Full-time students who have taken a Maintenance Loan from Student Finance Wales could get up to £1,500 cancelled.
To qualify for this scheme offered by the Welsh Government you must:
- have been a full-time student
- have taken a Maintenance Loan from Student Finance Wales since academic year 2010/11
- have started repaying
How much of the Maintenance Loan will be cancelled
When you make your first repayment, the Student Loans Company will automatically cancel up to £1,500.
If you took less than £1,500
The whole amount will be cancelled.
If you took more than £1,500
Only £1,500 will be cancelled.
If your income at the moment is too low to be making repayments, you’ll still be able to get part of your Maintenance Loan cancelled if you start making repayments in the future.
You can only get the cancellation once. You cannot get the cancellation if you have any outstanding charges, costs, expenses or penalties in relation to your loan or if you’re in breach of your loan agreement.