PART 2Amendment of the Education (Student Loans) (Repayment) Regulations 2009
Amendment of Part 5 (repayment by overseas borrowers)
Amendments to regulation 74 (repayment by fixed instalments)57.
(1)
The existing text of regulation 74 is renumbered as paragraph (1).
(2)
In regulation 74(1), omit “calculated in accordance with regulation 76”.
(3)
After regulation 74(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—
(a)
a plan 1 loan is £246;
(b)
a plan 2, 3 or 5 loan is calculated in accordance with regulation 74A.”.