The Student Room Group

Dropping Out of my Master's Degree

Morning everyone!

I started my Master's course in Business Psychology at UWE and have been funded entirely by Student Finance England, receiving the maximum loan for a postgraduate degree (paid in three instalments). I have received the first payment, as we are in November, and am scheduled to get the next ones in January and April.

However, I have come to the conclusion I want to drop out.
I was a Philosophy undergraduate and changed my subject drastically because I felt pressure from my family and friends to do something that would "lead to a higher income". Unfortunately, this change has not been for me and has just led me to become depressed in my studies.

My issue is that I am not financial aided in anyway by my parents and live with my grandmother who is retired. Naturally, I cannot pay back a lump sum in the thousands immediately.

My question then, in short, is what is the process behind dropping out of a master's degree, how much will I be required to pay back and what is the time period for this?
Also, if anyone knows if there is a penalty fee for dropping out of UWE, that would be helpful!

Thank you so much and have a wonderful day
Original post by ellybby
Morning everyone!
....
Also, if anyone knows if there is a penalty fee for dropping out of UWE, that would be helpful!

I've moved your thread to the Ask SFE forum so that an official SFE rep can reply to you regarding potential repayments.

You will need to contact UWE to discuss its policy for withdrawals.
Original post by ellybby
Morning everyone!

I started my Master's course in Business Psychology at UWE and have been funded entirely by Student Finance England, receiving the maximum loan for a postgraduate degree (paid in three instalments). I have received the first payment, as we are in November, and am scheduled to get the next ones in January and April.

However, I have come to the conclusion I want to drop out.
I was a Philosophy undergraduate and changed my subject drastically because I felt pressure from my family and friends to do something that would "lead to a higher income". Unfortunately, this change has not been for me and has just led me to become depressed in my studies.

My issue is that I am not financial aided in anyway by my parents and live with my grandmother who is retired. Naturally, I cannot pay back a lump sum in the thousands immediately.

My question then, in short, is what is the process behind dropping out of a master's degree, how much will I be required to pay back and what is the time period for this?
Also, if anyone knows if there is a penalty fee for dropping out of UWE, that would be helpful!

Thank you so much and have a wonderful day

Hi there,

When you withdraw from a Masters course you don't need to repay anything, rest assured.

Unlike with undergraduate funding, if you withdraw after receiving a payment it won't count as an overpayment that you need to repay immediately.

Instead, you'll just repay the loan normally when you're earning above the income threshold.

Thanks, Graeme

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