Student Finance: Anyone left a course early...

Morata_

??
My son is thinking of leaving his PGCE after just a few weeks, but is concerned about the £££ he has borrowoed, and how SFE will want him to repay it?

Has anyone left a degree course or a PGCE and help in this situation???

Thanks

[Deleted User]

When I left I was required to immediately pay back grants and loans that I'd received.

Morata_

Really?

How soon did you leave into the course?

I’ve heard you can set up payment plans if you’ve spent the money and under 10 weeks into course?

I simply couldn’t pay back in one lump sum!!

Ed-1

Morata_ wrote: »

Really?

How soon did you leave into the course?

I’ve heard you can set up payment plans if you’ve spent the money and under 10 weeks into course?

I simply couldn’t pay back in one lump sum!!

Your son is only entitled to an amount for the period he was on the course.

The entitlement will be recalculated from 1st September to withdrawal date (full entitlement for the year divided by 365 multiplied by the number of days since 1st September to withdrawal date). Any maintenance loan received in excess of this is repayable immediately. SFE may negotiate a payment plan.

Morata_

Ok.

So the full is 16k (loans & maintenance) do divide that by 365 days and right now he’s giving it till end of October so that’s roughly 8 weeks. (8x5 days = 40 days.

16,000/365x40=£1753.

He’s already received £5.5k in fees & grants for the first term. (Next payment is Jan.)

So he’s been paid £3.25k in excess so they will want that back instantly and the £1.753k back in a payment scheme??

Morata_

Unfor due to mortgages and bills a good 2 to 3k will be spent. He will also have the added worry of being unemployed and with 3 children he won’t have any money coming in, especially if SFE want it all back, lump sum!! Nightmare situation!

Ed-1

Morata_ wrote: »

Ok.

So the full is 16k (loans & maintenance) do divide that by 365 days and right now he’s giving it till end of October so that’s roughly 8 weeks. (8x5 days = 40 days.

16,000/365x40=£1753.

He’s already received £5.5k in fees & grants for the first term. (Next payment is Jan.)

So he’s been paid £3.25k in excess so they will want that back instantly and the £1.753k back in a payment scheme??

This only applies to maintenance loans/grants.

Tuition fee loan entitlement is different. You only need to be present on the first day of each term to be eligible for 25%, 25% and 50% portions of the fee loan (and that is also the maximum you can be charged by the university).

[Deleted User]

Morata_ wrote: »

Unfor due to mortgages and bills a good 2 to 3k will be spent. He will also have the added worry of being unemployed and with 3 children he won’t have any money coming in, especially if SFE want it all back, lump sum!! Nightmare situation!

If he knows he's leaving why is he spending the money? I realise he has bills to pay but he's spending money that's not his and needs repaying so getting himself into debt!

Morata_

He’s going to give it a fair chance. His first placements are in Oct so would have experience of both uni and school so will know if Primary is for him! Thanks for all your advice!

Been informed payments plans are the norm and people have been known to pay £13 or £25 a month and 2/3 years on, it’s still being paid back!

[Deleted User]

Crikey, I left mid year and owed £2k and they wanted it back immediately. I had most of it so paid what I could then paid the rest a month or so later.

He might change his mind once on placement, he'll get a feel for the actual job not the theory which is completely different.

Morata_

What year did you leave _shel? Was it a PGCE?

Yeah that’s exactly what I said, the theory and actual role may be very different!

Hopefully he gets on with the course but if not it’s all a little uncertain regarding debt??