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Paragraph 12

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a)

dies,

(b)

is not behind on any repayments under any agreement for a student loan and—

(i)

was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or

(ii)

was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or

(c)

if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work.