The Student Room Group

Want to drop out of uni after first week - what happens with my loan?

So basically I've been at uni for a week now and I really can't do this. I'm at the lowest point I've been in a while, I think I might be actually depressed. Several reasons for this but how my uni is handling COVID teaching is one of those, on top of the realisiation that I'm pretty much stuck to socialising with only my flatmates, again due to COVID restrictions. I wanna drop out, but does anyone know what would happen with my loan if I did? I obviously have a maintanence loan for this year, but have only lived at uni accmodation for a week (going into 2 weeks). I'd still like to start uni next year when things are back to normal. Will I have to re-pay the maintenance loan? If so do I at least get to keep the money it would have cost me for the accomodation, and just have this added onto my student debt along with my tuition fee? Many thanks for anyone that can help.
Reply 1
bump
Reply 2
Original post by Anonymous
So basically I've been at uni for a week now and I really can't do this. I'm at the lowest point I've been in a while, I think I might be actually depressed. Several reasons for this but how my uni is handling COVID teaching is one of those, on top of the realisiation that I'm pretty much stuck to socialising with only my flatmates, again due to COVID restrictions. I wanna drop out, but does anyone know what would happen with my loan if I did? I obviously have a maintanence loan for this year, but have only lived at uni accmodation for a week (going into 2 weeks). I'd still like to start uni next year when things are back to normal. Will I have to re-pay the maintenance loan? If so do I at least get to keep the money it would have cost me for the accomodation, and just have this added onto my student debt along with my tuition fee? Many thanks for anyone that can help.

https://www.gov.uk/student-finance-if-you-suspend-or-leave/repaying-your-student-loan
Original post by Anonymous
So basically I've been at uni for a week now and I really can't do this. I'm at the lowest point I've been in a while, I think I might be actually depressed. Several reasons for this but how my uni is handling COVID teaching is one of those, on top of the realisiation that I'm pretty much stuck to socialising with only my flatmates, again due to COVID restrictions. I wanna drop out, but does anyone know what would happen with my loan if I did? I obviously have a maintanence loan for this year, but have only lived at uni accmodation for a week (going into 2 weeks). I'd still like to start uni next year when things are back to normal. Will I have to re-pay the maintenance loan? If so do I at least get to keep the money it would have cost me for the accomodation, and just have this added onto my student debt along with my tuition fee? Many thanks for anyone that can help.


Hi, sorry to hear about your situation.
If you do withdraw this year, it will count as 1 year of previous study, this could affect your eligibility in the future.

All students receive funding for the length of their course plus one additional year. So if this is your first year of study, it will count as your additional year and you will still be funded to start again next year.

If you have received funding then you will have to pay some back, your Maintenance Loan payment is there to last until the start of the second term in January, so if you withdraw before then your funding will be pro rated for the time you were studying on the course. Any overpayment will be recovered from your future funding.

Please read this leaflet for more information http://ow.ly/d/8nhs

Thanks, Isaac

Quick Reply

Latest

Trending

Trending