Regulation 27 Amendments to regulation 21B (interest rate on postgraduate degree loans)I1 I2

England and Wales

(1)

In the heading to regulation 21B, for “postgraduate degree loans” substitute “plan 3 loans”.

(2)

In regulation 21B(1)—

(a)

for “postgraduate degree loan” substitute “plan 3 loan”;

(b)

for “RPI” substitute “the standard interest rate”.

(3)

For regulation 21B(2) substitute—

“(2)
Interest accrues beginning with the day on which any part of the loan is paid.”.

(4)

After regulation 21B(4) insert—

“(4ZA)
This regulation is subject to regulation 20B (interest rate not to exceed prevailing market rate).”.

(5)

Omit regulation 21B(4A) and (4B).

(6)

Omit regulation 21B(5).

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