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If I leave I will no longer get maintenance (obviously) but still need to pay accom Watch

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    Sorry for the bad title.

    Basically I think I want to leave uni but need advice regarding the financial side of it.

    So I have my first maintenance loan and my first (of three) rent payments is due next month. If I leave uni I will still need to pay for accommodation the rest of the year due to the contract but will not have the maintenance loan money to do so.

    The next payment is around £1700 in january. I am of course going to get a job/apprenticeship when I leave but I can't guarantee I will be able to save the £1700 in time, especially on apprenticeship wages.

    Basically what I'm asking is whether there are any elements to this I am missing in order to make an informed decision? What exactly is the procedure regarding finance?

    Of course the ideal solution is my uni find somebody else to rent my room for the next two terms so I can be released from the contract but I can't rely on that.

    Does anybody have any general advice regarding this?
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    You should check your tenancy contract to see if there's a break clause. If there's not, there may be a procedure to end early (after paying some fees). There is no guarantee of this, however, and you pay have to continue to pay for the room for the agreed time as you've suggested.
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    As suggested by Kvothe the starting point is to read your accommodation agreement or if you are unable to do that, then talk to the accommodation office to point out the relative section on termination. There may be an exit clause i.e a month + admin fee. You should be able to find the details online. If there is not, then you will be liable for the period of the contract.

    I wouldnt worry though because people leaving is common and they mau be able to find a replacement or more likely is that the responsibility to find one is yours. If you do find someone to take your place they will take over the liability.

    What you should be aware of is that leaving Early may result in a request by SFE for overpayment and that much of the money given to you, they will ask to be repaid sooner rather than later. Dont go spending the rest of your loan.
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    I've read the accommodation agreement and it is essentially just what said in the OP, I am on the hook for paying the rest of the years rent unless a replacement tenant is found.
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    (Original post by tuxyu)
    Sorry for the bad title.

    Basically I think I want to leave uni but need advice regarding the financial side of it.

    So I have my first maintenance loan and my first (of three) rent payments is due next month. If I leave uni I will still need to pay for accommodation the rest of the year due to the contract but will not have the maintenance loan money to do so.

    The next payment is around £1700 in january. I am of course going to get a job/apprenticeship when I leave but I can't guarantee I will be able to save the £1700 in time, especially on apprenticeship wages.

    Basically what I'm asking is whether there are any elements to this I am missing in order to make an informed decision? What exactly is the procedure regarding finance?

    Of course the ideal solution is my uni find somebody else to rent my room for the next two terms so I can be released from the contract but I can't rely on that.

    Does anybody have any general advice regarding this?
    sometimes if you are in univerisity owned halls then there is the chance the university may let you out of the contract, at my old uni they didn't charge students who moved out, however equally I've seen others on here who have been charged by their former university. So if you are in university owned halls you need to talk to the accomodation office to get the final answer. If they insist you have to pay until a replacement is found, then chances are the onus will be on you to find one- place adverts on university facebook pages and use word of mouth to get the word around. If you are in private halls or a house then you will almost certainly need to find a replacement yourself or pay rent. If the accomodation provider expects you to pay rent and you can't afford it, then they can ask your guarentor if you have one.
 
 
 
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