if you drop do you repay you loans and fees back the same way as if you had finished the degree?
also do you pay fees back (other than maintenance) normally if you drop out mid year?)
What happens to student loan repayment if you drop out after 2nd year? Watch
Last edited by Worms; 03-07-2017 at 16:16.
- 16-01-2016 00:00
- 16-01-2016 00:04
Any loans taken out and transferred to their recipient will be liable for repayment. For example, if I left in the beginning few weeks of 2nd year, you'd be liable for all 1st year fees and the first installment you received of the second year term. You will have to pay back any maintenance loans and tuition loans. Also consider if you have took out private loans or any overdrafts as these will naturally have to be repaid. Also consider any money you owe will also be subject to interest of up to 3% plus ROI(inflation) on top so it could hover realistically from 3% right now to 5% in a few years time if inflation goes back to 2% and above.
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- 16-01-2016 13:18
Your understanding is correct. Basically, anything you took out this term, you pay back now. Everything else, you pay back under normal terms.