Mature study and retraining
Student Finance question for returning oldie!
Carmelalefou · 04/05/2023 13:18
I am 57. I have a degree but obtained many moons ago in the late 80s. I am thinking of doing a Counselling diploma but wondering if i would qualify for studetn finance if I did a degree course instead.
It would be a part time course and I work and earn over the threshold for payback - does anyone know If I leave my job or my salary drops below the threshold do I have to continue paying it back or is it paused? Thank you!
CapaciousHag · 04/05/2023 18:37
Speaking from a position of very similar experience - you would surely be much better off doing a Masters course. Then, if you’re quick and start before you’re 60, you’d be eligible for a Government Postgraduate Loan. Loan repayment regs set out on website.
I also did my first degree in the 80s. Masters in middle age in a completely different subject. No problem at all in getting straight onto the postgraduate course. (With just a little amateur experience in the new subject.)
Funding for postgraduate study
Postgraduate funding - find grants, loans, studentships and scholarships.
https://www.gov.uk/funding-for-postgraduate-study
Carmelalefou · 09/05/2023 09:17
Yes, still don't know if I start paying loan back straight away (as its a part time course and I will be working and earning over the threshold) and also if I consequently leave my job so fall under the repayment threshold will I then have my repayments paused.
Thanks anyone!
It's a part time foundation degree with option to top up to a BA.
Carmelalefou · 09/05/2023 14:31
FannythePinkFlamingo · 09/05/2023 13:36
I'm pretty sure you can't get student finance for an undergraduate degree if you already hold one. You'd be better applying for a Masters and getting a Masters loan.
I think you can if you've never had a loan before.
Rummikub · 09/05/2023 14:38
This is from the SFE website:
If you’ve studied beforeYou’ll usually only get student finance if you’re doing your first higher education qualification - even if your previous course was self-funded. You may still be eligible for limited funding in certain circumstances and for some courses.
Carmelalefou · 09/05/2023 14:38
Rummikub · 09/05/2023 14:38
This is from the SFE website:
If you’ve studied beforeYou’ll usually only get student finance if you’re doing your first higher education qualification - even if your previous course was self-funded. You may still be eligible for limited funding in certain circumstances and for some courses.
Yes sorry its an 'approved' course
Rummikub · 09/05/2023 14:41
Think this answers your op:
The earliest you’ll start repaying is:
- the April after you leave your course
- the April 4 years after the course started if your course is longer than 4 years, for example if you’re studying part-time or doing a Postgraduate Doctoral course
- April 2026 if you’re on Plan 5
Your repayments automatically stop if either:
- you stop working
- your income goes below the threshold
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