2 Graduate endowment: use of income S

(1) The Scottish Ministers shall, in making budget proposals to the Scottish Parliament, include provision that the income arising from the graduate endowment for the financial year to which the proposals relate be used for the purposes of student support.

(2) In subsection (1) above—

• “budget proposals” means proposals made, in relation to each Bill for a Budget Act, for the use of resources; and

• “student support” means the provision of—

  (a)

  allowances for living costs; and

  (b)

  loans,

  under section 73(f)(i) of the Education (Scotland) Act 1980 (c.44).