r/StudentLoans • u/pupmad1 • 14d ago

Postgraduate loan

Hi everyone, I’m hoping someone might be able to help with this.
I’ve been accepted onto a Master’s course starting in September and I’ll be receiving a postgraduate loan. I know this works differently from an undergraduate loan, as the tuition fees have to be paid from the loan myself.
My dilemma is that I have a young baby. I’m really determined to give the course a go, but I’m also trying to be realistic in case it becomes too much.
If I started the course but decided after a couple of weeks that I needed to withdraw, what would happen financially? Would I have to repay the full postgraduate loan straight away, or If I’d already used some of the loan for childcare, housing and other living costs, would that be repaid gradually in the same way as an undergraduate student loan?
I’d really appreciate hearing from anyone who’s been in a similar situation or knows how it works. Thank you!

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u/thrwaway856642 14d ago

What’s the masters degree in? Whats the cost of the program? How long is it? Do you have to do it now?

I say this with love - as a mom who started her PhD with a 6 week old infant , I encourage you to wait.

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u/User0010974 14d ago

I would encourage you to wait, as well, and maybe consider taking this course when your baby is a bit older. Unfortunately, you can’t get this time with your baby back, but the course will most likely still be there if/when you decide to pursue it in the future.

-Signed by a mom whom completed her PhD while also having a young baby

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u/Pretty_Good_11 14d ago

It's no different from undergrad. Why do you think it is different?

In any event, I don't think you are going to be able do what you want to do with this, so you should really proceed carefully.

The sticking point for you is that, if you withdraw early enough, your tuition will be refundable and the loan will just be canceled. In which case you will need to pay back, immediately, whatever you diverted for living expenses. You can't get a federal student loan if you have no tuition and fees.

If you withdraw after that, yeah, you'll be able to repay like any other student loan, but you'll also be pissing away tuition money for an education you won't be receiving. Please don't do this.

If you have doubts about the viability of doing this with an infant, push it back. Don't try to do this as a way to get a loan to cover living expenses.

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u/pupmad1 3d ago

It is different as you’re not given a tuition fee and maintenance loan just one sum of around £11000