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18.—(1) Subject to paragraph (2), the amount of the grant for fees in respect of an academic year of a designated course at a private institution is the lesser of—
(a)£1,255; and
(b)the fees payable by the student in connection with that year.
(2) In the case of a designated course at the University of Buckingham, the amount of the grant for fees in respect of an academic year is £3,190.
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