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The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2024
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Amendment to regulation 3 (interpretation)
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3. In regulation 3 (interpretation) —
(a)after the definition of “repayment threshold year” insert—
“retail price index” means the RPI All Items Index published by the Office for National Statistics(1);”;
““standard interest rate” means, in relation to a loan, the greater of—
(a)
zero, or
(b)
the percentage increase in the retail price index between the two Marches immediately before the commencement of the academic year in which the loan bears interest;”;
(b)omit the definitions of the following expressions—
“the 2005 Act”;
“the 2007 Act”.
(1)
The RPI All Items Index is published at https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/chaw/.
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