Quitting Uni - Maintenance LOAN

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Lucy54321
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#1
Report Thread starter 6 years ago
#1
I'm halfway through first year and I'm considering dropping out, I hate the course and I hate the university. I'm not going to be leaving until I get a job/apprenticeship.

My question is - what happens with the maintenance loan (not the grant because I didn't apply for that) that I have been paid and the tuition fees that the university has been paid, do I have to pay it back right away and if I can't what happens?
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claireestelle
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#2
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#2
(Original post by Lucy54321)
I'm halfway through first year and I'm considering dropping out, I hate the course and I hate the university. I'm not going to be leaving until I get a job/apprenticeship.

My question is - what happens with the maintenance loan (not the grant because I didn't apply for that) that I have been paid and the tuition fees that the university has been paid, do I have to pay it back right away and if I can't what happens?
They would expect you to pay back whatever you owed for the days after you withdraw back, as for tuition they wont expect anything back. If you can't pay it all back immediately you'd have to arrange a payment plan with student finance
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999tigger
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#3
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#3
(Original post by claireestelle)
They would expect you to pay back whatever you owed for the days after you withdraw back, as for tuition they wont expect anything back. If you can't pay it all back immediately you'd have to arrange a payment plan with student finance
Is that right? the only liability for repayment is the amount borrowed for maintenance?
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RandomGuy19
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#4
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#4
(Original post by Lucy54321)
I'm halfway through first year and I'm considering dropping out, I hate the course and I hate the university. I'm not going to be leaving until I get a job/apprenticeship.

My question is - what happens with the maintenance loan (not the grant because I didn't apply for that) that I have been paid and the tuition fees that the university has been paid, do I have to pay it back right away and if I can't what happens?
I transferred uni's but the university I transferred from originally made a mistake and said I withdrew. So I got a letter about paying back maintenance loan, the amount can differ. They call it an 'overpayment' I was asked to pay back £800 whilst a friend of mine was asked to pay back £450, so it differs. You basically pay back some of the maintenance loan straight away or set up a direct debit and pay of £n amount per month. Hope this helps
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claireestelle
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#5
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#5
(Original post by 999tigger)
Is that right? the only liability for repayment is the amount borrowed for maintenance?
Yes unless you immediately met the 21k threshold .
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999tigger
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#6
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#6
(Original post by claireestelle)
Yes unless you immediately met the 21k threshold .

Sorry not being pedantic, just trying to understand.

I previously thought liability would be to pay back any (Fees and maintenance) money owing on terms to be agreed as and when you met the threshold.

But your version reads as if you leave a course, then the only money you have to pay back is maintenance (subject to the 21k activation) and they write off the fees?
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claireestelle
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#7
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#7
(Original post by 999tigger)
Sorry not being pedantic, just trying to understand.

I previously thought liability would be to pay back any (Fees and maintenance) money owing on terms to be agreed as and when you met the threshold.

But your version reads as if you leave a course, then the only money you have to pay back is maintenance (subject to the 21k activation) and they write off the fees?
Sorry for causing confusion:
If your salary is under 21k at the moment then you have to pay back the overpayment of the maintenance loan, either in a lump sum now or by setting up a repayment plan.
If you salary is over 21k then i believe you'd give back the overpayment and start with the normal repayments for your salary amount.
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Lucy54321
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#8
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#8
what would the overpayment be say if I dropped out now? I was paid around £970 first semester and same second semester for maintenance
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999tigger
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#9
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#9
(Original post by claireestelle)
Sorry for causing confusion:
If your salary is under 21k at the moment then you have to pay back the overpayment of the maintenance loan, either in a lump sum now or by setting up a repayment plan.
If you salary is over 21k then i believe you'd give back the overpayment and start with the normal repayments for your salary amount.
Nope its fine, just trying to get it right in my head in case I advise someone else.

Example I borrow 20k 10 for fees and 10 for mainenance for year 1.

I leave halfway through.

1.They ask me to pay back x amount as the overpayment as a reflection of money they lent which I shouldnt have used i.e 6 months worth of the loan. Whatever figure they decide on.

