In a worst case situation, a student dropping out of University during their first year could have to pay the full £9,250 tuition fee with a maximum £8,944 maintenance loan repayment on top of that too. That adds up to £18,194 and, if you were to be studying in London, that would rise to £20,992. The total cost can depend on where the student is studying, their living situation, bursaries and/or grants.
Of course, students don’t have to pay this back at one time, the same pay-back rules as students who stay at University apply to them. However, with 6.4% of undergraduate students in the UK not finishing their studies, according to the Higher Education Statistics Agency, it’s a lot of money being wasted.
Which? have urged students again to spend extra time considering their University course selection. Managing director, Alex Hayman, commented: “While not every situation that leads to dropping out from university can be avoided, there are steps that you can take to reduce the likelihood of regretting your university choices.”
“Research your options thoroughly, take your time making your decision, and don’t be swayed by external pressures or influences – so you choose the path that’s right for you.”
It seems to be more than an issue of cost when dropping out too. Which? University conducted another survey which pointed to one in four graduates saying they would not select their same course if able to go back in time. Worrying trends for student satisfaction.