21.—(1) Subject to paragraph (9), a new system eligible student qualifies in accordance with this regulation for a loan in respect of the fees payable by him or her in respect of, or otherwise in connection with his or her attendance on a designated course.
(2) The amount of a fee loan in respect of an academic year of a designated course must not exceed the lesser of —
(a)£3,145 or, where one of the circumstances in paragraph 16(4) applies, £1,570; and
(b)the fees payable by the student in respect of, or otherwise in connection with, that year.
(3) If the student’s status as an eligible student is transferred from one designated course to another under these Regulations and one of the circumstances in paragraph (4) applies, the student may borrow an additional amount by way of fee loan in respect of the academic year of the course to which he or she transfers.
(4) The circumstances are —
(a)the fees payable in respect of the academic year of the course to which the new system eligible student transfers exceed the fees payable in respect of the academic year of the course from which the student has transferred; and
(b)the academic year of the course to which the new system eligible student transfers does not begin on a later date than the academic year of the course from which he or she has transferred.
(5) Where paragraph (4)(a) applies, the additional amount that the new system eligible student may borrow in respect of the academic year to which he or she transfers must not exceed an amount equal to the fees payable by him or her in respect of that academic year less the amount of any fee loan he or she has taken out in respect of the academic year from which he or she has transferred.
(6) Where paragraph (4)(b) applies, the additional amount that the new system eligible student may borrow in respect of the academic year to which he or she transfers must not exceed the lesser of —
(a)£3,145 or, where one of the circumstances in regulation 16(4) applies, £1,570; and
(b)the fees payable by the student in respect of, or otherwise in connection with, that year.
(7) Where a new system eligible student has applied for a fee loan of less than the maximum amount available in relation to an academic year, he or she may apply to borrow an additional amount which when added to the amount already applied for does not exceed the relevant maximum applicable in his or her case.
(8) This regulation does not apply in relation to a student if he or she qualifies for a new fee grant and the course is a qualifying designated course.