Turn on thread page Beta
    • Thread Starter
    Offline

    0
    ReputationRep:
    ghgf
    • Very Important Poster
    Online

    19
    Very Important Poster
    yes ofc you still have to pay becayse the money has been spent. You need to inform sfe and they may ask for some of the money back as an overpayment if you have left before the end of the course.

    repayments only begin once you are over £21,000. They then decide that 9% of the excess will be paid per annum.

    As corrected by mackem- changed funding remaining to course length left as youve used the spare year.
    Offline

    1
    ReputationRep:
    (Original post by JustBennify)
    Hello,

    Ive decided uni isn't for me

    I'm not interested in attending second year but have made a decision of going out into the big world and getting a job after these upcoming exams.

    Could someone please advise me whether or not I will just have to pay my SAAS back for first year when I earn over the threshold? Not all of it in one go after I withdraw?

    It's a big decision but it's definielty the right one for me.

    Many thanks,
    B
    youc an negotiate a really good payment plan with them, don't worry
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Venusian Visitor)
    youc an negotiate a really good payment plan with them, don't worry
    I would have completed the first year though, not withdrawing from the course early.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by 999tigger)
    yes ofc you still have to pay becayse the money has been spent. You need to inform sfe and they may ask for some of the money back as an overpayment if you have left before the end of the course.

    repayments only begin once you are over £21,000. They then decide that 9% of the excess will be paid per annum.

    You mau change your mind about Uni at a later date and you will still have 3 years of funding intact.
    I haven't left the course yet, waiting for my exams to be finished with. My intention is basically, not enrolling for second year.

    Will my Current SAAS debt be re-paid in the usual fashion? They wouldn't have over paid me as I have attended the full year.
    Offline

    15
    ReputationRep:
    (Original post by JustBennify)
    Hello,

    Ive decided uni isn't for me

    I'm not interested in attending second year but have made a decision of going out into the big world and getting a job after these upcoming exams.

    Could someone please advise me whether or not I will just have to pay my SAAS back for first year when I earn over the threshold? Not all of it in one go after I withdraw?

    It's a big decision but it's definielty the right one for me.

    Many thanks,
    B
    If you withdraw part way through the year then you will need to make an immediate repayment of a certain portion of the amount they have given you. How much would depend on how much you have received and at what stage of the year you have withdrawn.

    However if you complete your entire first year of study and then withdraw prior to the start of your second year you will not have to pay back anything you have received immediately and your debt will be handled in the same way it would be for any graduate. As in you will pay it back over time once you are earning over the repayment threshold.
    Offline

    15
    ReputationRep:
    (Original post by 999tigger)
    yes ofc you still have to pay becayse the money has been spent. You need to inform sfe and they may ask for some of the money back as an overpayment if you have left before the end of the course.

    repayments only begin once you are over £21,000. They then decide that 9% of the excess will be paid per annum.

    You mau change your mind about Uni at a later date and you will still have 3 years of funding intact.
    Actually they still have up to 4 years of funding left. If they were to apply again for a 4 year MSC/MEng or some other integrated masters course they would qualify to be funded for all 4 years.

    Student finance make funding available for the length of your degree plus one gift year, so if you withdraw after one year of your first degree you will still be eligible for funding in each year of your new degree regardless of whether it's a 3 years Bachelors or a 4 year Masters.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by mackemforever)
    If you withdraw part way through the year then you will need to make an immediate repayment of a certain portion of the amount they have given you. How much would depend on how much you have received and at what stage of the year you have withdrawn.

    However if you complete your entire first year of study and then withdraw prior to the start of your second year you will not have to pay back anything you have received immediately and your debt will be handled in the same way it would be for any graduate. As in you will pay it back over time once you are earning over the repayment threshold.
    Thank you. That clears everything up, do you know what constitutes the 'entire year'? If I withdrew in June for example, would that be classed as leaving early even though my last exam is in May?
    • Very Important Poster
    Online

    19
    Very Important Poster
    (Original post by JustBennify)
    I haven't left the course yet, waiting for my exams to be finished with. My intention is basically, not enrolling for second year.

    Will my Current SAAS debt be re-paid in the usual fashion? They wouldn't have over paid me as I have attended the full year.
    If youve run it ill the end of the year thats fine. its smart to sit your exams.
    You should tell them you intend to leave, so they know and arent wasting time waiting for you to return. talk to your tutor.


    Amended the 4 years to degree length +1.
    Offline

    17
    ReputationRep:
    (Original post by JustBennify)
    Thank you. That clears everything up, do you know what constitutes the 'entire year'? If I withdrew in June for example, would that be classed as leaving early even though my last exam is in May?
    Your third SAAS payment is calculated to help support you over the summer, so yes, there would be some money which you would have to repay immediately if you left in June - anything calculated to support you from your official leaving date to the date of your first SAAS payment in September. However, SAAS will negotiate a gradual repayment plan if you can't give it back in a lump sum.

    As this repayment is an issue, my advice would be to tell the uni that you're leaving, in late August. That makes the immediate repayment sum as low as possible whilst giving the uni time to withdraw your place and make sure that they tell SAAS (although you should also tell SAAS at the same time, just to be certain of them getting the message).
 
 
 

2,473

students online now

800,000+

Exam discussions

Find your exam discussion here

Poll
Should predicted grades be removed from the uni application process

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.