Recently, we saved one of our vulnerable client’s who is now permanently unfit for work a staggering £60,000 by taking advantage of the student loan cancellation in the UK.
In an environment where higher education is often the key to unlocking a brighter future, the burden of student loan debt has become an all too familiar challenge for many individuals, where pursuing a higher education is a dream that also comes with a hefty price tag.
Student loans, while necessary for many, can quickly accumulate into overwhelming debt. Balancing the pursuit of knowledge with the burden of loan repayments can be a daunting task, potentially hindering one’s financial stability and personal growth.
However, for potentially vulnerable or disabled students and graduates, this weight may be lifted if eligible for the student loan debt cancellation. Whilst this ‘benefit’ can fly under the radar, the UK has implemented a student loan cancellation system aimed at alleviating the financial strain on those who are the most vulnerable.
Being permanently unfit to work and certain disability-related benefits make individuals eligible, which for your ease are noted below: (source https://www.gov.uk/guidance/student-loan-cancellation-permanently-unfit-to-work )
You might be able to have your student loan cancelled if you get one of the following disability-related benefits in the UK:
· Personal Independence Payments
· Disability Living Allowance
· Industrial Injuries Benefit
· Severe Disablement Allowance
Evidence you’ll need to send
You’ll need to write to the Student Loans Company (SLC) to ask for your loan to be cancelled. You’ll also need to include your Customer Reference Number and photocopies of both of the following letters from:
· A doctor, consultant or psychiatrist which says you’re ‘permanently unfit for work’, dated within the last 6 months
· The benefits agency which shows you get a disability-related benefit, which must be the most recent letter of assessment and include all pages
If you cannot make the request
Sometimes you may not be well enough to tell SLC that you’re permanently unfit to work yourself. SLC can accept information and evidence from a third party instead, but, SLC can only communicate directly with the third party if they have Power of Attorney (POA). If there’s no POA they will write to a third party ‘care of’ the customer’s address.
For any further help or enquiries, feel free to contact us here: enquiries@paladinadvice.com
