OpenLegislation

Paragraph 12 I1

Northern Ireland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a)

dies;

(b)

is not behind on any repayments under any agreement for a student loan and—

(i)

was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner; or

(ii)

was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60; or

(c)

can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work.

Annotations

Commencement

I1

Sch. 2 para. 12 in operation at 1.3.1998, see reg. 1