Regulation 22 Amendments to regulation 69 (repayment by fixed instalments)I1

the existing text of regulation 69 is renumbered as paragraph (1);

in regulation 69(1), omit “calculated in accordance with regulation 71”;

After regulation 69(1) insert—

“(2)

The amount of the fixed instalment is the product of—

(a)

the fixed instalment rate for the borrower’s loan, and

(b)

the country-specific multiplier for the borrower’s country of residence.

(3)

The fixed instalment rate for the student loan is calculated in accordance with regulation 69A.”