PART 2Amendment of the Education (Student Loans) (Repayment) Regulations 2009
Amendment of Part 2 (provisions applicable to all repayments)
Amendments to regulation 18A (division of repayment)I118
1
In the heading to regulation 18A, after “repayment” insert “: more than one loan”
.
2
For regulation 18A(1) and (1A) substitute—
1
This regulation applies if—
a
a borrower has a combination of plan 1, 2, 4 or 5 loans24,
b
the borrower is required to repay two or more of the loans,
c
the loans have different repayment thresholds, and
d
the Authority receives a repayment other than a direct payment.
1A
The Authority must reduce the outstanding balance of the loans by—
a
in the case of the loan with the highest repayment threshold, the total amount due in respect of that loan, and
b
in the case of every other loan, the amount due in respect of each loan less the amount due in respect of the loan (or loans) with a higher repayment threshold.
3
Omit regulation 18(1B) and (1C).
4
In regulation 18A(2)—
a
for “to (1C)” substitute “and (1A)”
;
b
omit “in regulation 29(7), 29(8) and 29(8B)”.