Leaving uni before course complete
, if i leave will I have to pay back ALL asap? Or will I be able to pay if back once I'm working over a certain Wage threshold ? I'm panicking as I've obviously used some of maintenance loan I've had for living expenses etc and can't afford to pay it all back in full.
•
You will not need to immediately repay the first instalment of your maintenance loan as this has been "earned" pro-rata through your studies to date. This will obviously form part of what you owe long term but you would only make repayments if earning over the threshold etc. Likewise for the tuition fee loans.
•
Your second instalment of your maintenance loan which is due to cover the length of time for the second term you will likely be asked to immediately pay the majority of it back (minus the ~1-2 weeks pro-rata hat you have "earned" so far of it). However SFE I gather are amenable to discussing short-medium term repayment plans.
Some additional considerations though:
•
Whether or not you leave the course now or at the end of the year, it will count as 1 (one) year of your SFE entitlement. Depending on your prior study in higher education, if you subsequently wanted to move to a new course this may affect your entitlement for funding for that course.
•
Your contract with your accommodation provider (be it halls or a private rental or whatever) is independent of your SFE funding and you may be liable for rent still, have to pay a fee if you intend to break your contract early, and/or need to find a replacement tenant. You should carefully review your contract and your expected financial situation after withdrawing to understand how that affects you.
If you've already used part of your maintenance loan, especially if you used it to pay for accommodation, it may be more practical to wait until the spring break period just before your next loan disbursement is due to withdraw - as then you won't need to pay back this second SFE maintenance loan instalment (as you will have "earned" it pro-rata over the course of the term) and can have a "clean break" before the next one comes in. It's generally simplest to plan a withdrawal either just before the next instalment comes in or after all instalments have been received for that reason.
In all cases I would strongly suggest contacting SFE to understand the full picture from their side before making any major changes. Also note once you withdraw it is your responsibility to inform SFE of the withdrawal to prevent any overpayments.
Reply 2
•
You will not need to immediately repay the first instalment of your maintenance loan as this has been "earned" pro-rata through your studies to date. This will obviously form part of what you owe long term but you would only make repayments if earning over the threshold etc. Likewise for the tuition fee loans.
•
Your second instalment of your maintenance loan which is due to cover the length of time for the second term you will likely be asked to immediately pay the majority of it back (minus the ~1-2 weeks pro-rata hat you have "earned" so far of it). However SFE I gather are amenable to discussing short-medium term repayment plans.
Some additional considerations though:
•
Whether or not you leave the course now or at the end of the year, it will count as 1 (one) year of your SFE entitlement. Depending on your prior study in higher education, if you subsequently wanted to move to a new course this may affect your entitlement for funding for that course.
•
Your contract with your accommodation provider (be it halls or a private rental or whatever) is independent of your SFE funding and you may be liable for rent still, have to pay a fee if you intend to break your contract early, and/or need to find a replacement tenant. You should carefully review your contract and your expected financial situation after withdrawing to understand how that affects you.
If you've already used part of your maintenance loan, especially if you used it to pay for accommodation, it may be more practical to wait until the spring break period just before your next loan disbursement is due to withdraw - as then you won't need to pay back this second SFE maintenance loan instalment (as you will have "earned" it pro-rata over the course of the term) and can have a "clean break" before the next one comes in. It's generally simplest to plan a withdrawal either just before the next instalment comes in or after all instalments have been received for that reason.
Thank you. So, assuming I wait til spring term prior to third and final payment of loan due, I'll then not have to pay back two installments until I'm working is that what you mean? And if i complete the full year likewise id pay back all maintenance/tuition once working (long-term)? . I've spoken to student finance and they said if I want to change unis after this first year I will get funding for 3 more years, as apparently I'm eligible for 3 years plus an additional year , and obviously I'm in first year now. So if I decide to go elsewhere on similar or same course ill get 3 years funded, just hope I can transfer and start off at new uni in year 2 rather than have to start again otherwise I'd have a year where I'd get nothing , and I simply wouldn't be able to afford that !.
Thank you for answering me, it's put my mind at rest to know if i do leave now at least my first installation wont have to be paid back ASAP only when I'm working with threshold high enough, and 2nd installment could be paid back in small amounts not straight away, was really fretting and worrying. Do you have to pay back tuition loan asap if I leave early ????
Reply 3
•
You will not need to immediately repay the first instalment of your maintenance loan as this has been "earned" pro-rata through your studies to date. This will obviously form part of what you owe long term but you would only make repayments if earning over the threshold etc. Likewise for the tuition fee loans.
