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Postgraduate loan help please

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Hello, 

I have been accepted onto a Masters degree with a student loan covering the first 2 years. The whole cost of the Masters is £17200 and my loan is up to £11500. I actually don't need to do a full Masters, to get the career I want I can finish after year 2 with a PGDip which would be fully covered by my loan. Unfortunately SLC won't cover a PGDip only a Masters.

My question is can I drop out after year 2 with a PGDip without any financial consequences from SLC? The degree I'm on allows you to do this, it's just the loan implications I'm worried about.

Thanks in advance! 
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