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20.—(1) Regulation 29 (time for and amount of repayments) is amended as follows.
(2) In paragraph (1), after “student loan”, insert “or a postgraduate master’s degree loan”.
(3) For paragraph (3), substitute—
“(3) The repayment must be an amount equal to—
(a)in the case of a student loan, 9% of the borrower’s total income for that year,
(b)in the case of a postgraduate master’s degree loan, 6% of the borrower’s total income for that year,
calculated in accordance with paragraph (4).”.
(4) After paragraph (3), insert—
“(3A) The repayment under paragraph (3) is additional to, and concurrent with, any repayment due by—
(a)the student loan borrower in respect of a postgraduate master’s degree loan; or
(b)the postgraduate master’s degree loan borrower in respect of a student loan.”.
(5) In paragraph (7)(1), for “the repayment threshold is”, substitute “the repayment threshold in relation to a student loan is”.
(6) In paragraph (8)(2)—
(i)for “for a borrower with”, substitute “in relation to”;
(ii)after “student loan”, insert “or postgraduate master’s degree loan”.
Paragraph (7) was inserted by S.I. 2011/784 and subsequently amended by S.I. 2012/1309, 2013/607 and 2014/651.
Paragraph (8) was inserted by S.I. 2012/1309.
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