- Latest available (Revised)
- Original (As made)
The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2024
You are here:
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made).
Insertion of regulation 69A (how to calculate fixed instalment rate)
This section has no associated Explanatory Memorandum
23. After regulation 69 (repayments by fixed instalments) insert—
“How to calculate fixed instalment rate
69A.—(1) The fixed instalment rate for a student loan is the result of the formula—
(a)calculated on the 6th of April of each year, and
(b)rounded down to the nearest £1 (if necessary).
(2) In the formula—
“x” means the median salary for graduates (to the nearest £500) in the most-recent year published by the Department for Education(1);
“y” means the repayment threshold for the student loan as calculated under Regulation 24(6).”
(1)
The median salary for graduates is published online at https://explore-education-statistics.service.gov.uk/find-statistics/graduate-labour-markets. Data published in a given calendar year is used to calculate the fixed instalment rate for the financial year beginning in the following calendar year.
Options/Help
Print Options
PrintThe Whole Rule
PrintThe Whole Part
PrintThe Whole Chapter
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.