An OU Installment payment plan question

mountainofdebt

Hi

In previous years when a student signed up for a course and opted to pay for it through the installment plan, if they then subsequently withdrew before the course started nothing was owed.

Is this still the case? Only from what I've read today, you could still owe the money if you withdrew from the course before it started

I have phoned the OU today but the guy who I spoke to didn't know, and I'm abit wary signing up for a course when I'm notsure what my employment prospects are going to be.

mountainofdebt

Am now further confused.

I rang the OU in the week and the lady told me that provided that I cancelled my registration before the start of the course then I wouldn't owe a penny - great I thought.

Have, today received the paper work from the OU finance department and it states that I have only 14 days to cancel

Is there anyone who knows for sure what the position is?

Oldernotwiser

I know that you're registration doesn't commit you to actually starting the course but I haven't come across the situation where installments are involved.

The OU website says,

"Refunds
We hope you won’t need to, but if you’re thinking about withdrawing from a course, contact us. You may be entitled to a refund or discount on future courses.

Generally, the following terms apply:
If you cancel before the start date, 100% of your fee will be refunded.
If you're new to the Open University, are studying a Level 1 course and cancel during the first third of the course, 50% of your fee will be refunded. If you’ve studied with us before, you won’t be entitled to a refund if you cancel after your course starts.
If you cancel after your course starts you may be entitled to a discount on future courses for a limited period. Conditions apply, so please contact us for more information."

Does that tie in with the information you've received?

mountainofdebt

ONW
thanks for the reply and yes to a certain extent but....

the installment payments are to the OUSBA ( Open Universit Student Budget Account) people and the agreement that I've had from them states the amount of the course, the monthly repayments and interest charged. What is confusing me is if the condition above applies (ie if I withdraw from the course before it beginning I don't owe the OU per se then would I owe the OUSBA people money, even though I'm not doing the course?

Oldernotwiser

mountainofdebt wrote: »

ONW
thanks for the reply and yes to a certain extent but....

the installment payments are to the OUSBA ( Open Universit Student Budget Account) people and the agreement that I've had from them states the amount of the course, the monthly repayments and interest charged. What is confusing me is if the condition above applies (ie if I withdraw from the course before it beginning I don't owe the OU per se then would I owe the OUSBA people money, even though I'm not doing the course?

I knew it didn't fully answer your question - I just hoped it was a pointer. I do understand your difficulty.

skylight

They mean its the credit agreement you have 14 days to cancel it in as it reflects on your credit file after then. The course is only charged to the OUSBA account once around the start date, so if you don't start it then nothing is charged.

If you withdrew after the course started and after its charged to the OUSBA account and under the rules the course is not refundable then you still owe the OUSBA people.

Does that help a bit?

mountainofdebt

Thanks for that skylight - now why couldn't they say that????