20.—(1) A new system eligible student who qualifies for a fee grant may apply under this regulation for a fee loan in respect of the new system eligible student’s attendance on the qualifying designated course.
(2) The maximum amount of fee loan available under this regulation is the lesser of—
(a)£1,380 or, where any of the circumstances in regulation 16(5) apply, £680; and
(b)the remainder of the fees payable by the new system eligible student less an amount equal to the fee grant in respect of or otherwise in connection with that year.
(3) Where the 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 that maximum.