partial cancellation of student loan debt in Wales?
This forum is for Welsh students (as well as EU students planning to study in Wales) to discuss funding arrangements via Student Finance Wales.
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partial cancellation of student loan debt in Wales?When I first heard this I thought it was some blatant scam, but looking into it its on the Direct Gov website! Basically from the sound of it, you make a small payment and get a £500-1500 discount of your maintenance loan.
Obviously its the Welsh Assembly so they can do what they like, but still, how can they get away with wiping £1500 off people debts, surely they don't have that much leeway after already heavily subsidizing students? It would be equivalent of them handing out free money and saying it was their right as a devolved government!
ANyway, can anyone explain how this works exactly. What are the cons on making this repayment? Where does this discount come from? -
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Re:partial cancellation of student loan debt in Wales?This is what I was curious about. Perhaps it bounds you to some new terms and conditions? Absolutely no idea.
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Re: partial cancellation of student loan debt in Wales?Does anyone know how much you have to initially repay in order to get the full £1500 off?
I know on the website it says that if you took out a loan of £3000, and initially pay off £50, you'll get the full £1500 deducted.
However, my loan was £4400, so I'm not sure if I have to initially pay off more than the £50?
Any help would be great, thanks
