University Loan Problems

johno22Scot

I received my matience loan & grant the 4th of april 08, and i mite decide to quit 2/3 months down the line, where do i stand on repayments,

Will they tell me i need to pay back the money i received in april 08 straight away as im not completing the year, i know the other money i pay back when im earning over the amount.

I don't actually have the money i have spent it. !

foofi22

It's probably best just to ask the SLC direct....and how can you spend all that money in less than two weeks?!

Lokolo

foofi22 wrote: »

It's probably best just to ask the SLC direct....and how can you spend all that money in less than two weeks?!

Well the points of 'quitting uni in first year' and 'spending £1k+ in 2 weeks' clearly shows they don't belong there lol

bestpud

Going on previous threads here, yes they may well ask for the grant back straight away.

Others though, have said they weren't asked for it!

I guess it just depends on your LEA.

Why do you think you 'may' leave. Have you spoken to anyone at uni about your options?

johno22Scot

didnt say 2 weeks lol

foofi22

johno22Scot wrote: »

I received my matience loan & grant the 4th of april 08

johno22Scot wrote:

I don't actually have the money i have spent it. !

johno22Scot wrote:

didnt say 2 weeks lol

Today's date is 16th April....that's less than 2 weeks!

Bestpud is right though, you should really talk to someone, whether a friend, tutor or even counsellor. Ask yourself why do you want to quit? (homesick/finance/friends/course?) Why in two or three months time?

MrsManda

Hi,
I was a student in 2003 and ended up having to quit. You need to tell the SLC as soon as you've officially quit that you are no longer a student.
For all the money they've given you up to that point you'll be classed having just finished uni so the same conditions apply as if you'd just graduated.
If they then continue paying in your loan each quarter they can ask for it back at any time so stick it in an easy access high interest account and LEAVE IT ALONE
I continued getting my loan for a year after I quit, despite my SLC account saying I'd discontinued my studies and they never asked for it back. Still got it in an ISA though ready to give back if they ask, which I suppose they may do now I'm applying for more loans to go back.

But please please please talk to your friends, tutors, etc... before giving it up.

I had to give up due to illness but I'm really lucky because I'm now financially stable and married to a wonderful man who doesn't mind me quitting work and becoming a lazy skiving student

Good luck in whatever you chose *hugs*

Gemmzie

Surely you might as well finish the year? You'll have to pay for it anyway so you might as well pass and get the certificate for the year.

roxalana

I'm a little confused why you are sure you will quit in 2-3 months? Is it that you plan to complete the year or leave just prior to exams.

As others have said - speak to the Uni welfare dept about your reasons for wanting to leave to make sure it is the right choice.

I beleive the LEA can ask for money back on a pro rata basis where you have been paid for a period where you ahd actually left. However, in practice some LEAs allow students to keep money where they have attended that term. I would approach this expecting it to be reclaimed so if you get to keep some it is a bonus.

It is worrying that you have spent your instalment already but I am assuming you were greatly overdrawn before the money came in, rather than spending it in one go...

In my exeperience the only time people continue to get paid instalments after they have quit is if the LEA isn't informed they have left and/or the Uni doesn't send the notification of student leaving study which LEAs need to make a student a leaver on the system to stop SLC payments.