I studied in UK (4 years) before for my IGCSE years. then I returned due to financial issues. Now I'll be going back after I complete my A levels which I am doing locally.
I like UK very much. I see myself settling there permanently.
This is going to be long winded so please bear with me.
There will be no punishment as far as you are concerned. All you would have done is to inconvenience and deprive another student who actually has the finances and the grades to get into the uni due to you holding the offer.
Sebagai contoh. You applied to Queen Mary and you got an offer. Another student (lets call him John) also applied to Queen Mary but was rejected. Fast forward into the future, you may have the grades but you don't have the money to pay for the degree. But because you were given an offer, John would have chosen others unis to be his/her firm (example : Uni of Staffordshire) and insurance choices (example : Uni of Loughborough) since he was rejected by Queen Mary.
When results day comes along in August 2015 (A levels), John would have actually had the grades and the money to enter Queen Mary but because of you, he was rejected and so he will go to his firm choice which is Uni of Staffordshire. Queen Mary is not going to call him up and tell him that you (Keroroac) are unable to come to Queen Mary due to financial problems so now they will give John an offer to enter Queen Mary. It doesn't work this way in UK as far as UCAS or the Unis are concerned.
The only way for John to enter Queen Mary is for John to call them up on results day and ask if there are any places left for the course. (This phase which normally takes place in the last 2/3 weeks of August is known as the Clearing Stage). If Queen Mary says there are places for John, then he will email his results and Queen Mary will assess his offer and inform him of their decision whether to accept or reject him.
At the same time, certain newspapers will publish in print and also online on the number of available places for home and international places for most courses. So students from UK, Europe and all over the world will call the unis to enquire if they can get a place at that particular uni.
Great job , for the detailed explanation of scenarios .
Personally , I feel Keroroac should have firmed the UK offer , whilst awaiting results on scholarship applications.