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Thinking of leaving college - advice please
MDTyKe
Posts: 17 Forumite
Hey,
I am currently in my 3rd year of my degree (of 4), but Im actually planning on leaving to pursue self-employment. So, I am leaving in the next week or so, ie: mid-semester. I owe around 7000 GBP to the SLC.
Can anyone advise me on how this all works? I will be doing self-employment until September when I'm moving to the USA to do voluntary work for 6 months, ie: non-paid work. Will I have to pay back in-lump this years so far? What should I tell them (my college aren't particularly good at keeping records, so as far as they're concerned I'll probably be there until the end of May.. I know people getting grants and they haven't been there in over a year!) I was thikning I could take it, and put it into an ISA to invest and then use it to pay back some?
Any ideas?
Thanks
Matt
I am currently in my 3rd year of my degree (of 4), but Im actually planning on leaving to pursue self-employment. So, I am leaving in the next week or so, ie: mid-semester. I owe around 7000 GBP to the SLC.
Can anyone advise me on how this all works? I will be doing self-employment until September when I'm moving to the USA to do voluntary work for 6 months, ie: non-paid work. Will I have to pay back in-lump this years so far? What should I tell them (my college aren't particularly good at keeping records, so as far as they're concerned I'll probably be there until the end of May.. I know people getting grants and they haven't been there in over a year!) I was thikning I could take it, and put it into an ISA to invest and then use it to pay back some?
Any ideas?
Thanks
Matt
0
Comments
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As far as I know the minimum earnings threshold for paying back a student loan is £15k per annum so you should be OK for a while.0
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Leave via a fire exit?0
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Is there a reason why you need to leave now to do this? Would you not be better off leaving it until at least the end of this year?
I'm sure you've thought it through, just wanted to check!**"Cheer up, it could get worse" - I cheered up, and look, it got worse!**0 -
Hey,
Yea I'm leaving to start up my own business; want to get things rolling as I have to go to NY for 6 months in September.
I also have/had to work work experience for 5 months next semester (jan-may); I want going to work for 10 euro an hour (studying in ROI, live in NI); as that is terrible pay over here. Nor am I prepared to face the upcoming exams.. as I figured if I want to finish/complete my degree in the future, I'd rather repeat the last 2 years than just 1 or 1.5 years, to help me flow in better.
Matt0 -
Sounds fair! Wasn't questioning your decision, just incredibly nosy
**"Cheer up, it could get worse" - I cheered up, and look, it got worse!**0
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