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Student Finance. What do they mean by Term? watch

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    This applies to all students.
    If you transfer to a new university or college before the start of term 1
    your full Tuition Fee Loan will be paid to your new university or college.
    If you transfer to a new university or college during term 1, your new
    university will only get 75% of your Tuition Fee Loan. The remaining
    25% will be paid to the university or college you transferred from.
    If the tuition fee at your new university or college is higher we’ll only
    pay the university 75% of the new tuition fee.
    Transferring to a new university or college during term 2 will mean
    your previous university or college can only get 50% of your Tuition
    Fee Loan. The other 50% will be paid to your new university or
    college.
    If you transfer during term 3 we won’t pay any Tuition Fee Loan to
    your new university or college. Your previous university or college will
    get the full Tuition Fee Loan.

    But what is a TERM?

    Is that a Year or is that a semester???

    Because if it is a Year, I can change my University on the Second Year,,, but if by Term they mean Semester, then I can not!

    Help please I don't Understand?
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    (Original post by MarieDi)
    This applies to all students.
    If you transfer to a new university or college before the start of term 1
    your full Tuition Fee Loan will be paid to your new university or college.
    If you transfer to a new university or college during term 1, your new
    university will only get 75% of your Tuition Fee Loan. The remaining
    25% will be paid to the university or college you transferred from.
    If the tuition fee at your new university or college is higher we’ll only
    pay the university 75% of the new tuition fee.
    Transferring to a new university or college during term 2 will mean
    your previous university or college can only get 50% of your Tuition
    Fee Loan. The other 50% will be paid to your new university or
    college.
    If you transfer during term 3 we won’t pay any Tuition Fee Loan to
    your new university or college. Your previous university or college will
    get the full Tuition Fee Loan.

    But what is a TERM?

    Is that a Year or is that a semester???

    Because if it is a Year, I can change my University on the Second Year,,, but if by Term they mean Semester, then I can not!

    Help please I don't Understand?
    Hi MarieDi,

    Universities normally split their courses into 3 terms per academic year. If you started your course in September, Term 1 starts in September, term 2 normally starts at some point in January and term 3 normally starts at some point in April (this can vary from course to course but that's generally how the terms are split).

    For example, if you transfer course during term 2 (so some time between January and April) this means the first university will likely want 50% of the tuition fees to cover terms 1 and 2 (September to the point were you transferred) meaning there would only be 50% left for the new university.

    I hope this information helps but if you need more clarification, please don't hesitate to ask.

    Kind regards,

    John.
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    Hi John.

    Yes, thanks.

    I was hopping that it meant year.... Then studying in England is not for me.. as I am doing a a degree with a Foundation Year, but even with that, they didn't accept me to progress into the degree I want...

    But by completing a Foundation Year I could easily apply to any other University from the second Year... But I can't do that if I won't have Student Loan, as I only can change on the First Year..
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    (Original post by MarieDi)
    Hi John.

    Yes, thanks.

    I was hopping that it meant year.... Then studying in England is not for me.. as I am doing a a degree with a Foundation Year, but even with that, they didn't accept me to progress into the degree I want...

    But by completing a Foundation Year I could easily apply to any other University from the second Year... But I can't do that if I won't have Student Loan, as I only can change on the First Year..
    Hi MarieDi,

    May I just ask, how many years of study have you done?

    Thank you,

    John.
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    Sure.

    I've not started yet. I have an offer to study Accountancy and Finance with Internacional Foundation Year, but I wanted to study Economics and Finance instead.

    I was told by the University they could not offer me the Foundation Year to progress into Economics and Finance because I needed an equivalent to A or B on an As Level in Maths if I wanted to do that program, and my current qualifications are only equivalent to GCSE.... Wich is ridiculous, because the International Foundation Year is suppose to be designed to prepare the student to an equivalent of British A Levels...

    So, basically, no Students who did highschool in a third world country can, as equivalent education to A Levels exist only in Europe, North America, Japan, Austrial, Hong Kong...

    I am a dual nationality student Eu/Latin American. Being living in UK for 5 years now, as I had wait that time to be entitled to get Student Loan to be able to pay my studies.

    But I also needed to do an International Foundation Year so or so, and for it to be covered with Student Loan it must be included with a full degree, otherwise I should pay it separately (that is obviously too expensive).

    Now, with the International Foundation Year I could easily apply to study Economics at any other Uni in the UK, outside of the " exclusive Russell Group". As I don't care where do I get my degree, as long it's in Economics at a Northern European University...

    But if I can not change my University after completion of the first year (as I explained, I will be enrolled for 4 years to get a Ba Hons in Accountancy and Finance), therefore I will basically acquire a debt of nearly £50000 to study something I don't want, just because it was my only choice due to my background.

    My hope was that I could switch Uni, after I completed the IFY, and start my second year of Study in Economics and Finqnce (which in fact would be the first year of the academic degree), and still get Student Loan to pay my tuition fee for those 3 years at the new University.

    But now I know I can't, I might change my mind...
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    (Original post by MarieDi)
    Sure.