2.The money from maintenance that i actually spent on maintenance is to be repaid subject to the terms of the 21k rule.

3. The 10k on fees is written off?

My surprise was that they write the fees off, since what do they care what the money was spent on, it's still £. If thats the situation, then thats the situation. just surprised thats all.
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claireestelle
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#10
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#10
(Original post by 999tigger)
Nope its fine, just trying to get it right in my head in case I advise someone else.

Example I borrow 20k 10 for fees and 10 for mainenance for year 1.

I leave halfway through.

1.They ask me to pay back x amount as the overpayment as a reflection of money they lent which I shouldnt have used i.e 6 months worth of the loan. Whatever figure they decide on.

2.The money from maintenance that i actually spent on maintenance is to be repaid subject to the terms of the 21k rule.

3. The 10k on fees is written off?

My surprise was that they write the fees off, since what do they care what the money was spent on, it's still £. If thats the situation, then thats the situation. just surprised thats all.
Oh i see, i m sorry for confusing you, no the tuition isnt written off, i would expect you would owe 50% of it for the time you have spent there this year (as its paid termly to universities), you pay this back to them once you hit the 21k.
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999tigger
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#11
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#11
(Original post by claireestelle)
Oh i see, i m sorry for confusing you, no the tuition isnt written off, i would expect you would owe 50% of it for the time you have spent there this year (as its paid termly to universities), you pay this back to them once you hit the 21k.
NP i feel pednatic, but not trying to be.

So in this situation they are going to ask for:

1. Lump sum as the amount they think is unspent as an overpayment.
2. The spent part of maintenance, but under normal repayment terms i.e the 21k mechanism.
3. Tution fees for money paid already to the uni and the cost of leaving the course, but obviously not for fees the uni is willing to forego due to leaving the course.
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claireestelle
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#12
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#12
(Original post by 999tigger)
NP i feel pednatic, but not trying to be.

So in this situation they are going to ask for:

1. Lump sum as the amount they think is unspent as an overpayment.
2. The spent part of maintenance, but under normal repayment terms i.e the 21k mechanism.
3. Tution fees for money paid already to the uni and the cost of leaving the course, but obviously not for fees the uni is willing to forego due to leaving the course.
Yes Once sfe hear of you withdrawing they should send a letter stating what you owe them too.
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999tigger
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#13
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#13
(Original post by claireestelle)
Yes Once sfe hear of you withdrawing they should send a letter stating what you owe them too.
Thanks we got there. Its important lest it confuse anyone else.
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Lucy54321
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#14
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#14
So basically will the bailiffs come knocking? haha
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999tigger
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#15
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#15
(Original post by Lucy54321)
So basically will the bailiffs come knocking? haha
Sorry Lucy I just noticed it was your OP and most of it has been spent clarifying a point.

You will need to contact the student loans people who cna tell you the amount they think is an overpayment. Its most likely based on the amount of grant they think you ought to have left from the time you leave. If youve not blown your grant then you should have that proportion of grant left.

Example. Borrow 3k @1k a term. You quit at the end of the second term. If you didnt receive the 3rd payment for the final term then id think it woyld be unlikely theyd consider an overpayment had been made. If they had paid you for the 3rd term which you havent started, then I can see them asking for that money back as the overpayment.

If they ask for one and you cant afford, then they will have to wait as you cnat pay what you dont have. They will tell you on the basis of what you earn.

Your fees you will pay back as normal once you start earning over 21k.

Dont worry people drop out all the time and its quite brave to decide its not for me and maybe choose a different course or take a different path.
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Lucy54321
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#16
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#16
Thanks for all the replies, I'm definitely clearer on the subject now!
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999tigger
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#17
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#17
Ok i just talked to my friend who did this. Unemployed they didnt take anything, when he started low paid work £20. Everyones case is different, but just pointing out dont panic and they wont demand what you cnat pay. As a further bit of info, its still possible to go back to uni on another course if you change your mind. A loan of 2k is very low.
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