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.
In other words, just to be sure, if I have received the 1st instalment of my total loan and meanwhile my university has contacted the SFE in order to stop the other payments, I will not be liable for any overpayment in relation to the 1st instalment? The overpayment procedure will apply only to undergraduate loans, maintanance loans and grants. This is what you told me when I called.
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- Thread Starter
- 07-11-2016 23:02
Offline2ReputationRep:Official TSR Representative
- Official TSR Representative
- 29-11-2016 15:15
Yes, you can repay part of any loan that has been paid, I would advise you to call our repayments team to do this: 0300 100 0607
You will not have any over-payment for this loan as it will not be reassessed. Once you enter repayment at 06/04/2019 if you are earning over the threshold your employer will start to take deductions from your salary.