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Repaying my loan if I drop out of my course watch

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    Hi, I am currently debating whether or not I should quit my Uni course, I am on an art and design foundation year course, and I am going t through too much personal stuff right now to continue with the course. However, I have heard if you drop out of your Uni course instead of finishing it, you have to pay back some or all of your loan straight away. Is this true? I am scared of getting in to debt because I currently do not even have a job, so suddenly having to pay back any loan is impossible for me right now. If I do have to pay back some of it, how do i know how much it will be?
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    (Original post by YukaKitsune)
    Hi, I am currently debating whether or not I should quit my Uni course, I am on an art and design foundation year course, and I am going t through too much personal stuff right now to continue with the course. However, I have heard if you drop out of your Uni course instead of finishing it, you have to pay back some or all of your loan straight away. Is this true? I am scared of getting in to debt because I currently do not even have a job, so suddenly having to pay back any loan is impossible for me right now. If I do have to pay back some of it, how do i know how much it will be?
    Hi YukaKitsune,

    Yes, it is true that when you drop out (we use the term 'withdraw') you may have to pay back any funding you weren't entitled to.

    When you go through the process to leave the course with the university they will send us a notification of withdrawal. This will tell us the last day you were a student and how much tuition fee they are charging you.

    We use this information to reassess your funding and you will then be sent a new notification of entitlement letter and some information on withdrawals.

    If you are not in a position to pay the required amount back straight away you can discuss that with us when you know what the figure is.

    Regards,

    Stuart
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    (Original post by Stuart SFE)
    Hi YukaKitsune,

    Yes, it is true that when you drop out (we use the term 'withdraw' you may have to pay back any funding you weren't entitled to.

    When you go through the process to leave the course with the university they will send us a notification of withdrawal. This will tell us the last day you were a student and how much tuition fee they are charging you.

    We use this information to reassess your funding and you will then be sent a new notification of entitlement letter and some information on withdrawals.

    If you are not in a position to pay the required amount back straight away you can discuss that with us when you know what the figure is.

    Regards,

    Stuart
    Thank you, please can you explain what you mean by "funding you weren't entitled to"?
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    (Original post by YukaKitsune)
    Thank you, please can you explain what you mean by "funding you weren't entitled to"?
    Hi YukaKitsune,

    You are only entitled to funding while you are a student. So your entitlement to funding stops on the withdrawal date as advised by the university.

    When we get this date the assessors work out how much funding you were entitled to up to that point. If it is less than the amount you have already been paid then the difference is what you need to pay back.

    Regards,

    Stuart
 
 
 
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