Amendment of regulation 75
37.—(1) Regulation 75 (repayment by income-related instalments) is amended as follows.
(2) For paragraph (4), substitute—
“(4) The relevant amount is—
(a)in relation to a student loan, 9%, and
(b)in relation to a postgraduate master’s degree loan, 6%,
of the gross income which the Authority considers the borrower is likely to receive in the next 12 month period following the date of the determination referred to in paragraph (2).”.
(3) After paragraph (4), insert—
“(4A) In calculating the relevant amount, the Authority must disregard—
(a)income up to the applicable threshold, calculated in accordance with regulation 76; and
(b)income in respect of which it is satisfied that repayments are likely to be made under Part 3 or 4.
(4B) The relevant amount in paragraph (4) 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.”.