Student finance and dropping out

Hi im currently in my first year of my new course (changed course after first year) and I’m disliking it as much as my previous one. I’m extremely unhappy and depressed at uni and would like to drop out.
How do I drop out without immediately needing to repay my maintenance loan in may?
May is when I get my final installment. If i complete the rest of this year at uni and then dont come back next academic year, for second year, will they still expect me to repay May’s maintenance loan?
Just please help me work out how I can drop out and not have to owe SFE money immediately, as this is making me extremely anxious. I simply cant do uni anymore, but need to be sure they wont expect me to pay money back immediately

(edited 2 years ago)

Reply 1

e.m1002

9

So if you drop out you will have to repay if you're over the earning threshold. So you will owe money to SFE but you only have to pay back if you earn over £27,295 a year. If you don't earn over that, you won't pay back.

Reply 2

CCCLLL

OP

12

But how do i do it so i dont need to pay back the final instalment prematurely

Reply 3

e.m1002

9

Original post by CCCLLL

But how do i do it so i dont need to pay back the final instalment prematurely

You won't have to pay it back until you're earning over that amount. If you earn over that amount, you'll pay a percentage of what you earn over that amount. You can't not pay it back unless you earn under that amount, I don't really understand what you're asking?

Reply 4

normaw

Clearing and Applications Advisor, Universities Forum Helper

19

Original post by e.m1002

You won't have to pay it back until you're earning over that amount. If you earn over that amount, you'll pay a percentage of what you earn over that amount. You can't not pay it back unless you earn under that amount, I don't really understand what you're asking?

No that's no the case. If you drop out you might have to pay back some of the maintenance loan. It is not related to earnings.

Reply 5

normaw

Clearing and Applications Advisor, Universities Forum Helper

19

Original post by CCCLLL

Hi im currently in my first year of my new course (changed course after first year) and I’m disliking it as much as my previous one. I’m extremely unhappy and depressed at uni and would like to drop out.
How do I drop out without immediately needing to repay my maintenance loan in may?
May is when I get my final installment. If i complete the rest of this year at uni and then dont come back next academic year, for second year, will they still expect me to repay May’s maintenance loan?
Just please help me work out how I can drop out and not have to owe SFE money immediately, as this is making me extremely anxious. I simply cant do uni anymore, but need to be sure they wont expect me to pay money back immediately

@SFE Isaac should be able to advise you on this.

Original post by CCCLLL

Hi im currently in my first year of my new course (changed course after first year) and I’m disliking it as much as my previous one. I’m extremely unhappy and depressed at uni and would like to drop out.
How do I drop out without immediately needing to repay my maintenance loan in may?
May is when I get my final installment. If i complete the rest of this year at uni and then dont come back next academic year, for second year, will they still expect me to repay May’s maintenance loan?
Just please help me work out how I can drop out and not have to owe SFE money immediately, as this is making me extremely anxious. I simply cant do uni anymore, but need to be sure they wont expect me to pay money back immediately

Original post by normaw

@SFE Isaac should be able to advise you on this.

Hi there, any overpayment would need to be paid back immediately (a payment plan can be set up, or if you study again in the future we will recover it from future funding)

You can find out more by reading this leaflet http://ow.ly/d/8pcX

There will only be an overpayment if you withdraw before the end of the academic year (end of August). We will need your university to send us a withdrawal task which shows the withdrawal date. If the university states you left before the academic year ended, then you may be notified of an overpayment.

If there is no overpayment, then the funding will be recovered once you are earning over the threshold.
https://www.gov.uk/repaying-your-student-loan/what-you-pay

Thanks, Isaac

Thanks, Isaac

Reply 7

CCCLLL

OP

12

Thanks, so if i was to just not come back to uni in September and suspend my studies on SFE i would not need to pay anything immediately? @SFE Isaac

(edited 2 years ago)

Original post by CCCLLL

Thanks, so if i was to just not come back to uni in September and suspend my studies on SFE i would not need to pay anything immediately? @SFE Isaac

That depends if you will be temporarily suspending, permanently withdrawing or completing the full year. If you suspend or withdraw then it depends what date you leave the course.

Thanks, Isaac

Student finance and dropping out

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