Help With Student Loans - HERE!

MonsterMunch08

Apologies if you have already answered this question, I didnt want to spend all night looking through the 51 pages.

I started uni in sept so have recieved 2 loan installments.

I am now giving up uni. When will they ask me to pay the loan back?

When I am earning 15k? Or right away?

I hope to return to uni in a few years.. if they will let me

Lokolo

MonsterMunch08 wrote: »

Apologies if you have already answered this question, I didnt want to spend all night looking through the 51 pages.

I started uni in sept so have recieved 2 loan installments.

I am now giving up uni. When will they ask me to pay the loan back?

When I am earning 15k? Or right away?

I hope to return to uni in a few years.. if they will let me

Grants are repayable straight away.

Loans when earning £15k. However, my friend who left halfway got asked to pay back some loan as he left at the beginning of term after he just got another installment. Although I haven't heard of it elsewhere...

Oldernotwiser

As above, although I think it normal to ask for part of the loan back immediately if you leave before the end of the period it's supposed to cover.

MonsterMunch08

They ask for the bursary back aswell? The reason I ask is I got my loan today, I am seeing tutor about leaving tomorrow. I wanted to take a year out... but am pregnant. So actually need 2 years out Its a career I want to go back into.
Due to my current circumstances I have spent some of my loan on rent, food, essential bills and my son. Silly I know... but I have been told benefits may take a month for anything to come through.. and was so stressed and worried I had to use it.
My husband left me on boxing day... and my son is very young... he is upset and unsettled by whats happened and I am left with debt.
There is no way I can continue my course right now, I just hope to god they let me go back when I can.
But now I am so worried over the loan and bursary.

MrsManda

They can ask for the most recent payments (bursary and loans) back immediately as they'll be classed as an overpayment. Other loan payments are repayable once you earn over £15k.
But I've found the SFE quite understanding in the past with changes of circumstances so please don't worry too much about it until you've had a chance to speak to your university and student support.When you speak to your tutor, if you are certain you can not continue the year see if you can get a deferral rather simply dropping out. It'll make it easier to go back.

*many hugs*

MonsterMunch08

Thanks hun. I was told a year deferal is ok. But baby will be 1 month old then... so not really any way I can do that either. 2 years would be ace, but doubt they will be able to do that. Unless I can defer for one year, and then defer again... I dunno.
Its my dream career and its breaking my heart having to drop out, but I know it needs to be done for the sake of my son and my unborn.
Just will be gutted if they make me repay this installement straight away, as I no longer have it to give. *sigh*... life can be so frustrating sometimes lol. But I SHALL get there one day x

Oldernotwiser

If you're planning on claiming means tested benefits, I think you'll find that they'll take the money you've already received for this period into account, otherwise you'll be getting two lots of help for the same time. Sorry.

MonsterMunch08

Older I will be applying for income support, and cancelling my nhs bursary and loan as will no longer be studying. The extra I will have had is the loan I have just used... until Income support claim has gone through and started. If that makes sense.

Oldernotwiser

MonsterMunch08 wrote: »

Older I will be applying for income support, and cancelling my nhs bursary and loan as will no longer be studying. The extra I will have had is the loan I have just used... until Income support claim has gone through and started. If that makes sense.

Sorry, not sure I'm with you on that. I think that if your loan is supposed to cover you until April (just as an example) it'll be counted as income until then.

I'm not totally sure and just wanted to warn you but I'd suggest you repost this on the Benefits Board where there are people who know more about it than I do.

MonsterMunch08

Oh really? I didnt think of that? I just presumed they would ask for it back (possibly).. Im not sure really. Its all a bit confusing. Like they want proof my husband has left me.. how do I prove that lol. Unless I let them come and see for themselves. lol