Advanced Learner Loan Help!

14
Found 30th Apr
So I was thinking about dropping out of college as the course isn’t working for me, but while I spoke to student finance they had stated I’ll have to repay the remaining loan in full within 2 weeks out of my own pocket.



Need clarification whether this is right? As they said if it’s not paid within 2 weeks they’ll send debt collectors round.


All seems a bit odd if it’s right, if not where could I go for help.
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There is no mention of that on the website or on the pdf file.
Out of my own pocket.

Ask if you can repay it out of someone else's pocket?.
As per their website:
Repayments start the April after you complete or withdraw from your course.
You pay back your loan (plus interest) when you finish your course and earn more than £25,000 a year. Your repayments will stop if your income drops below £25,000 a year.

I would recommend phoning them again and asking to speak to a manager to clarify.
If you drop off or fail the course you have to start paying it back soon after rather than when you earn 25k but it's only what you can afford each month
Dropping Out. I haven't heard that phrase for a long time.

I don't know your personal circumstances but on the whole fixing the Drop outs has been one of the better things about Student Loans.

Have you talked to the Principle and lecturers to see if there is an option to migrate to a different course without walking away with debts?
UK Yr1 drop out rates vary between 1 and 19% depending on University. I think the average is about 6%. Over the 3 years, that rises to 10% average. This doesn't even take into account those that switch courses and incur an extra years loans. The OP is not alone and it is a real shame that our kids are pressured into the sausage machine of higher education without enough thought, research and guidance to select a suitable course.
OP they aren't sending the debt collectors round, the loan repayments come of your salary when you earn more than 25k, assuming you are a standard UK student on Plan 2.
Edited by: "airbus330" 1st May
I don't doubt there area few who make an honest mistake but I have seen several potential Drop Outs benefit greatly from the acidic realisation that the world is actually a harsh place and that extracting their digits to achieve a good degree shows character and guts that are valued commodities to an employer.

Be interesting to see what happens this year and going forward. As the parent of an 18 year old just about to take A levels, I am hearing a lot of his mates making a very conscious decision to go for apprenticeships (or the Forces) rather than acquire debt in return for a nebulous degree from a Breeze Block university.
mark.lee12 h, 22 m ago

As per their website: Repayments start the April after you complete or …As per their website: Repayments start the April after you complete or withdraw from your course.You pay back your loan (plus interest) when you finish your course and earn more than £25,000 a year. Your repayments will stop if your income drops below £25,000 a year. I would recommend phoning them again and asking to speak to a manager to clarify.


Spoken to the finance team, and they’ve stated, it has to be paid back immediately, whether your working or not, which doesn’t make any sense.
jjmmww16 h, 3 m ago

If you drop off or fail the course you have to start paying it back soon …If you drop off or fail the course you have to start paying it back soon after rather than when you earn 25k but it's only what you can afford each month


They’ve said you have to pay it back as soon as if your working or not
which finance team? This is with the student loan company?
There was a scam of people signing up for courses and taking out the loans, never to be seen again. It might be aimed at stopping that sort of thing
mas994 h, 36 m ago

which finance team? This is with the student loan company?


College finance team
deals83812 h, 48 m ago

College finance team


Ok this isnt a standard SLC loan is it.

Contact student finance on this link and talk to them. It does seem that you have to repay any money paid to the college if you quit after 2 weeks.

gov.uk/con…and
Advanced Learner Loan Telephone: 0300 100 0619
Monday to Friday, 8am to 8pm
Saturday and Sunday, 9am to 4pm

Are you looking to transfer to another course or packing in totally? I cant see anything that says you have to repay immediatly, but you are on the hook to make repayments.
Edited by: "mas99" 2nd May
mas999 h, 58 m ago

Ok this isnt a standard SLC loan is it.Contact student finance on this …Ok this isnt a standard SLC loan is it.Contact student finance on this link and talk to them. It does seem that you have to repay any money paid to the college if you quit after 2 weeks.https://www.gov.uk/contact-student-finance-englandAdvanced Learner Loan Telephone: 0300 100 0619 Monday to Friday, 8am to 8pm Saturday and Sunday, 9am to 4pmAre you looking to transfer to another course or packing in totally? I cant see anything that says you have to repay immediatly, but you are on the hook to make repayments.


I’ve contacted them, they can’t do nothing other than stopping the loan payment, and then they said you have to speak to tour college as they’ve must have got a contract in place of you drop out, also it’s been more than 2 weeks since I started the course.



Only problem is the college aren’t fussed if your working or not they want loan repayments made ASAP
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