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)I157
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.