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Uni drop out...loan question
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bungalow_bill
Posts: 86 Forumite


Hi all,
If a student drops out after one year, when does the loan have to be paid back? Is it still once earnings reach 15K or straight away? If student then switches to another course, do they get more loan for three years, or do you only get three years overall?
Thx
If a student drops out after one year, when does the loan have to be paid back? Is it still once earnings reach 15K or straight away? If student then switches to another course, do they get more loan for three years, or do you only get three years overall?
Thx
0
Comments
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I think it's a maximum of 5 years funding, but you're only allowed to restart once.
Have you looked on the Student Loans Website?0 -
It's length of course plus one year minus previous years studied.Sealed pot challenge #232. Gold stars from Sue-UU - :staradmin :staradmin £75.29 banked
50p saver #40 £20 banked
Virtual sealed pot #178 £80.250 -
You are liable to repay the loans you've taken out from the April after you finish/drop out of your degree. You will start repaying when you are earning over £15,000.
If you receive grants which you are not entitled to, i.e. if you drop out in March but still get the loans/grants in April you may need to pay those back immediately.
As SH1305 said, unless you leave due to extenuating circumstances you will be able to get funding for another course which is the length of the new course minus the years you've already been funded.0 -
I think it's a maximum of 5 years funding, but you're only allowed to restart once.
Have you looked on the Student Loans Website?
Maximum is 4 years from the student finance company, and also depends what type of course it is. NHS courses aren't restricted by the 4 year limit.TSB: £4900
Virgin: £4700
Today is the first day of the rest of my life...0 -
I think I may be in a similar situation.
I decided to change my course from Maths to Maths & Computer Science last March when I was in my second year. (Easier said than done!) This meant that I had to leave the University and will be starting again this October. I have to study part-time for a year to do my Year 1 Computer Science modules, then will be full-time for another 2 years. This means that I'll be in uni for 5 years. SLC told me that they would only fund me for 4 years, so I am supporting myself for my part-time year. The general rule is the length of your course plus one 'resit' year.
As I left the university in the second term I was told that I would need to repay some of the loan and grant that I received. For the moment they have told me that they will take the money I owe off my loan/grant for 2011/12, but this is still to be decided.
If you have completed the year then there is no reason for them to ask for any money back straight away.
My advice is to contact SLC, and talk to your tutors and student finance office to get as much information as you can.
Another thing to consider is your student status. As I am on a 'leave of absence' I am not offically a student and have to pay council tax until I return (but you can apply for benefits if you're not working).
Complicated!
On the other hand, my housemate changed to a different course after not doing too well in his first year exams and found it quite simple to switch. It's much easier if you decide before you start second year, trust me! But don't stick with a course you don't like just for the sake of saving money/hassle, it's won't be worth it!0 -
Maximum is 4 years from the student finance company, and also depends what type of course it is. NHS courses aren't restricted by the 4 year limit.
You couldn't possibly be more wrong.
Entitlement is length of course plus one less any previous years a student has been in attendance, but not counting time where the student was awarded compelling personal reasons.0 -
You couldn't possibly be more wrong.
Entitlement is length of course plus one less any previous years a student has been in attendance, but not counting time where the student was awarded compelling personal reasons.
Thats what I said, the OP was talking about a degree which is average of 3 years, an extra year is for any false starts. Other circumstances are taken into consideration, but are rarely accepted. So average funding for a average degree is 4 years. read before you get on your high horseTSB: £4900
Virgin: £4700
Today is the first day of the rest of my life...0 -
Thats what I said, the OP was talking about a degree which is average of 3 years, an extra year is for any false starts. Other circumstances are taken into consideration, but are rarely accepted. So average funding for a average degree is 4 years. read before you get on your high horse
I read it the same way Taiko did - it looked like you were saying you only get 4 years funding.Sealed pot challenge #232. Gold stars from Sue-UU - :staradmin :staradmin £75.29 banked
50p saver #40 £20 banked
Virtual sealed pot #178 £80.250 -
Thats what I said, the OP was talking about a degree which is average of 3 years, an extra year is for any false starts. Other circumstances are taken into consideration, but are rarely accepted. So average funding for a average degree is 4 years. read before you get on your high horse
Looking down from up here, you're still wrong though.0 -
Hi everyone!
Just a quick question, back in 2008 i started a Fnd course but dropped out within two weeks, I was paid my first grant payment of £945 and used it, I now have been accepted to a course this year and wanted to ask whether I am liable for repayment ? I have been paying it of bit by bit but still stands at £700, will it get de-ducted or written off?
Thanks in advance0
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