I am a postgraduate student at University of Winchester in Msc International Business course. I have also receive a postgraduate loan to pay my tuition fees. At the momen I have only received the 1st installment of that loan. However, i have decided to suspend my student for personal reasons. I need to use a part of that loan to pay the 25% of my tuition fee in order to leave the course before the ending of the year. My questions are:
1- Can I return the rest of the sum that I have received and that I don't need to use to the Student Finance by bank transfer?
2- Will I be considered liable to return the sum that I would use straightaway? I have called the Postgraduate Student Finance and they told me that I could be considered over payed only in case my loan is a maintainance loans or a grants or an undergraduate loan.Is it correct?
So I will have to repay the sum that I will use only when my income will be higher than £21000.
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- Thread Starter
- 02-11-2016 13:45
Offline2ReputationRep:Official TSR Representative
- Official TSR Representative
- 02-11-2016 16:14
You can repay the loan or part of it at any point voluntarily, there will be interest accruing on any amount paid.
As long as the university inform us you have withdrawn before the next payment is made you will not have an over-payment and would repay once earning over the threshold.