Welsh Students can write off 1.5k of student loan @ SLC £1,500.00
This is only for Welsh Students who took their loan in 2010/11 or 2011/12.
SLC in wales are offering 1.5k loan cancellation as soon as you start repayment. It appears that you just have to pay at least £5, then they wipe 1.5k off your debt. The minimum amount varies depending on how much loan you have but the examples suggest that it shouldn't be much more than £50
Example 1
If you took out £3,000 Maintenance Loan in 2010/11 or 2011/12 and your first repayment to us is £50, we would cancel £1,500 of your outstanding student loan debt.
Example 2
If you took out £1,200 Maintenance Loan in 2010/11 or 2011/12 and your first repayment to us is £5, we would cancel £1,195 of your outstanding student loan debt.
Example 3
If you took out £200 Maintenance Loan in 2010/11 or 2011/12 and your first repayment to us is £200, you would not receive any debt cancellation.
Example 4
If you take out £1,500 maintenance loan in 2011/12 and you made a voluntary repayment of £5 to us after you received your first instalment (of £500), then £495 of your outstanding student loan debt will be cancelled.
The partial cancellation will not be applied to your remaining instalments due and there will be an additional £1,000 balance on your account at the end of the year (plus interest).
Example 5
If you take out £1,500 maintenance loan in 2011/12 and you made a voluntary repayment of £50 to us after you received your second instalment (of £500), then £950 of your outstanding student loan debt will be cancelled.
The partial cancellation will not be applied to your remaining instalment due and there will be an additional £500 balance on your account at the end of the year (plus interest).
See the link for more details but this is an opportunity for welsh students to cut off a large chunk of student debt for a very small amount of money.
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678622&_dad=portal&_schema=PORTAL
All Comments (9)
Jump to unread Post a CommentIt's not a deal though and is also a very selective group.
It's not a deal though and is also a very selective group.
Everyone thinks if it doesn't apply to them then it is a "selective group". It is a bit selective but there are thousands of welsh students.
It's not a deal though and is also a very selective group.
Everyone thinks if it doesn't apply to them then it is a "selective group". It is a bit selective but there are thousands of welsh students.
Not really, this is a selective group = Students.
Adding another restriction = Welsh
This makes it a smaller group.
Plus it's not a deal, just advice.
I know someone who will benefit if it's the latter.
Pay your debts. Or don't borrow what you can't or won't pay back
I know someone who will benefit if it's the latter.
LOL.
I know someone who will benefit if it's the latter.
People who's loan was issued by the welsh SLC, my girlfriend is Swedish but her loan was issued by the welsh SLC and she is eligible.
Edited By: jamesdew on Apr 27, 2012 15:41: update