my daughter is in first term of her second year and considering withdrawing from her course. What will she need to repay, and when? Is it correct that tuition fees are repayable at 25% if she leaves this term? And what about maintenance loan?
my daughter is in first term of her second year and considering withdrawing from her course. What will she need to repay, and when? Is it correct that tuition fees are repayable at 25% if she leaves this term? And what about maintenance loan?
If she has attended for the first 2 weeks of term then her tuition fee loan should cover the fees charged by her university (it is worth checking though - some universities charge more than the 25% SLC pay if people drop out in the first term).
Once her university notifies SLC/SFE that she has withdrawn then SFE will work out how much she might have been "overpaid" for maintenance loans. This will be based on the number of weeks still to go before her next instalment. They then write to her and let her know how much has been "overpaid" and ask her to get in touch to work out a repayment plan for that money. They will want it back ASAP but they're also fairly reasonable.
Any loan that is considered not to be overpaid will start to be repaid from her PAYE payslips from next April if she earns above the repayment threshold.
If she has attended for the first 2 weeks of term then her tuition fee loan should cover the fees charged by her university (it is worth checking though - some universities charge more than the 25% SLC pay if people drop out in the first term).
Once her university notifies SLC/SFE that she has withdrawn then SFE will work out how much she might have been "overpaid" for maintenance loans. This will be based on the number of weeks still to go before her next instalment. They then write to her and let her know how much has been "overpaid" and ask her to get in touch to work out a repayment plan for that money. They will want it back ASAP but they're also fairly reasonable.
Any loan that is considered not to be overpaid will start to be repaid from her PAYE payslips from next April if she earns above the repayment threshold.
Hi - thanks. How is overpayment calculated? Does that mean if she withdraws/suspends at this stage of term there wouldn't be a great deal to repay?
Hi dorothyparker,
The calculation is based on how many days in the term the student attended.
For example, if term 1 is 75 days long and the student attended 75 days then there's no overpayment. If they attended 33 days then the assessors pro rata the entitlement which may mean the student has been overpaid.