•
Your second instalment of your maintenance loan which is due to cover the length of time for the second term you will likely be asked to immediately pay the majority of it back (minus the ~1-2 weeks pro-rata hat you have "earned" so far of it). However SFE I gather are amenable to discussing short-medium term repayment plans.
Some additional considerations though:
•
Whether or not you leave the course now or at the end of the year, it will count as 1 (one) year of your SFE entitlement. Depending on your prior study in higher education, if you subsequently wanted to move to a new course this may affect your entitlement for funding for that course.
•
Your contract with your accommodation provider (be it halls or a private rental or whatever) is independent of your SFE funding and you may be liable for rent still, have to pay a fee if you intend to break your contract early, and/or need to find a replacement tenant. You should carefully review your contract and your expected financial situation after withdrawing to understand how that affects you.
If you've already used part of your maintenance loan, especially if you used it to pay for accommodation, it may be more practical to wait until the spring break period just before your next loan disbursement is due to withdraw - as then you won't need to pay back this second SFE maintenance loan instalment (as you will have "earned" it pro-rata over the course of the term) and can have a "clean break" before the next one comes in. It's generally simplest to plan a withdrawal either just before the next instalment comes in or after all instalments have been received for that reason.
In all cases I would strongly suggest contacting SFE to understand the full picture from their side before making any major changes. Also note once you withdraw it is your responsibility to inform SFE of the withdrawal to prevent any overpayments.
I'm not in rented accommodation luckily, so not tied into contract, just pay board and food
Reply 4
Yes that should be correct (at least in my experience).
Thank you for answering me, it's put my mind at rest to know if i do leave now at least my first installation wont have to be paid back ASAP only when I'm working with threshold high enough, and 2nd installment could be paid back in small amounts not straight away, was really fretting and worrying. Do you have to pay back tuition loan asap if I leave early ????
My understanding and experience is that yes, you wouldn't need to immediately pay anything back then, you'd just make the regular repayments when earning over the threshold.
Note there's no guarantee you'll be able to start in second year at another uni - certainly at the very least, you would need to successfully complete your first year at your current uni. But not all universities accept second year transfers at all, and those that do will need to be satisfied the first year of your course exactly matches theirs. Usually if you change unis you have to start again in first year. However if you're only in first year now you would still get full funding for a new course, but you wouldn't have the additional "gift year" as that would have been used this year.
As far as I'm aware the tuition fee loans always just get added to your total amount owed and paid back when earning over the threshold but double check with SFE in case they have changed that policy recently.
Reply 7
Note there's no guarantee you'll be able to start in second year at another uni - certainly at the very least, you would need to successfully complete your first year at your current uni. But not all universities accept second year transfers at all, and those that do will need to be satisfied the first year of your course exactly matches theirs. Usually if you change unis you have to start again in first year. However if you're only in first year now you would still get full funding for a new course, but you wouldn't have the additional "gift year" as that would have been used this year.
As far as I'm aware the tuition fee loans always just get added to your total amount owed and paid back when earning over the threshold but double check with SFE in case they have changed that policy recently.
Yes that's my understanding of starting a new course. But at least they are 3 year course and ill have 3 years funding left available to me after this year's done. Thank you so so much for your advice.
You don't have three years of funding left - it is determined by the length of the new course. Finance for a new course is calculated as follows:
Length of new course + 1 (gift year) - previous study
So if you take a new three-year course: 3 + 1 - 1 = 3
Similarly, if your new course is 4 years: 4 + 1 - 1 = 4
Reply 9
Length of new course + 1 (gift year) - previous study
So if you take a new three-year course: 3 + 1 - 1 = 3
Similarly, if your new course is 4 years: 4 + 1 - 1 = 4
I was told by student finance that if I do my first year where I am then go to another uni I'll still have 3 years funding left, as I'll have already done one year. 🤷*♀️
Reply 10
Length of new course + 1 (gift year) - previous study
So if you take a new three-year course: 3 + 1 - 1 = 3
Similarly, if your new course is 4 years: 4 + 1 - 1 = 4
I'm currently doing a 3 year course and hoping to go to another uni and do similar if not same course, length and subject.
Sorry I should have worded it better. You don't 'just' have three years left. So if for example, you decided on a four-year integrated masters course instead of a three-year degree, the calculation above shows that you could be funded for that.
Reply 12
Ah I see, thank you. So basically I should be covered if I do 3 or 4 year course.
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