For paragraph (1), substitute—

“(1)

The repayment deducted must be—

(a)

in relation to a student loan, 9%, and

(b)

in relation to a postgraduate master’s degree loan, 6%,

of any earnings paid to, or provided to or for the benefit of, the borrower in respect of the employment, which exceed the threshold specified in paragraph (2).”.

After paragraph (2), insert—

“(2A)

The repayment calculated under paragraph (1) is additional to, and concurrent with, any repayment due—

(a)

by the student loan borrower in respect of a postgraduate master’s degree loan; or

(b)

by the postgraduate master’s degree loan borrower in respect of a student loan.”.