The Education (Student Loans) (Repayment) (Amendment) Regulations 2018

Amendment of the Education (Student Loans) (Repayment) Regulations 2009

3.  In regulation 3(1)—

(a) before the definition of “repayment”, insert—

““relevant percentage difference in average earnings” means the percentage difference between the average earnings in periods 1 and 2, as published on the website of the Office for National Statistics(1) on the last day of June that follows period 2, where—

(a)

period 1 is the three month period consisting of January to March in the calendar year prior to period 2; and

(b)

period 2 is the three month period consisting of January to March ending a calendar year and six days before the beginning of the repayment threshold year;”;

(b) in the definition of “repayment threshold”, in (c), for “29(8)” substitute “29(8A)”.

(1)

The Office for National Statistics EARN01 dataset, Average Weekly Earnings (Regular Pay, Great Britain, seasonally adjusted) table can be viewed on the website of the Office for National Statistics – www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/averageweeklyearningsearn01. The figure in question is that for the whole economy (as opposed to those figures given for specific sectors of the economy) indicating percentage change year on year, comparing the three-month period January to March in a given year with the same period a year earlier. It is expressed as a percentage figure to one decimal place.