In this guide
2. Eligibility
The scheme is for students who received a maintenance loan from Student Finance Wales, from the 2010 to 2011 academic year onwards, to support full-time undergraduate study.
The scheme does not apply to loans for part-time undergraduate study or postgraduate study.
Students will not qualify 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 a student took out a maintenance loan in more than one academic year, the cancellation will only apply to their first maintenance loan.
The cancellation will be applied after the student makes their first repayment. This can be a statutory or voluntary repayment:
- A student will make a statutory repayment if their income, after the statutory repayment due date has passed, is above the relevant repayment threshold.
- A student can make a voluntary repayment at any time.
If a student’s income stays below the repayment threshold for several years, they will still remain eligible and the cancellation will be applied if and when they make a first statutory repayment in the future.
The cancellation will be applied shortly after the first repayment is made and will normally appear on the next student loan statement.
Students can only receive the cancellation once, even if the amount cancelled is £0 (for example, if they repay their loan in full in one payment). Students should consider this when making any voluntary repayments.