How to Cancel Student Finance

If your circumstances have changed and you no longer need your student loan or grant, you may want to cancel your student finance. Whether you're leaving your course, deferring, switching universities or funding your studies in another way, it's important to formally notify Student Finance England (SFE) or the relevant body to stop further payments.

This guide explains how to cancel student finance, how to stop future instalments, and what happens to money already paid.

Stopping Your Student Finance

You may need to cancel your student finance if:

• You decide to withdraw from your course

• You defer or suspend your studies

• You change to a course that doesn’t require funding

• You no longer meet the eligibility criteria

• You have secured private funding or are self-financing your studies

It’s your responsibility to notify Student Finance England or Student Finance Wales, Northern Ireland or Scotland, depending on where you're funded.

How to Stop Your Student Finance Payments

To cancel your student finance, you need to:

1. Contact your university or college first and inform them that you're withdrawing, suspending, or changing your course. They will notify the Student Loans Company (SLC), but it’s also important that you contact SFE directly.

2. Call Student Finance England on 0300 100 0607 or log into your online account to notify them of the change.

3. If your course hasn’t started yet and you want to cancel your application entirely, you can cancel it directly through your SFE online account.

The sooner you notify them, the more likely you are to prevent the next loan or grant instalment from being released.

What If a Payment Has Already Been Made?

If student finance has already been paid for the term or academic year, and you withdraw part way through, you may need to repay some or all of the funding.

This depends on the date you leave your course and how much funding you’ve received. The Student Loans Company will contact you to explain how much of the loan or grant needs to be repaid.

In some cases, your university may also ask you to return funds such as a bursary or maintenance loan if it was overpaid.

Repaying Your Student Finance

If you've already received some of your student loan, you do not need to repay it immediately unless:

• You’ve received an overpayment or

• You were ineligible to receive it in the first place

Normal student loan repayments begin the April after you finish or leave your course, and only if you're earning above the repayment threshold. However, if you cancel before the course begins and haven’t received any funding yet, no repayments are required.

You can make voluntary repayments at any time through your SLC account or contact them directly to arrange a repayment schedule if needed.

What If I Change Course or University?

If you're switching courses or transferring to another university, you don't necessarily need to cancel your student finance, but you must update your application with the new course and institution details. This can be done via your online SFE account.

Failing to do this may delay future payments or cause incorrect assessments.

Final Thoughts

Cancelling your student finance is a straightforward process, but it must be done properly and as soon as possible. Notify both your university and Student Finance England (or the relevant body), check whether you need to repay any money already received, and make sure your details are kept up to date.

If you're unsure, contact SFE for guidance – they can help you understand your repayment obligations and prevent further payments being issued in error. Taking action early will ensure a smoother transition, whether you’re leaving your course or changing direction.