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Student Finance after dropping out watch

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    Hi,
    I was a student at university for one whole semester and then I interrupted my studies on the 12th December which was my last day in higher education. However, as it took a while for this to be processed on the Student Finance records, I was still given a maintenance loan of £2084.28 and a grant of £1129, which I received on the 11th January. I still have this money sitting in my bank account. Correct me if I'm wrong but my understanding is that I can let the 2084.28 sit in my account, as that I will pay after I graduate once I have a job? However I have to pay the 1129 back fully or is it only some of that amount I have to pay back?
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    (Original post by tabmax22)
    Hi,
    I was a student at university for one whole semester and then I interrupted my studies on the 12th December which was my last day in higher education. However, as it took a while for this to be processed on the Student Finance records, I was still given a maintenance loan of £2084.28 and a grant of £1129, which I received on the 11th January. I still have this money sitting in my bank account. Correct me if I'm wrong but my understanding is that I can let the 2084.28 sit in my account, as that I will pay after I graduate once I have a job? However I have to pay the 1129 back fully or is it only some of that amount I have to pay back?
    You'll probably have to pay back all or part of both payments (as they're to cover your costs since Christmas and you haven't been a student in that time).

    SLC will likely be in touch with you soon to ask for the money back (and will specify how much you need to repay). So don't spend any of the cash until you have confirmation from them!

    The loans/tuition fees you received for your first semester will only be repayable in the April after you left...IF you're earning over the £21k threshold.
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    Hi tabmax22

    Any over-payment will be asked to be paid back. You will receive an entitlement letter letting you know what you were entitled to for the time you were there.
    Our collections departments will usually write to you to contact them about repaying any grant and/or loan over-payment.

    Thanks
 
 
 
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