The LSE is sympathetic to students who have genuine problems. If a student is getting into difficulties they should see a member of the Fees Office as soon as possible.
If the fees are not paid on time, and a student has not seen someone from the Fees Office for help, then sanctions are imposed. These may be any combination of the following and in any order
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Withdraw library rights
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De-registration - you cease to be a student which may also affect your visa
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Block exam results
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Fine
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Refer to Credit Agency - which will affect your credit rating