How to cancel student finance

If your plans change before the start of your course, you can amend or cancel your funding application. You’ll have to contact Student Finance England or the relevant administering body to process this.

Once the first term of university has started, as a full-time student who normally resides in England, Wales or Northern Ireland, you’ll still be liable for 25% of your tuition fee loan even if you decide to withdraw, transfer or suspend your studies at a later date. This percentage increases to 50% after the first day of the second term and 100% if you start the third term.

If you normally live in Scotland, where tuition fees are paid directly to the university in one instalment, and you plan to withdraw from your course before the set date, no tuition fee loan will be paid to you.

With maintenance loans, you’ll become liable for each instalment as soon as it’s paid (at the start of term). This includes any interest accrued, which will be added when you’re due to start your repayments.

You should speak to the relevant awarding body, such as Student Finance England, before making your decision. (more…)