- Latest available (Revised)
- Point in Time (01/03/1998)
- Original (As enacted)
Version Superseded: 13/08/1998
Point in time view as at 01/03/1998.
There are currently no known outstanding effects for the Education (Student Loans) Act 1990 (repealed 13.8.1998), Cross Heading: Principal, interest and payments.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
1(1)Regulations made by the Secretary of State shall—
(a)prescribe the maximum amount of the [F1public sector student] loan that may be made to a student in any year;
[F2(b)require the terms of every agreement for a public sector student loan to include—
(i)such terms relating to the time and manner of repayments,
(ii)such terms relating to the interest to be borne by the loan, and
(iii)such terms under which the borrower’s liability may be deferred or cancelled,
as are prescribed by the regulations.]
(2)The maximum amount prescribed under sub-paragraph (1)(a) above for the loan to be made to a student in any year shall not exceed—
(a)the amount specified as the ordinary maintenance requirement for students of the class or description to which he belongs by regulations having effect for that year under section 1(1) of the M1Education Act 1962 (mandatory awards); or
(b)if no such amount is specified for students of the class or description to which he belongs, such amount as the Secretary of State considers appropriate for students of that class or description having regard to the amount specified as mentioned in paragraph (a) above;
but regulations, other than the first, made under sub-paragraph (1)(a) above may prescribe a higher maximum if a draft of the regulations has been laid before and approved by a resolution of each House of Parliament.
(3)Regulations [F3made in pursuance of sub-paragraph (1)(b)(i) above] shall make such separate provision as the Secretary of State considers appropriate with respect to the repayment of loans by borrowers who are disabled.
[F4(4)Regulations made in pursuance of sub-paragraph (1)(b)(ii) above shall make such provision with respect to the rate of interest for the time being applicable to a public sector student loan as the Secretary of State considers appropriate to maintain the value in real terms of the outstanding amount of the loan.
(5)The provision required by sub-paragraph (4) above shall be framed by reference to such index of prices as may be specified in, or determined in accordance with, the regulations.]
[F5(6)Nothing in any regulations under sub-paragraph (1)(b) above shall affect the terms of any agreement for a public sector student loan entered into before the date of the coming into force of the regulations.]
Textual Amendments
F1Words in Sch. 2 para. 1(1) inserted (29.4.1996) by 1996 c. 9, s. 1(2), Sch. para. 3(2)(a)
F2Sch. 2 para. 1(1)(b) substituted (1.3.1998) for Sch. 2 para. 1(1)(b)(c) by 1998 c. 1, s. 2(2); S.I. 1998/210, art. 2
F3Words in Sch. 2 para. 1(3) substituted (1.3.1998) by 1998 c. 1, s. 2(3); S.I. 1998/210, art.2
F4Sch. 2 para. 1(4)(5) substituted (1.3.1998) by 1998 c. 1, s. 2(4); S.I. 1998/210, art. 2
F5Sch. 2 para. 1(6) inserted (1.3.1998) by 1998 c. 1, s. 2(5); S.I. 1998/210, art. 2
Modifications etc. (not altering text)
C1Sch. 2 para. 1(6) modified (1.3.1998) by 1998 c. 1, s. 2(7); S.I. 1998/210, art. 2
Marginal Citations
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: