Withdrawing - repayment?

I have finished my first term of uni and I'm planning on withdrawing from my course in January on the first week back. My grant and loan are scheduled to come into my bank account on the first day back but I am not planning on spending any of it. Could I pay this back in one lump sum as soon as I withdraw?

Also when would I be expected to pay back the loan and grant I received for the first term as well as the tuition fees paid for the first term?

Reply 1

Mark Lee - SFE Official Adviser

Official Rep

6

Hi

If you withdraw from your course, have your University send over a change of circumstances to advise of this.

You will then be re-assessed and a letter will be issued to you to advise of your new entitlement.

If you repay the full amounts paid to you in January then you will not have any over payment and the remaining loan balance will be required to be repaid once you are working and earning over £21,000 a year.

You can make lump sum payments by card by calling our repayments department on 0845 073 8891.

Thanks

Reply 2

pinkdaisies

OP

Original post by Mark Lee - SFE Official Adviser

Hi

If you withdraw from your course, have your University send over a change of circumstances to advise of this.

You will then be re-assessed and a letter will be issued to you to advise of your new entitlement.

If you repay the full amounts paid to you in January then you will not have any over payment and the remaining loan balance will be required to be repaid once you are working and earning over £21,000 a year.

You can make lump sum payments by card by calling our repayments department on 0845 073 8891.

Thanks

So to clarify, would I be able to repay the January loan installment in one whole lump straight away instead of paying it once I am working and earning over £21,000?

And what do you mean by my new entitlement?

Withdrawing - repayment?

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