    I've not started yet. I have an offer to study Accountancy and Finance with Internacional Foundation Year, but I wanted to study Economics and Finance instead.

    I was told by the University they could not offer me the Foundation Year to progress into Economics and Finance because I needed an equivalent to A or B on an As Level in Maths if I wanted to do that program, and my current qualifications are only equivalent to GCSE.... Wich is ridiculous, because the International Foundation Year is suppose to be designed to prepare the student to an equivalent of British A Levels...

    So, basically, no Students who did highschool in a third world country can, as equivalent education to A Levels exist only in Europe, North America, Japan, Austrial, Hong Kong...

    I am a dual nationality student Eu/Latin American. Being living in UK for 5 years now, as I had wait that time to be entitled to get Student Loan to be able to pay my studies.

    But I also needed to do an International Foundation Year so or so, and for it to be covered with Student Loan it must be included with a full degree, otherwise I should pay it separately (that is obviously too expensive).

    Now, with the International Foundation Year I could easily apply to study Economics at any other Uni in the UK, outside of the " exclusive Russell Group". As I don't care where do I get my degree, as long it's in Economics at a Northern European University...

    But if I can not change my University after completion of the first year (as I explained, I will be enrolled for 4 years to get a Ba Hons in Accountancy and Finance), therefore I will basically acquire a debt of nearly £50000 to study something I don't want, just because it was my only choice due to my background.

    My hope was that I could switch Uni, after I completed the IFY, and start my second year of Study in Economics and Finqnce (which in fact would be the first year of the academic degree), and still get Student Loan to pay my tuition fee for those 3 years at the new University.

    But now I know I can't, I might change my mind...
    Hi MarieDi,

    So just to clarify, you've not started yet, but you plan on doing a foundation year, then switching subjects to do the full degree?

    Thanks again,

    John.
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    The Foundation Year is part of the degree.
    The name of the degree on UCAS is Accountancy and Finance with International Foundation Year. It lasts 4 years in total.

    Not all Universities offer degrees with IFY... The IFY is normally given apart from your degree, but I was not able to do it this way, because this way it's not covered by Student Loan.

    I had to start a full degree with International Foundation Year included. And the University where I got the offer, gave me the offer of a 4 years degree (Accountancy and Finance with IFY)...

    I accept the offer to study, but knowing I was only to take the IFY with them, and plan to apply to Economics and Finance next Academic Year to any other University (because I know once I have that, i will get offers from most of them).

    Of course, I would need Student Loan to pay tuition fee for the following 3 years. But there would be a total of 4 years, either way, the only thing that changes is the University..

    If I can not change University after the first year (Foundation), then I prefer to quit.


    So, short answer, Yes, I would start the IFY in September ( which is part of a complete 4 years degree), and yes, I plan on changing subjects and University after I complete the IFY. Or at least that was the plan until today that I read student loan terms and conditions.
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    (Original post by MarieDi)
    The Foundation Year is part of the degree.
    The name of the degree on UCAS is Accountancy and Finance with International Foundation Year. It lasts 4 years in total.

    Not all Universities offer degrees with IFY... The IFY is normally given apart from your degree, but I was not able to do it this way, because this way it's not covered by Student Loan.

    I had to start a full degree with International Foundation Year included. And the University where I got the offer, gave me the offer of a 4 years degree (Accountancy and Finance with IFY)...

    I accept the offer to study, but knowing I was only to take the IFY with them, and plan to apply to Economics and Finance next Academic Year to any other University (because I know once I have that, i will get offers from most of them).

    Of course, I would need Student Loan to pay tuition fee for the following 3 years. But there would be a total of 4 years, either way, the only thing that changes is the University..

    If I can not change University after the first year (Foundation), then I prefer to quit.


    So, short answer, Yes, I would start the IFY in September ( which is part of a complete 4 years degree), and yes, I plan on changing subjects and University after I complete the IFY. Or at least that was the plan until today that I read student loan terms and conditions.
    Hi MarieDi,

    Thanks for answering that.

    So I think there's just been a little confusion over the regulations.

    When calculating your student finance, we take the length of your new course, plus 1 additional year, minus any years of previous study.
    For example, if you study the foundation year then leave the course and go on to study a different 3 year course, the calculation would look like this:

    3+1-1= 3 years of full funding.

    So in that situation you can be funded for the foundation year on 1 course and the 3 year degree on another course.

    You don't need to think about the terms or the semesters when you complete a full year of the course, you would only really worry about that if you wanted to change course during an academic year.

    I hope this clears things up a bit.

    Best wishes,

    John.
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    Oh ok. So the "terms thing" is for people who wants to change Uni in the middle of an academic year... So those percentages are refered to the payment of the £9250 tuition fee each year, and not the full payment of the loan (about £37000) for the full 4 or 3 years lenght of the degree.

    That makes more sense. And it's a great new. I was already crying, checking for German language courses and Germany Universities. Thinking I lost 4 years of my life, and that now I was condemned to study something I don't want or to start over in a different country.

    Thanks very much for your help, really. And sorry about the confusion.
 
 
 
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