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Year abroad finance

I am on a year abroad program studying in Mexico at the moment. I have some questions as to what would happen to my finance if I dropped out next term,..

What would happen if I dropped mid term, would I have to repay my loan instantly or would they withdraw the money I have left?
Please can you explain what would happen?
Also is there another way to contact SFE other than phone as I am abroad?

Thanks
Original post by nlstanton
I am on a year abroad program studying in Mexico at the moment. I have some questions as to what would happen to my finance if I dropped out next term,..

What would happen if I dropped mid term, would I have to repay my loan instantly or would they withdraw the money I have left?
Please can you explain what would happen?
Also is there another way to contact SFE other than phone as I am abroad?

Thanks



Hi nlstanton,

If you decide with your university that you are going to withdraw from your course.

Your university will advise us electronically, they will send us a Withdrawal notification.

Once processed your payments will stop immediately, we will then reassess your application.

Initially you were assessed for the whole academic year, we will reassess your application on a pro rata basis up until the date of your last attendance.

We will advise you how much you were entitled to for the length of time that you were actually there.
That entitlement will not become repayable until the April following your withdrawal and only then, once you start earning over the threshold.

If you have received more than you were entitled to, you will receive a letter advising that you have been overpaid.
The amount you have been overpaid is repayable immediately, there will be a number to call to make arrangements to repay any overpayments.

The amount you have been overpaid is repayable immediately

If you are sure that you are withdrawing, if you call us we can block your future payments, to avoid any overpayments.

Our contact details are

Student Finance England
PO Box 210
Darlington
DL1 9HJ

Tel: 0300 100 0607

(Open Monday to Friday from 8.00am to 8.00pm and between 9.00am and 4.00pm on Saturday and Sunday. Local call rates apply).

Thanks Rona

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