Deferring mid-way through second year

Hello all.
I'm in my second year, but being fully honest I haven't been doing at all well academically while being here. I managed to do mostly okay in first year (I passed, but some modules I got 30% on final exams). This year has been more of the same, except worse since I've had to work at the same time to make up for some poor financial decisions I've made.
I think I could manage to scrape a pass and get into third year, but at the same time I know that this year counts towards my final grade, and if I barely scrape by and end up with a bad degree, it'll be as pointless to me as not having the degree at all. So, I've started to consider dropping out of the rest of this academic year, and then restarting second year come September. That way, I could go full time at work, sort out my financial situation, and then either quit or work a very limited schedule from next academic year onwards. But I'm not entirely sure of my options, or perhaps if there's anything I've missed. If anyone has any suggestions or guidance I would be grateful to hear. Thanks!

Sounds sensible if you are heading for the rocks. I would also do it on the basis of MH reasons and get a GP note. You can do depression and anxiety because of the financial situation. Youd better hurry up though. Also makes sense about repairing your finances although you will have the ongoing liability of your rent to sort out and ofc any student maintenance would end when you ceased to be a student, although you can ask to keep up to 60 days worth..

Look on the website or talk to su advisor about the procedure to defer.
Normally involves speaking to PT and getting signatures on a form.

Is there not a way where I can still technically be a student until then? Or is it a situation where I'd have to be separated from the uni, if you get me?
I've got a meeting with my tutor arranged for Friday, so I'm gonna talk it through with her.
Thanks for your reply!

Until when?

If you withdraw you arent a student.
If you suspend then you may have trouble convincing SFE you are a student.
You will have to talk it through with SFE but other than the discretionary payment I believe funding stops as you are no longer a student.

I’d be getting back into it in September this year, so a long summer basically. I would want to save any hard action like withdrawing unless it was completely necessary, I just want a hard restart on this year basically