Stage 5: Finishing your studies
Full-time undergraduate, tuition fee and living cost students

Repaying your student finance

Our repayment guide on GOV.UK is the best place to find out about repaying your student finance. It covers important topics like:

  • when you start and finish repaying
  • how much you repay
  • how to repay
  • making voluntary repayments
  • getting a refund
  • updating your employment details

Keep your account up to date even after you finish your studies

We need to be able to contact you to tell you if:

  • there’s something wrong with your account or repayments
  • you’re close to repaying your loan. You could end up paying more than you need to

It's part of your student finance agreement to keep us up to date with current contact information until your loan is fully repaid or cancelled.

Student finance partial cancellation scheme

When you start repaying your student loan, the Welsh Government could cancel up to £1,500 from any full-time Maintenance Loan balance. If you take out a loan in more than one academic year, the cancellation will be applied to the first Maintenance Loan which you took out. The cancellation amount will be subject to the amount of your first repayment. Find out more at www.gov.wales/student-finance-partial-cancellation-scheme.

Example

You took a Maintenance Loan of £1,000 in each year of a course that lasted 4 years, so your total Maintenance Loan balance is £4,000 plus any interest that’s accrued. You make a repayment of £200 which is evenly split across your balance for each year you took a Maintenance Loan (£50 repayment for each). We’ll be able to cancel £950 from your balance as that’s the amount of your first Maintenance Loan balance, minus the £50 repayment. Your remaining balance would be £2,850 plus any interest accrued.

Example

You took just one Maintenance Loan of £2,500 out in the second year of a course that lasted 4 years. Your total Maintenance Loan balance is £2,500 plus any interest that’s accrued. You make a repayment of £200. We’ll be able to cancel £1,500 from your balance. Your remaining balance would be £800 plus any interest accrued.

Our guide to repaying your student loans

Repayment information from the Student Loans Company on GOV.UK