When is the best time to withdraw from uni?

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Anonymous #1
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I'm in first year and I just finished my exams but I decided uni isn't for me so I don't want to do another two years. I know how to withdraw and everything but I was just wondering when the best time might be, because I don't wanna have to give any student finance back for this Summer because I already spent quite a bit (rent, paying back what I borrowed from my parents, etc.). I know I obviously will have to eventually pay back my tuition loan and maintenance loan in future but I don't want to make an application to withdraw right now if that means student finance will reassess my funds and ask for money back right now.

So I don't know whether to withdraw later on in August or something so that the maintenance loan costs aren't reassessed or if they are then it won't be as big of a difference as it would be if I withdrew right now.

Idk pls help
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Anonymous #2
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They shouldn't ask for any payment back for loans you have already taken out with them right away, you will just gradually pay it back once you start earning at the threshold for student loan repayments. They will only ask for money back immediately if they have overpayed, but you can choose to pay it back gradually.
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Zarek
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#3
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#3
Get some advice from your SU about this
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gjd800
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#4
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#4
Just do it now.
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artful_lounger
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#5
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(Original post by Anonymous)
They shouldn't ask for any payment back for loans you have already taken out with them right away, you will just gradually pay it back once you start earning at the threshold for student loan repayments. They will only ask for money back immediately if they have overpayed, but you can choose to pay it back gradually.
This is incorrect - if you withdraw from a course (or interrupt your studies) part way through the year they will require you pay back whatever maintenance loan you have been disbursed pro-rata for how far into the term you are. e.g. if you drop out at halfway through the term after the most recent maintenance loan disbursement you would be required to pay half back - immediately, although they may be amenable to arranging repayment plans if needed. This is separate from repayment of the loan long term which is what the case would be for the rest of the loan, because those funds are considered an overpayment.

(Original post by Anonymous)
I'm in first year and I just finished my exams but I decided uni isn't for me so I don't want to do another two years. I know how to withdraw and everything but I was just wondering when the best time might be, because I don't wanna have to give any student finance back for this Summer because I already spent quite a bit (rent, paying back what I borrowed from my parents, etc.). I know I obviously will have to eventually pay back my tuition loan and maintenance loan in future but I don't want to make an application to withdraw right now if that means student finance will reassess my funds and ask for money back right now.

So I don't know whether to withdraw later on in August or something so that the maintenance loan costs aren't reassessed or if they are then it won't be as big of a difference as it would be if I withdrew right now.

Idk pls help
I'd suggest getting in touch with your uni to find out the process for withdrawing anyway - it usually takes a little while regardless and you might be required to have some meetings with your personal tutor before you can progress to completing the admin paperwork for withdrawal.

As per above, you would only need to repay part of the loan, basically the amount you hadn't yet "earned", pro-rata. SFE are also generally fairly amenable to arranging repayment plans if you aren't able to repay immediately, although if you don't have a job lined up in the immediate future that may be difficult to arrange (if not you should look into signing on for UC/JSA and seeing if you can arrange repayments that are in line with your payments from that)).

Most uni terms only run till mid June or so though so you're almost at the end of that period anyway - so once you add in all the time for having any needed meetings and filling in the paperwork, you should likely be near the end of term regardless, so I imagine you would have to repay very little of the loan at this point, much less in a week or two's time when you get through all the admin.
Last edited by artful_lounger; 1 month ago
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Anonymous #3
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You seem to suggest that he would get an overpayment calcualted to the end of his term in mid June, where it has been argued before that the last payment that covers the summer would be until the end of August. For making things clear, if someone who started September, and withdraw from the course after their 3rd term (end of term as stated from the UNI) on e.g. 2nd June, what kind of overpaymenbt are they looking at?

I understand this is a complex question, because while someone gets a maitenance loan which may cause an overpayment due to summer cover, others getting grants such as "parents learning allowance" and "special support allowance", which are designed to cover books and travel etc that would not apply to summer vacation.

Have you seen an example of ushc a withdraw in a year 1 or 2 (not final) and what kind of overpaytment it caused? Or while on the subject, are you aware of a figure for a final year student got, and how much less it was comared to the previous years?

Any reply would be much appreciated.
(Original post by artful_lounger)
This is incorrect - if you withdraw from a course (or interrupt your studies) part way through the year they will require you pay back whatever maintenance loan you have been disbursed pro-rata for how far into the term you are. e.g. if you drop out at halfway through the term after the most recent maintenance loan disbursement you would be required to pay half back - immediately, although they may be amenable to arranging repayment plans if needed. This is separate from repayment of the loan long term which is what the case would be for the rest of the loan, because those funds are considered an overpayment.



