Student loans

Slam62

Slam62

Slam62

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Right, I've got potentially a big problem.

A certain person in my life did a couple of years of a degree course a few years ago and then decided they didn't like it so stopped, they now want to do a course.
Where would they stand getting a student loan, ?

I have read that you lose the 2 years you have done but can get a loan for your course length plus one.
This would leave them with an unfunded year which could cost 14k, 5k accommodation and 9k fees.

Has anyone experience of this sort of situation? Have I got roughly the right idea?
 
Your best bet is to contact the SLC and find out exactly where you stand.

After you have the full facts, you'll be able to approach the university and find out what financial assistance they offer should you need it.
 
Ask SLC as they'll know best. They might just add what's there to a new loan or treat them both separately depending how long ago this was.
 
I used to work at SLC in a former life as an assessor :) It was a lot of years ago now so things might have changed, but as it was then you are right that any used years will be counted towards the entitlement of course +1 for part of the award.

There are also other factors. Does said person have any other degree level qualification?

Are they applying for loan only or loan and grant? Also do they have any kids or disabilities?

*edit*

Also you might find this useful in terms of defining that previous period of study:

http://www.legislation.gov.uk/uksi/2011/1986/regulation/12/made
 
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plenty of options if this person is motivated

max out the loans you can get - do a couple of well paid summer internships to cover the unfunded year... and/or work part time during first two years... you get bags of holiday at university and unless you're studying medicine part time work ought to be doable in the first year at the very least

if it isn't a degree that is likely to lend itself to well paid summer internships then you can also do some other form of work in the summer holidays... plenty of holiday remember!

depending on the subject/university you want to study full time at - maybe study for a couple of years part time to cover the first year then transfer to a brick university for the final two years and use the 2 years of loans for those

lastly - just do the whole thing part time/distance learning - OU, London International Program, Birkbeck etc..

do they need to move away from their current home - could they save money by going to a local uni and living with parents?
 
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Well I don't want to be too specific, but it is automotive/transport design.

But some very useful info in here, so thanks again.

So the final question (maybe) is in this persons first attempt at study, they came under the old tuition fee structure. Now obviously, they fall under the more expensive system. For some reason, which I don't buy, there is a feeling that because they started under the old system they would continue with those costs (say 4k tuition fees).

Has anyone any experience of this situation?
 
dowie said:
might help if you gave the subject
Click to expand...

Why? What impact on the funding situation does the subject make?

Slam62 said:
So the final question (maybe) is in this persons first attempt at study, they came under the old tuition fee structure. Now obviously, they fall under the more expensive system. For some reason, which I don't buy, there is a feeling that because they started under the old system they would continue with those costs (say 4k tuition fees).
Click to expand...

No, they'll have to pay whatever the uni charges for tuition fees. Also, now there are no maintenance grants (i.e. non repayable), only maintenance loans (which have to be repaid). Re the length of funding available, they've used up 2 years of SLC funding, they have 2 years SLC funding left.

Has anyone any experience of this situation?
Click to expand...

Yes, last year I helped a fellow student through the SLC application process for virtually the same scenario as yours.
 
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BDEE said:
Some specific courses attract different rules around funding levels. Social work, as an example.
Click to expand...

Very true. For me (four year course) because of the classification of the fourth year, mine gets classed as an undergraduate year rather than a postgraduate, although the second half is all research. Silly, but handy to me. :)
 
Hmm OK thanks again.

They are going to do a foundation year first and then a 3 year degree,

I believe SLC will fund 3+1-2= 2years:(

But might they count the foundation year as a year of the course and so fund 4+1-2=3

Just clinging to hope here.

Looks like I'm going to have to fund a fair bit for them though, :(
 
Wild assumptions here but if this is all happening typical ages and this other person is your partner, think long and hard before sponsoring them. The number of relationships I saw break down in my social circles in early 20s as people changed, finished uni etc. would lead me to be extremely cautious.

If my guess is wrong and you're talking a child or something then that's obviously completely different and I wouldn't hesitate to support my child if I could. I'd need a child first though.
 
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I do know of one person who funded a girlfriend through university... she moved in with him etc.. and sure enough, once she'd got her new grad job, she moved on... Did she pay him back? Nope!
 
dowie said:
I do know of one person who funded a girlfriend through university... she moved in with him etc.. and sure enough, once she'd got her new grad job, she moved on... Did she pay him back? Nope!
Click to expand...

Ouch.

My friend had a girlfriend who was studying nearby where he lived (opposite ends of the country) so he used to help her out with transport and things. As soon as she graduated, she broke up too. Don't think there was money involved, though!
 
You also have to fund the initial years yourself I believe. Just to make sure you are serious about completing the course.
 
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