19.—(1) A new system eligible student qualifies in accordance with this regulation for a loan in respect of the fees payable by the new system eligible student in respect of, or otherwise in connection with the new system eligible student’s attendance on a designated course which began before 1 September 2012.
(2) Unless paragraph (3) applies, the amount of a fee loan in respect of an academic year of a designated course must not exceed the lesser of—
(a)£3,465 or, where one of the circumstances in regulation 16(5) applies, £1,725; and
(b)the fees payable by the student in respect of, or otherwise in connection with, that year.
(3) Where a new system eligible student qualifies for a fee loan under this regulation in respect of a designated course provided by an institution in Northern Ireland, the amount of fee loan in respect of an academic year of the designated course must not exceed the lesser of—
(a)£3,805 or, where one of the circumstances in regulation 16(5) applies, £1,895; and
(b)the fees payable by the student in respect of, or otherwise in connection with, that year.
(4) 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, the new system eligible student may apply to borrow an additional amount which when added to the amount already applied for does not exceed the relevant maximum applicable in the new system eligible student’s case.
(5) This regulation does not apply in relation to a student if the student qualifies for a fee grant and the course is a qualifying designated course.
(6) This regulation does not apply to a new system eligible student who is a 2012 cohort student.
(7) This regulation does not apply to a new system eligible student who is a 2012 accelerated graduate entry student.