Uni drop out student loan overpayment

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Jsimons56
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Report Thread starter 4 months ago
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I dropped out term 3 of first year and so I got given my loan for that term. I’m going back to uni in September and student finance have sent me a letter saying I’m getting less loan because they’ve deducted the money I got paid in my term 3 of uni before I dropped out. However, this amount will not cover my living costs and I usually get the highest loan due to my family not having much money. I don’t have much of my loan left from my overpayment that I could keep to use at uni as I had to pay my rent so most of it is gone. Is there a way I can organise them to give me my full loan as usual and I can set up a payment plan to pay back the overpayment? I’m worried now as I’m not going to be able to afford to live at uni with the amount they’ve offered
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I'm in a similar situation to you. I dropped out of first year, got overpaid and am looking to go back next year. I also won't be able to manage if they take the full repayment from me.

Student finance said this to me: "If you are in financial hardship then we can defer it until the 2nd year of your studies but we can't defer it until after your studies. You could set up a payment plan now and try pay of as much as possible before you start your course." which is pretty unhelpful. They seem pretty inflexible too. I offered to pay in 9 smaller instalments over the course but they refused that.

Of course, if they agree that you'd be in financial hardship without it, you could always save a small amount of the loan, and work over the summer to help reduce the debt.

Some universities and charities offer hardship bursaries and grants, that could be worth looking into as a backup plan in case student finance don't approve your financial hardship evidence.
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Jsimons56
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Oh that doesn’t sound very good!! I’ll have to ring up, thanks for telling me that. I don’t understand why they don’t let you set up a payment plan, it’s ridiculous
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