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Insertion of new regulation 31ZA

9.  After regulation 31 (amount of contribution to costs loan) insert—

Amount of contribution to costs loan — courses beginning on or after 1 August 2024

31ZA.(1) This regulation applies in relation to a designated course beginning on or after 1 August 2024.

(2) Subject to paragraph (3), the amount of contribution to costs loan available to an eligible student in respect of a designated course is £18,950.

(3) Where an eligible prisoner applies for a contribution to costs loan, the amount of loan must not exceed the lesser of—

(a)the fees payable in respect of the designated course, and

(b)£18,950.

(4) Except where regulation 36A(6) and (7) applies, an eligible student may apply to the Welsh Ministers to amend the amount of contribution to costs loan for which the student has applied, provided that—

(a)in aggregate, the amounts of contribution to costs loan applied for do not exceed the applicable amounts set out in paragraphs (2) and (3);

(b)such application is made in accordance with regulation 18(2).