2. Eligibility

The policy applies to students who received a maintenance loan from Student Finance Wales 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 first loan which they took out. 

As long as a student took out a maintenance loan during or after the 2010/11 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. 

The cancellation will be applied shortly after the repayment is made and will normally be shown on their next 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.