The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009

Repayment by income-related instalments

70.—(1) Where the Department is satisfied that a borrower to whom regulation 68 applies has complied with a requirement to provide information under regulation 67, the Department may determine that the borrower may repay a loan by income-related instalments in accordance with this regulation.

(2) The first such instalment must be paid on a date determined by the Department being a date not more than 2 months later than the date of the determination and subsequent instalments must be paid on the same date in each subsequent month for up to 12 months.

(3) Each instalment must be one twelfth of the relevant amount.

(4) The relevant amount is 9% of the gross income which the Department consider the borrower is likely to receive in the next 12 month period following the date of the determination referred to in paragraph (2), disregarding—

(a) income up to the applicable threshold, calculated in accordance with regulation 71; and

(b) income in respect of which the Department is satisfied that repayments are likely to be made under Part 3 or 4.

(5) The amount of the instalment must be stated in the determination.

(6) At the end of the period referred to in paragraph (2), the borrower must pay fixed instalments under regulation 69, subject to a further determination under paragraph (1).

(7) At any time during the period referred to in paragraph (2), the Department may make a re-determination under paragraph (1).