Amendments to the Education (Student Loans) (Repayment) Regulations 20092

1

The Education (Student Loans) (Repayment) Regulations 20094 are amended as follows.

2

In the table in regulation 20B(3), after the row for the period “1st March 2023 to 31st May 2023”, insert—

1st June 2023 to 31st August 2023

7.1%

3

In regulation 33(3)(b) and (d)(ii), omit “or postgraduate degree loan”.

4

In regulation 74A—

a

in paragraph (1), after “formula” insert “in paragraph (2) or (2A) (as the case may be)”;

b

in paragraph (2), after “formula” insert “applicable to a plan 2 or 5 loan”;

c

after paragraph (2), insert—

2A

The formula applicable to a plan 3 loan is—

2x-y×0.0612math

d

in paragraph (3), for “formula” substitute “formulae in paragraphs (2) and (2A)”;

e

after paragraph (3), after “Example” insert “(using the formula applicable to plan 2 or 5 loans)”.