PART 2 N.I. Amendments to the Repayment Regulations

Amendment of Part 5 (Repayment by Overseas Borrowers) N.I.

Amendments to regulation 69 (repayment by fixed instalments) N.I.

22.  In regulation 69 (repayment by fixed instalments) —

(a) the existing text of regulation 69 is renumbered as paragraph (1);

(b) in regulation 69(1), omit “calculated in accordance with regulation 71”;

(c) After regulation 69(1) insert—

“(2) The amount of the fixed instalment is the product of—

(a) the fixed instalment rate for the borrower’s loan, and

(b) the country-specific multiplier for the borrower’s country of residence.

(3) The fixed instalment rate for the student loan is calculated in accordance with regulation 69A.”

Commencement Information

I1 Reg. 22 in operation at 6.4.2024, see reg. 1(2)