I'd suggest getting in touch with your uni to find out the process for withdrawing anyway - it usually takes a little while regardless and you might be required to have some meetings with your personal tutor before you can progress to completing the admin paperwork for withdrawal.

As per above, you would only need to repay part of the loan, basically the amount you hadn't yet "earned", pro-rata. SFE are also generally fairly amenable to arranging repayment plans if you aren't able to repay immediately, although if you don't have a job lined up in the immediate future that may be difficult to arrange (if not you should look into signing on for UC/JSA and seeing if you can arrange repayments that are in line with your payments from that)).

Most uni terms only run till mid June or so though so you're almost at the end of that period anyway - so once you add in all the time for having any needed meetings and filling in the paperwork, you should likely be near the end of term regardless, so I imagine you would have to repay very little of the loan at this point, much less in a week or two's time when you get through all the admin.
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artful_lounger
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#7
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(Original post by Anonymous)
You seem to suggest that he would get an overpayment calcualted to the end of his term in mid June, where it has been argued before that the last payment that covers the summer would be until the end of August. For making things clear, if someone who started September, and withdraw from the course after their 3rd term (end of term as stated from the UNI) on e.g. 2nd June, what kind of overpaymenbt are they looking at?

I understand this is a complex question, because while someone gets a maitenance loan which may cause an overpayment due to summer cover, others getting grants such as "parents learning allowance" and "special support allowance", which are designed to cover books and travel etc that would not apply to summer vacation.

Have you seen an example of ushc a withdraw in a year 1 or 2 (not final) and what kind of overpaytment it caused? Or while on the subject, are you aware of a figure for a final year student got, and how much less it was comared to the previous years?

Any reply would be much appreciated.
This post is kind of confusing, I have no idea what "ushc" means. In your example if they withdrew after the third term they would not normally need to repay anything to my knowledge and experience. When I previously withdrew from a course to start one elsewhere via clearing, it was after the exam period and end of term, and I didn't have any overpayment to repay as a result.

It's fairly simple - you get paid out maintenance loans in several separate disbursements over the year. If you withdraw from the course after receiving one but before the next disbursement, you will need to pay back an amount of that disbursement pro rata based on how long it is between the two. If you withdraw at the end of term, before the next disbursement, then you don't have to pay back anything. If you withdraw 1 day after the first disbursement at the start of term, you have to pay (almost) all of it.

The later you withdraw, the less you have to repay normally. However withdrawing later may have other caveats depending on your plans and situation. Also note that you would still have 1 fewer year of SFE entitlement (even if you withdraw part way through the year) for future study.
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Anonymous #3
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Report 2 weeks ago
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"Such" - Not sure why you see it confusing, but thank you for your reply and more details. To put it simple, SFE says that an academic year is from 1st Sep-August 31st. So, if The University term dates state the academic year ends on 2nd june, and I withdraw on 3rd June, I will still get an overpayment becuase the Academic year for SFE has 90 more days (June 3rd - August 31st).

Again appologies for the spellings, I was too confident touch typing I guess




(Original post by artful_lounger)
This post is kind of confusing, I have no idea what "ushc" means. In your example if they withdrew after the third term they would not normally need to repay anything to my knowledge and experience. When I previously withdrew from a course to start one elsewhere via clearing, it was after the exam period and end of term, and I didn't have any overpayment to repay as a result.

It's fairly simple - you get paid out maintenance loans in several separate disbursements over the year. If you withdraw from the course after receiving one but before the next disbursement, you will need to pay back an amount of that disbursement pro rata based on how long it is between the two. If you withdraw at the end of term, before the next disbursement, then you don't have to pay back anything. If you withdraw 1 day after the first disbursement at the start of term, you have to pay (almost) all of it.

The later you withdraw, the less you have to repay normally. However withdrawing later may have other caveats depending on your plans and situation. Also note that you would still have 1 fewer year of SFE entitlement (even if you withdraw part way through the year) for future study.
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artful_lounger
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#9
Report 2 weeks ago
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(Original post by Anonymous)
"Such" - Not sure why you see it confusing, but thank you for your reply and more details. To put it simple, SFE says that an academic year is from 1st Sep-August 31st. So, if The University term dates state the academic year ends on 2nd june, and I withdraw on 3rd June, I will still get an overpayment becuase the Academic year for SFE has 90 more days (June 3rd - August 31st).

Again appologies for the spellings, I was too confident touch typing I guess
I'm fairly certain it's based on your universities term dates, if you want absolute confirmation you need to contact SFE to ask.
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