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

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

6.  In regulation 29—

(a) in paragraph (4)(a) for “first £15,000” substitute “repayment threshold”;

(b) in paragraph (4)(b) for “£15,000” substitute “the repayment threshold”; and

(c) after paragraph (6) insert—

“(7) The repayment threshold is—

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

(b) for any repayment threshold year ending after 6 April 2012 but before or on 5 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 6 April 2016, the amount of the repayment threshold for the previous repayment threshold year;”.