9,000 or would it only be like a 1/3 of that?? Do i have to pay it back asap, or when i earn a certain amount? What happens with my accommodation, will the loan still pay for that?? Will i only have to pay the first term of maintenance loan?

    At this moment in time, I wish i never went to university because of the hassle and perhaps I should of took a gap year out to make sure I was positive of even going!..

    I have not yet to ring student finance or Birmingham city university since its new year and doubt they will even be open!..

    Can anyone give me some input if possible please and if anyone has quit uni, how was it like with you? Im guessing its going to be bloody stressful!!!
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    You will have to pay student finance everything that they gave you back.

    As for tution fees I'd imagine but am in no ways certain, that you'd still be liable to pay for it.
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    thanks for this reply - i really appreciate it. I'm just confused because I am sure that they pay tuitition fees every term but I am not too sure :dontknow: Do you know if i will have to pay it back straight away or whether i will have to pay it back after how much i earned? i keep finding different answers on here and the net haha
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    (Original post by Jammie_x)
    thanks for this reply - i really appreciate it. I'm just confused because I am sure that they pay tuitition fees every term but I am not too sure :dontknow: Do you know if i will have to pay it back straight away or whether i will have to pay it back after how much i earned? i keep finding different answers on here and the net haha
    I think you'll just have to pay back just your first semesters tuition fee, unless you leave dropping out too long.

    As for paying back, same conditions apply as to those who graduate.
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    Just ask your university how much they deduct if you drop out by Jan and they'll pass that on to Student Finance.

    Why are you dropping out btw?
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    (Original post by Jammie_x)
    So, I was thinking about quitting university in January before going back.. i have been thinking about it for a while, and it seems if I don't quit now, I would have to pay back even more money.. I was just wondering how much of an estimate would I have to pay back to the uni?

    Will I have to pay my university the full £9,000 or would it only be like a 1/3 of that?? Do i have to pay it back asap, or when i earn a certain amount? What happens with my accommodation, will the loan still pay for that?? Will i only have to pay the first term of maintenance loan?

    At this moment in time, I wish i never went to university because of the hassle and perhaps I should of took a gap year out to make sure I was positive of even going!..

    I have not yet to ring student finance or Birmingham city university since its new year and doubt they will even be open!..

    Can anyone give me some input if possible please and if anyone has quit uni, how was it like with you? Im guessing its going to be bloody stressful!!!
    Generally any money paid (tuition loans, maintenance loans ect) will be paid back the same way as if you graduated (x a month after you earn x amount). Grants might be a bit different and if you have been given any it's best to check with the people who issued them.

    the 9000 isn't paid to universities straight away, if you go on your student finance online account you can get a breakdown of the payments made to your university and when they were/are due to come out, one thing i noticed when setting mine up was that the university got a much larger portion of the tuition loan at the end of the year and a much smaller portion at the beginning which could mean you wont have that much to pay back.
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    Thank you for all your advice! I have been stressing about this all night! I have looked at information and your right I would only have to pay back 25% of tuition fee, however, keep finding different things relating to the loan and grants.. Such as paying back after earning a certain amount but then I seen where payments start next year in April.. The only problem is with accommodation, I looked up mine and I would still have to pay it for whole year.. I know it's my decision to leave, but how does the government and universities expect huge payments like they want?! ._.

    In addition to this, I receive my loan and grant and my accommodation takes out money in the next six days! Since it is New Year's Day today as well, all offices are closed.. If I don't even touch the money, does this mean that I have to pay even more money back because accommodation is going to take money out anyway?!..


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    My sister dropped out of her first year at Christmas, and she had to pay the full tuition fee for some reason (I think?!)

    But I'm hoping I'm wrong for your sake...
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    (Original post by Jammie_x)
    Thank you for all your advice! I have been stressing about this all night! I have looked at information and your right I would only have to pay back 25% of tuition fee, however, keep finding different things relating to the loan and grants.. Such as paying back after earning a certain amount but then I seen where payments start next year in April.. The only problem is with accommodation, I looked up mine and I would still have to pay it for whole year.. I know it's my decision to leave, but how does the government and universities expect huge payments like they want?! ._.

    In addition to this, I receive my loan and grant and my accommodation takes out money in the next six days! Since it is New Year's Day today as well, all offices are closed.. If I don't touch the money, does this mean that I have to pay even more money back because accommodation is going to take money out?!


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    The thing with accommodation is you will have signed something called a tenancy agreement, this is a legally binding document that does for all intents and purposes lock you into paying the full amount for the specified time. One thing you may be able to do is transfer your tenancy agreement to someone else, this usually comes with a small fee (between £50-150 would be the standardish rate). The specifics will be covered in your tenancy agreement but it might be a good idea just to ring the company who own said agreement to find out the details.

    Other than that you will have to pay for your accommodation, it might not be the worse thing if you let you maintenance loan come through and use that to pay the accommodation office as then the loan amount will be paid back using the x amount after x income method rather than having to pay now however i would be careful with the grant money as that is probably subjected to different procedures.

    Did you have a guarantor who signed the tenancy agreement with you? If you do then they really should be informed of the situation as when the accommodation office want money and you can't pay them straight away they will try to get it from them instead.
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    I applied for halls for first year so as far as I know, money goes directly to them.. And yeah signed a contract with them and read it and it does say have to pay for full year, whether I leave or not unless I can get someone else to move in, but I don't think that will happen die to the fact everyone is probably settled in by now..!

