I am in the process of thinking about dropping out. I received both a loan and bursary at the start of term.
Am I right in thinking the loan will be added to my debt, and I pay that back when I start earning over 21k, and the bursary I will have to pay back straight away?
I will only have to pay back the bursary amount I was given for this term, correct? (£1200, I think) as opposed to a years amount? I've not spent any of the bursary, so this shouldn't be a problem.
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Dropping out... Loan and Bursary watch
- Thread Starter
- 19-10-2015 22:22
Offline22ReputationRep:Very Important Poster
- Very Important Poster
- 20-10-2015 10:59
You need to check about the bursary with the uni.
- 20-10-2015 12:05
You're paid your loan in advance. If you drop out mid-term, you will need to immediately repay any of your loan which was supposed to cover you from the date you leave, to the date of the next payment. The loan amount which covers you from the start of term to the date you drop out, will be repayable when you star earning over the threshold.
As OU Student says, you will need to check with the uni about your bursary. Each uni can set its own terms and conditions.