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2. Eligibility

The scheme applies to students who have received a maintenance loan from Student Finance Wales since the 2010 to 2011 academic year to support them to study a full-time undergraduate course. Those who receive loans for part-time undergraduate study or postgraduate study are not eligible. 

Students will not qualify for the cancellation if they have any outstanding charges, costs, expenses or penalties in relation to their loan or if they are in breach of their loan agreement.

If students take out a loan in more than one academic year, the cancellation will be applied to the earliest maintenance loan which they took out since the academic year 2010 to 2011.

As long as a student took out a maintenance loan during or after the 2010 to 2011 academic year and is eligible for a cancellation, their deduction will be applied when they make their first repayment. If their income remains below the repayment threshold for several years, they will still be eligible for a cancellation if or when they enter repayment in the future. If a student makes voluntary payments these will also be counted towards repaying their loans.

The cancellation will be applied shortly after the first repayment is made and will normally be shown on the next student loans statement.

Students are only entitled to receive the cancellation once even where the amount of cancellation was £0 due to them paying their outstanding debt in full. Students should consider this when making voluntary repayments.