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Dropped out of my Masters but already spent some of the student loan what to do? Watch

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    Hi all,
    Can someone please give me advice about my situation.
    I applied for the MA course at the uni and I thought I picked the right one for me and declined other offers from other unis (I based my decision on their fees, they were the cheapest). When I applied the uni website stated clearly that we could choose our own optional modules, and they also got other perks (e.g. free foreign language course, nursery on site etc.). However, when I turned up for the induction day it turned out that we couldn't; the tutors already picked what they're going to teach us (I wasn't aware of this before, I even asked the admins team prior to the enrolment and they did say that I can choose my own optional modules). Needless to say how upset, frustrated and disappointed I was, I then decided to withdraw and they finished the withdrawal process within a day! Now, after reading and doing some research on the Internet I know that I need to return my loan money back to SLC but the problem is I've already spent some of the money to buy books for the course, fixing my old laptop, buying new study gear (notebooks& other stationery) and in the past 3-4 weeks I've been to the uni to do their language course which obviously money spent there as well. I'm now spent about one thousand pound of the three thousand ish loan, am utterly devastated as I don't how to find a grand to put back to the Student loan to pay back to them, I don't know what to do. Any advice will be greatly appreciated.
    Thank you.
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    I'm thinking of quitting too but I have also spent about 1000 of my loan, I have the other 2000 but that is what I will be paying my tuition fees with
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    (Original post by Anonymous)
    Hi all,
    Can someone please give me advice about my situation.
    I applied for the MA course at the uni and I thought I picked the right one for me and declined other offers from other unis (I based my decision on their fees, they were the cheapest). When I applied the uni website stated clearly that we could choose our own optional modules, and they also got other perks (e.g. free foreign language course, nursery on site etc.). However, when I turned up for the induction day it turned out that we couldn't; the tutors already picked what they're going to teach us (I wasn't aware of this before, I even asked the admins team prior to the enrolment and they did say that I can choose my own optional modules). Needless to say how upset, frustrated and disappointed I was, I then decided to withdraw and they finished the withdrawal process within a day! Now, after reading and doing some research on the Internet I know that I need to return my loan money back to SLC but the problem is I've already spent some of the money to buy books for the course, fixing my old laptop, buying new study gear (notebooks& other stationery) and in the past 3-4 weeks I've been to the uni to do their language course which obviously money spent there as well. I'm now spent about one thousand pound of the three thousand ish loan, am utterly devastated as I don't how to find a grand to put back to the Student loan to pay back to them, I don't know what to do. Any advice will be greatly appreciated.
    Thank you.
    You'll need to work out how much you can afford to pay back each month, and then make a repayment plan with student finance. As long as you're paying back as much as you can afford they'll be fine with it - even if it's only £5 per month. But once you've made the repayment plan, you need to stick to it and make the agreed repayments, unless your circumstances change and you tell them of this.

    So you'll need to get a job or claim JSA or something to have some form of income.
    Then you need to write down your outgoings/expenses. Start with the important ones - rent, council tax, food etc. Remember to include anything like a mobile phone contract where you're tied into a set payment.
    Use these figures to work out how much you can afford to pay student finance each week/month and phone them and tell them.
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    I already have student finance from my undergraduate degree, I pay a percentage off this every month, so will they not just add this to my total student finance money
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    (Original post by Danielle8928)
    I already have student finance from my undergraduate degree, I pay a percentage off this every month, so will they not just add this to my total student finance money
    No, you dropped out so you're not entitled to the loan. You need to make arrangements to pay it back asap
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    (Original post by Juno)
    You'll need to work out how much you can afford to pay back each month, and then make a repayment plan with student finance. As long as you're paying back as much as you can afford they'll be fine with it - even if it's only £5 per month. But once you've made the repayment plan, you need to stick to it and make the agreed repayments, unless your circumstances change and you tell them of this.

    So you'll need to get a job or claim JSA or something to have some form of income.
    Then you need to write down your outgoings/expenses. Start with the important ones - rent, council tax, food etc. Remember to include anything like a mobile phone contract where you're tied into a set payment.
    Use these figures to work out how much you can afford to pay student finance each week/month and phone them and tell them.
    Thanks so much for your very helpful reply Juno! I just contacted SLC this morning and I've been told that they will send a letter to me to collect the overpaid loan back and if I don't have the full amount of the money to pay back I can set up a payment plan as you said. Feel much better now.

    But folks please be aware, when I asked them whether I can apply for the postgrad loan again next year or not (as I intend to pay back what I owe before Sep next year and apply for MA again somewhere else) the Student finance said that they do not usually let students apply for PG loan twice unless there are extenuating circumstances... Now they are looking at my case, the person on the phone said that I need a letter from the Uni to confirm my reasons that I gave on the withdrawal form stating that the Uni are misleading/ misguiding on their website (which I really doubt that they will do that for me). I'm now facing another plight, I'm not going to know whether I'll be able to apply for PG loan again next year or not but I'll fight tooth and nail to get the letter from them as I'm determined to chase after my educational and career goals. But to be perfectly honest, if I had known that by dropping out of my MA course would entail so many hassles and implications I might not have dropped out in the first place - I might have just bit the bullet and got on with it :-(
 
 
 
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