Suspending studies
Hi, I am suspending due to health reasons, which I understand means I will get 60 days overpayment. Does anyone know if they calculate this by dividing the loan over 365 days, or just the days during term time. I will not get my third installment until the end of April, and if I suspend I will not get any of it, and my term ends 31 May, but I still owe around 2k for accommodation from February to currently, so will not be able to pay this if I do not get the full installment.
Reply 1
Hi there. The extra 60 days does not always mean you will get additional money. It can also be used to reduce any overpayment on your account.
For example: If you were paid the 2nd instalment for your 2nd term, this is supposed to cover you for the full 2nd term. However, if you suspend before the term ends this can cause an overpayment on your Maintenance Loan (ML).
What the extra 60 does is recalculate your ML from 60 days after your suspension. So, this may mean you will get some part of the 3rd instalment, but it depends on your term dates and the day of your last attendance we get form the university. Thanks, Leah.
For example: If you were paid the 2nd instalment for your 2nd term, this is supposed to cover you for the full 2nd term. However, if you suspend before the term ends this can cause an overpayment on your Maintenance Loan (ML).
What the extra 60 does is recalculate your ML from 60 days after your suspension. So, this may mean you will get some part of the 3rd instalment, but it depends on your term dates and the day of your last attendance we get form the university. Thanks, Leah.
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