The Student Room Group

Leaving University

I'm wanting to withdraw from my course, but I desperately need to know the financial implications of doing so! I rang student finance, but was put through to an automated call - "press 1 for loans, press 2 for repayment" ect, and none of the options were relevant to my situation. Please help!
Original post by JessC182
I'm wanting to withdraw from my course, but I desperately need to know the financial implications of doing so! I rang student finance, but was put through to an automated call - "press 1 for loans, press 2 for repayment" ect, and none of the options were relevant to my situation. Please help!


Hi JessC182,

If you 'Press 1 for loans' you would get through to an advisor who could help. Even if you go through to repayments they'd get you through to the right team. We can't give you account specific information here but I can answer your query in general terms.

When your university or college send us a withdrawal they tell us the date you left the course and how much Tuition Fee they are charging you.

Your entitlement to funding is reassessed using this information. If you weren't entitled to all of the funding that has already been paid to you we will inform you of how much the overpayment is in writing and ask you to make arrangements to repay the amount.

Regards,

Stuart
Reply 2
Hi!

Presuming that I was entitled to the amount of loans I was given, would I simply have to pay back the first terms tuition fees and maintenance loan as normal? So after I earn 21k?
Original post by JessC182
Hi!

Presuming that I was entitled to the amount of loans I was given, would I simply have to pay back the first terms tuition fees and maintenance loan as normal? So after I earn 21k?


Hi Jess,

Yes, any funding you were entitled to (including the Tuition Fee Loan) would be paid back once you'd entered repayments and were earning over the threshold of £21,000.

Regards,

Stuart
Reply 4
Hi again!

I keep hearing the term 'overpayments' and I'm not entirely sure what is meant by that.

For this term, I was given £2,881.56 in maintenance loans. At this moment, my planned leaving date would be the 24th of November. EXCLUDING the fact that I of course will have to pay back tuition fees and maintenance loans once I am earning over 21k, will I be required to immediately pay back any of the maintenance loan? If so, how much?

Thank you!
Original post by JessC182
Hi again!

I keep hearing the term 'overpayments' and I'm not entirely sure what is meant by that.

For this term, I was given £2,881.56 in maintenance loans. At this moment, my planned leaving date would be the 24th of November. EXCLUDING the fact that I of course will have to pay back tuition fees and maintenance loans once I am earning over 21k, will I be required to immediately pay back any of the maintenance loan? If so, how much?

Thank you!


Hi JessC182,

To clarify, initially we would have assessed your entitlement for a full twelve months, that is then paid to you in three almost equal instalments.

When your university advise us of your withdrawal, you will then be reassessed up until that date, on a pro rata basis.

You will then be notified of your entitlement, for the period that you attended and as you are already aware that amount, you will only be eligible to repay from the April following your withdrawal and only then once you are earning over the threshold.

We will then look at the payments that you have already received.

If you have been paid more than the amount you were entitled to for that period, you will then receive a letter to advise how much you have been overpaid, which will include a telephone number to call and make arrangements how you will repay the amount overpaid.

Thanks Rona

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