25.—(1) A new system eligible student who is a 2012 cohort student qualifies in accordance with this regulation for a new fee loan in respect of, or otherwise in connection with, the 2012 cohort student’s attendance on a designated course provided by a publicly funded institution.
(2) A new fee loan is not available in respect of an academic year if that year is a bursary year or an Erasmus year.
(3) The amount of new fee loan in respect of an academic year of a designated course provided by a publicly funded institution must not exceed the lesser of—
(a)£3,575 or, where one of the circumstances in regulation 17(4) applies, £1,780; and
(b)the fees payable by the student in respect of, or otherwise in connection with, that year.
(4) Where a 2012 cohort student has applied for a new fee loan of less than the maximum amount available in relation to an academic year, the 2012 cohort student may apply to borrow an additional amount which, when added to the amount already applied for, does not exceed that maximum.
(5) This regulation does not apply to a 2012 cohort student who qualifies for a new private institution fee loan.