Regulation 3 Amendment of the Education (Student Loans) (Repayment) Regulations 2009I1

in paragraph (2), after “(4)” insert “, (4A)”;

in paragraph (2A), for “(2B) and (2C)” substitute “(2B), (2C) and (4A)”;

in paragraph (2D), for “(2E) and (2F)” substitute “(2E), (2F) and (4A)”;

in paragraph (4), for “During” substitute “Subject to paragraph (4A), during”;

after paragraph (4), insert—

“(4A)

Where, at any time during the period commencing with 1st September 2026 and ending at the end of 31st August 2027, the annual percentage rate of charge determined under paragraph (2)(a), (b)(ii) or (iii), (c)(ii) or (iii) or (d), (2A)(a)(ii) or (iii), (b)(ii) or (iii) or (c), (2D)(b) or (c), or (4) exceeds 6%, the annual percentage rate of charge is deemed to be 6%.”.

in paragraph (1), for “The”, in the first place it occurs, substitute “Subject to paragraph (1A), the”;

after paragraph (1), insert—

“(1A)

Where, at any time during the period commencing with 1st September 2026 and ending at the end of 31st August 2027, the interest rate determined under paragraph (1) exceeds 6%, the interest rate is deemed to be 6%.”.