    So even though, if maintenance loan takes out money for accommodation, does that mean I will have to perhaps pay the remaining that I own or actually all of it out of my own pocket?? :s and that the additional maintenance loan that has just paid for it will be added to when I earn enough money and can pay it back...


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    You don't have to pay anything if you don't graduate.

    http://www.telegraph.co.uk/education...udy-shows.html

    Students don't repay, graduates do, but only if they earn £21,000+. You repay 9 per cent of everything earned above £21,000 starting the April after graduation (2017 for most). This £21,000 will rise from 2017. Those who never earn over it, never repay.
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    (Original post by Jammie_x)
    So even though, if maintenance loan takes out money for accommodation, does that mean I will have to perhaps pay the remaining that I own or actually all of it out of my own pocket?? :s and that the additional maintenance loan that has just paid for it will be added to when I earn enough money and can pay it back...


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    Yes, unfortunately. You may want to speak to the accommodation people and see if you can negotiate your payment.
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    Taken from the reverse of my notification letter:

    Liability date and % of tuition you will be liable for:

    First day of term 1: 25%
    First Day of term 2: 25%
    First day of term 3: 50%

    But I was pre 2012 entry so it may have changed for those on 9k fees..

    Also not sure what you would be liable for on say day 6 of term 2.... Its not so clear.

    As for accommodation, its a pretty tricky one to negotiate. You entered into a contract for x number of weeks and you are liable for the entire duration (SFE funding or not) unless you can find a student to replace and take up your contract. You say that this would probably not work but there are always students wanting a room etc. so its worth advertising to see. As someone mentioned, they do charge a admin fee for transferring contracts, the amount will differ depending on institution and who the contract is with (ie UNITE or the university etc.) We had someone move out and a new girl move into our flat in week 11 of term 1.

    Most Uni's open on the 3rd from what I've been reading through my PhD applications so I would contact your Uni on the 3rd. If you've got a students union I would contact them as they will know everything specific to your Uni and will be able to help with funding etc. as I would assume that your accommodation installment is due in the next week or so and it may be too late to stop your loan coming in in January so you will have to give that back pretty quickly as I believe its all pro rata. I interrupted my course in may and had to replay the pro rate proportion of my loan back within 14 days. The rest, if I had not returned, would've been paid back when I earn over £18k (I'm the old repayment system)

    Contact your University in the first instance and students union if possible asap.
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    I have a question.. I set up my accommodation for three monthly payments.. The first one was paid while during uni but my second one ain't until 7th January. I have now filled out a withdrawal form from uni but going to take a few days before they send me what I owe them.. In this time, accommodation will also want their 1,000.. Would it be easier for them to just take it out of the maintenance loan??.. Cause right now, I cannot afford to get 1,000 on the next few days tbh.. I can get the last payment but it's this one. My house also has low income and I am
    currently doing my very best to get an apprenticeship or a full time job.. Would it be considered that I don't have to pay back until earn a certain amount of money because of this?? Or if accommodation does take money from Maintenance loan, are they going to ask that back immediately because have quit uni now..? I wouldn't use the rest that's left in the bank but it's just that bit or will they give me a time period where they would like that back after 14 days?? What happens if aint got money?? And also, will this look bad for me in future such as credit checks etc..? Anyone also has any suggestions on where I can advertise my room other than on here and the obvious facebook??...

    God damn university!! All this debt is actually depressing..

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    (Original post by Jammie_x)
    I have a question.. I set up my accommodation for three monthly payments.. The first one was paid while during uni but my second one ain't until 7th January. I have now filled out a withdrawal form from uni but going to take a few days before they send me what I owe them.. In this time, accommodation will also want their 1,000.. Would it be easier for them to just take it out of the maintenance loan??.. Cause right now, I cannot afford to get 1,000 on the next few days tbh.. I can get the last payment but it's this one. My house also has low income and I am
    currently doing my very best to get an apprenticeship or a full time job.. Would it be considered that I don't have to pay back until earn a certain amount of money because of this?? Or if accommodation does take money from Maintenance loan, are they going to ask that back immediately because have quit uni now..? I wouldn't use the rest that's left in the bank but it's just that bit or will they give me a time period where they would like that back after 14 days?? What happens if aint got money?? And also, will this look bad for me in future such as credit checks etc..? Anyone also has any suggestions on where I can advertise my room other than on here and the obvious facebook??...

    God damn university!! All this debt is actually depressing..
    No one on TSR will be able to advise you about the money side of it. Your student Union should have someone available who will know Funding inside and out. Or, ring SFE themselves as they will know.

    As for accommodation, its its Uni managed halls your accommodation office may have a place you can advertise or have students on a list wanting a room so I would contact them.

    Pretty much all Uni's are open and on normal hours now so you will be able to contact them in the morning. As you say, accommodation is due soon so you need to talk to someone about the finance asap.
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    I think i have it mostly sorted now, by later tomorrow or day after. Thank you so much for all your help! i really appreciate it
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    did you have to pay the loan back as soon as you left or did they just tell you to repay the loan once you were earning over 21k i have heard from numerous people they had to pay back their grant but not their loan straight away is this true
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    Hi Jammie,
    Reading your thread has been very informative, my daughter is in the same position, so am interested to know what happened in the end? We feel rather overwhelmed at the moment, at what to do first, so any info would be greatly appreciated.
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    Hi,

    I have recently dropped out of University. I assumed I wouldn't need to repay until I reached the threshold of 21k. I have just had a call from student finance threatening me with debt collection unless I make a payment straight away? They have given me 2 weeks to sort something out but I am seriously panicking. Please help
 
 
 
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