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The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011

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Amendment of the Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009

This section has no associated Explanatory Memorandum

5.  In regulation 24 (Time for and amount of repayments)—

(a)in paragraph (3)(a) for “first £15,000” substitute “repayment threshold” and

(b)after paragraph (5) insert—

(6) The repayment threshold is—

(a)for any repayment threshold year ending on or before 5th April 2012, an amount of £15,000;

(b)for any repayment threshold year ending on or after 6th April 2012 but before or on 5th April 2016, an amount equal to X + (X x Y%) and rounded up to the nearest £5 where—

  • X is the repayment threshold for the previous repayment threshold year,

  • Y is the percentage increase between the retail prices all items index published by the Office for National Statistics for the two Marches immediately before the commencement of the previous tax year; and

(c)for any repayment threshold year ending on or after 6th April 2016, the amount of the repayment threshold for the previous repayment threshold year;

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