Funding after dropping out of 1st degree

Mr_Stroopwafel

Hello moneysavers!

I'm very confused about this, I want to return to University at 23, having left whilst repeating the 2nd year.
Here is my situation
2003/04 Completed 1st year of University
2004/05 Completed 2nd year but failed
2005/06 Re-sat 2nd year then finally admitted defeat and left.

So apart from that time wasted, I am in quite a quandry.
I currently owe around £8000 to the student loan company, I have a total of £15000 in a cash ISA & savings account.
Do you know if I would recieve the same funding for a 3 year degree as if I was a new student? I can pay the £8000 back if I need to, but obviously I'd rather not. Though I am tempted just for the piece of mind, and out of a perhaps misplaced sense of "fairness"

When I say funding, I main the fee loan and maintenance loan, rather than any grants.

I think will have to speak to the student finance people, but I just wondered if anyone here has done the same. (I know it's quite a mess of a situation, and most people leave in the 1st year if they are going to...)

Thank you,
Matt

Lokolo

I think you can get upto 4 years (might be 5, don't rely on me for that!) of funding altogether, which leaves you with 1 year (or 2).

But, I don't think you can get tuition for the first year, numerous students who have dropped out and started again were allowed maintenance in the first year but not tuition.

If I were you I would ring student loans in about a month, when everything has calmed down. Its a little busy at the moment with late applicants etc.ec.

cardiffforthefacup

Hi Matt,
Thought I'd put my penneth worth in, look on the board for all the info about not paying your loan off quicker just because you can afford to. You will find that ISA handy in the near/far future.

As for funding, as you have already passed a first year of a degree course you will not be entitled to any tuition fee support, you may however get the maintenance loan,( I only got this as I had extenuating circumstances which I had to prove), worth asking your local LEA. Technically as you haven't passed the second year of a degree course you should be entitled to funding, (again this may be with an extenuating circumstance and possibly with the LEA funding the degree). So I would phone the LEA as soon as possible especially if you are going back this year as otherwise you may find you need to use your ISA sooner than you think.

I believe its possible to get NHS bursaries with certain courses if you have a leaning towards the health services and the funds aren't affected by your other studies, but don't quote me on that you would need to ask someone with knowledge on this, or look at other threads on the mse site.

studentsaver19

Something similar happened to me: I left uni after two semesters in 2008, and want to return for September 2009. Would I still get a tuition fees loan?

bestpud

There is four years funding available (five in some cases - four year courses usually) so they will probably only fund your final year.

You can access the maintenance loan for the three years, as far as I am aware.

I'm not convinced you paying off the loan wil help that much, but I have heard people say on here they were allowed to start again after paying off old debt. I'm really not sure how that works out tbh.

If you can pay it off and then start again, you will need to work out if it is cheaper to pay it off and get a new loan, or manage without funding and use your savings to pay the tuition fees. I wouldn't pay it off unless it makes sound financial sense - certainly think very carefully about it and look at it objectively!

Cardiffforthecup - I didn't think passing the first level was a barrier to future funding at that level per se? I say that because people change unis/course after the first year and still access the remaining three years funding all the time.

bestpud

studentsaver19 wrote: »

Something similar happened to me: I left uni after two semesters in 2008, and want to return for September 2009. Would I still get a tuition fees loan?

If you only recieved one years worth of funding and haven't had funding prior to 2008, then yeas you should get the full three years funded. You will have no further leeway though, funding wise.

currynchips

My situation is very similar. Basically I had done 2 full years - passed the course, plus half a semester where I dropped out. I receieved the loan payments once when I dropped out, and for the full 2 years. These were all general loans, before maintenance, tuition fee and grants came in.
This counted as 3 full years payments, same as the OP.
I do not get tuition fee loan OR maintenance grant for the first 2 years of my current course. My final year I can, this will be my 4th years study in total.

I DID get the maximum maintenance loan as I have supported myself for over
3 years(independent person), and I am getting a bursary from the university.
It works out at £5k loan and £1k bursary.

In your situation I would imagine much of the same would apply. If you don't qualify as 'independent', then the maintenance loan will be much reduced AND you definitely won't get any help with tuition fees. If you feel the degree is absolutely worth it in the long run, then I would get a loan, and be prepared to use your savings to support yourself through uni.

rexywins

what I understand sometimes it differs from each LEA but you can have two fails, and have to provide evidence of why you failed, such as any medical certificates, and also that you have a definate offer from you new course/uni

lilysgarden

You can definately get the full three years worth of student loans, but you won't get any tuition fee loans and as far as I'm aware, you don't get any bursaries at all. As for previous student loans, payments can be deferred until your earning over the allowed threshold on income again, so that would be after you graduate!

My boyfriend dropped out in the 2nd year more than 10 years before going back to uni and he only got the basic student loan.