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How much I can get, how do I get it and what happens to it if I drop out?

Hi, I am a mature student possibly going to Uni this September through clearing and/or possibly next year

I am completely new to Uni and everything it involves and no matter how much I research I still can't find solid evidence, advice or information on a few things so if someone(s) could help please:

scenario A): Lets say I take on a 3 year degree, £9000 a year tuition fees.What am I entitled too in loans? and if you know, Grants and Bursaries. I know a few people who have been to Uni and didn't work at all and managed to get through the 3 years on just their financial help through loans mainly. They didn't live at home and didnt have financial support such as a family giving them money etc, so im curious just how much can/do you get? I intend to work part time but knowing this is something I want to know

scenario B): Same thing, I start a degree, 3 years, £9000 a year tuition, loans the works. What if I then drop out? What happens to my 'debt'. Lets say I only attend Uni for one full year and dont return for the 2nd year (informing the University of course, I dont mean AWOL) Do I then only have to pay back the £9000 for that year plus any loans or will I be charged for the whole degree? (£27,000+!) - following from that point, how do you pay it back? is it the same deal as you have so many years, have to be earning so much first, only 9% a month under the right conditions?

So, in a nutshell -

- What happens if I drop out early (if there is specific differences between durations before dropping out for example whats the difference between dropping out after 3 months, a year, two years etc then please do explain)

- What am I, a mature, independent, living away from home student entitled too in loans studying in England? And any other financial help (figures would help, thanks)

- I may get a spot in Clearing this week (ive already contacted the Uni), am I too late for applying for student finance? or whats the deal

I really can emphasize enough how little I know about finances, student finance and Uni in this regard, its the one field I just cant seem to wrap my head around or make sense off when researching so all and any help is very much so appreciated. Thanks

I'm not 100% sure I want to go to Uni so I'd like to know where I stand should it go wrong. Should I decide to leave in my first year, 2nd year, first semester!

I am strongly consider Uni but its a new thing to me so im still learning alot of what needs to be done and what it will involve

I plan to study in England but I am from Northern Ireland and I am a mature student and independent and living away from home if that helps to know

I have a shot at Clearing this year so the sooner the better if anyone can help please!

Reply 1

Gaming_Hippy

scenario a) the most you can get to is a £9000 tuition loan (paid directly to the uni meaning you dont see it) and a living loan of around £4000 you could have applied for a maintenance grant providing your household income is below £25,000 (i think) however this is the last your of maintenance grant because the government thinks that its a waste of money but never fear now you can get into even more debt by applying for a maintenance loan of £3000 (yet to be confirmed) most of the time this money will not just barely cover the living expense of rent but then you need to eat and drink and buy supply's such toilet paper.

scenario b) you pay back what you loaned regardless of wither you finish or not. the living allowance is paid in 3 instalments so depending on what time you decide to drop out the instalments you have used will require repaying. you can only take out the loans pre year not for the full 3 so ull be paying back that year.

nutshell questions)
dropping out after 3 months would mean you only back the tuition fee and the first instalment of the loan

depending on how long you have been away from home (3 months) you should get the full set £9000 tuition loan £4300 living loan and as of 2016 the maintenance loan

your not to late to apply you can apply up to 9 months into the course however the loans probably won't arrive on time for the first payment of rent which means you have to pay it yourself.