Regulation 4 Amendment of the Education (Student Loans) (Repayment) Regulations 2009

omit paragraphs (12) and (13);

after paragraph (11) insert—

“(12)

For a borrower to whom Part 3 or 4 applies, the lower interest threshold is—

(a)

for the repayment threshold year ending on 5 April 2019, an amount of £25,000;

(b)

for each subsequent repayment threshold year, an amount equal to A + (A x B) and rounded up to the nearest £5 where—

A is the lower interest threshold in the previous repayment threshold year, and

B is the relevant percentage difference in average earnings.

(12A)

For a borrower to whom Part 5 applies, the lower interest threshold is—

(a)

for the repayment threshold year ending on 5 April 2019, an amount to be determined by reference to the most recent price level index for the borrower’s country of residence and in accordance with the following table—

Band	Price level index	Lower interest threshold
A	0<30	£5,000
B	30<50	£10,000
C	50<70	£15,000
D	70<90	£20,000
E	90<110	£25,000
F	110<130	£30,000
G	130+	£35,000

(b)

for each subsequent repayment threshold year, an amount equal to A + (A x B) and rounded up to the nearest £5 where—

A is the lower interest threshold in the previous repayment threshold year for the band now applicable to the borrower’s country of residence, and

B is the relevant percentage difference in average earnings.

(13)

For a borrower to whom Part 3 or 4 applies, the higher interest threshold is—

(a)

for the repayment threshold year ending on 5 April 2019, an amount of £45,000;

(b)

for each subsequent repayment threshold year, an amount equal to A + (A x B) and rounded up to the nearest £5 where—

A is the higher interest threshold in the previous repayment threshold year, and

B is the relevant percentage difference in average earnings.

(13A)

For a borrower to whom Part 5 applies, the higher interest threshold is—

(a)

for the repayment threshold year ending on 5 April 2019, an amount to be determined by reference to the most recent price level index for the borrower’s country of residence and in accordance with the following table—

Band	Price level index	Higher interest threshold
A	0<30	£9,000
B	30<50	£18,000
C	50<70	£27,000
D	70<90	£36,000
E	90<110	£45,000
F	110<130	£54,000
G	130+	£63,000

(b)

for each subsequent repayment threshold year, an amount equal to A + (A x B) and rounded up to the nearest £5 where—

A is the higher interest threshold in the previous repayment threshold year for the band now applicable to the borrower’s country of residence, and

B is the relevant percentage difference in average earnings.”