dropping out of degree courses

ktj

Hi,

My daughter will be going to Uni in the near future. I find the cost of this daunting.

We've been reading up about the student loan, but one thing that isn't clear is what happens if a student fails to complete their course?

Do they have to repay their loan immediately or just when they have a job and an income over £21,000?

I find the thought of her committing to so much debt terrifying and so I want to be sure that we understand all possible outcomes

Thanks in advance for any advice that you can give. kje.

spacey2012

The days of University as a Facebook boast or tag are over, it just has not sunk in yet for many.
Unless they are set for a course that guarantees a better paid job then a cornflakes box degree is a waste of time and a massive strain on parents.

£21,000 is an enormous amount of debt to be in for anyone.
If she is tip top bright with a clear job path and knows the degree she needs then it is a consideration, if it is just for something to do that might help job prospects then finding work is a far better option these days.

Lokolo

There are 2 parts the student finance; Loan and Grants.

Should your daughter drop out, loans will go through the normal repayment method of 9% over £21k.

However, should your daughter drop out mid way through the year, any grants would need to be repaid fully on dropping out.

spacey2012 wrote: »

The days of University as a Facebook boast or tag are over, it just has not sunk in yet for many.
Unless they are set for a course that guarantees a better paid job then a cornflakes box degree is a waste of time and a massive strain on parents.

Not quite sure it has any strain on parents, its the children that are paying, not the parents.

As for the rest of your post, it has nothing to do with the OPs question. In future, stick to what the question is.

ktj

Hi,

Thanks Lokolo for your helpful info. It's much appreciated.

It's unlikely that my daughter will drop out - she is an excellent student, but you can never know what the future holds and when she is embarking on something that will result in her incurring significant debt, I want to be sure that we have researched every aspect. Anyway thanks again. kje.

NotSureWhatDayItIs

ktj wrote: »

Hi,

My daughter will be going to Uni in the near future. I find the cost of this daunting.

We've been reading up about the student loan, but one thing that isn't clear is what happens if a student fails to complete their course?

Thanks in advance for any advice that you can give. kje.

Having been there and done this only this month...

If they leave before the end of the first term Student Loans don't pay the money to the university for the fees and also reclaim the balance of the first terms maintenance grant they paid out. I got a letter this week from Student Loans wanting the full outstanding amount. I've not had a letter about the tuition fee from uni and not sure what is happening about that as student loans haven't paid the tuition fee.

If she completes a term it gets repaid the same as if she completed the course.

Dunroamin

ktj wrote: »

Hi,

Thanks Lokolo for your helpful info. It's much appreciated.

It's unlikely that my daughter will drop out - she is an excellent student, but you can never know what the future holds and when she is embarking on something that will result in her incurring significant debt, I want to be sure that we have researched every aspect. Anyway thanks again. kje.

That's the positive aspect of student loans. If the unexpected does happen (illness, redundancy, pregnancy etc.) then no repayments will need to be made unless or until the person is earning over the threshold.

Prothet_of_Doom

I've always been motivated by fear. I'd get a 1st these days.

fishybusiness

If she is tip top bright with a clear job path and knows the degree she needs then it is a consideration, if it is just for something to do that might help job prospects then finding work is a far better option these days.

The message seems to be that if you are an averagely intelligent person, that is not sure of what they want to do, and not sure just how to get it, then don´t bother with university, it just is not worth it.

All you normal people....don´t bother!

Stay at home with your averagely intelligent CV and hope for the best.

Degree or no degree, jobs are not easy to come by, but if a person wants to be educated, and work in an educated world, IMO it is worth it.

A degree can fulfil a set of personal goals, change a person´s outlook, introduce influences and peer groups that are positive for a young person´s future.

Dunroamin

fishybusiness wrote: »

The message seems to be that if you are an averagely intelligent person, that is not sure of what they want to do, and not sure just how to get it, then don´t bother with university, it just is not worth it.

All you normal people....don´t bother!

Stay at home with your averagely intelligent CV and hope for the best.

Degree or no degree, jobs are not easy to come by, but if a person wants to be educated, and work in an educated world, IMO it is worth it.

A degree can fulfil a set of personal goals, change a person´s outlook, introduce influences and peer groups that are positive for a young person´s future.

It's perfectly possible to be educated without doing a degree. Non academic students may well have a more lucrative and fulfilling career by undertaking vocational education (which can lead ultimately to a degree anyway) and not becoming burdened by student debt.

Considering a degree to be the only means of being educated is rather narrow minded and elitist.

fishybusiness

Non academic students may well have a more lucrative and fulfilling career by undertaking vocational education

Yes, they may, and no one, including myself is making a distinction between academic or non academic students, or abilities.

Considering a degree to be the only means of being educated is rather narrow minded and elitist.

OP said her daughter WILL be going to university. I was arguing in favour of OP´s daughter going to university, and all that it could bring, including positives that are outside the remit of simply holding a degree certificate.

I was also arguing against this point...

If she is tip top bright with a clear job path and knows the degree she needs then it is a consideration, if it is just for something to do that might help job prospects then finding work is a far better option these days.

I was educated through apprenticeship, ONC & HNC, and it served me well.

Taking on a degree took my thinking in a different direction. I agree, both are legitimate, and worthy. The difficulty perhaps is getting in to the vocational system, and getting experience as well, especially if jobs are not available for all.

SlimmingSusan

spacey2012 wrote: »

The days of University as a Facebook boast or tag are over, it just has not sunk in yet for many.
Unless they are set for a course that guarantees a better paid job then a cornflakes box degree is a waste of time and a massive strain on parents.

£21,000 is an enormous amount of debt to be in for anyone.
If she is tip top bright with a clear job path and knows the degree she needs then it is a consideration, if it is just for something to do that might help job prospects then finding work is a far better option these days.

What is a cornflakes box degree please?