{
  "url": "https://openlegislation.uk/education-student-loans-repayment-amendment-regulations-northern-ireland-2024/regulation-23",
  "json_url": "https://openlegislation.uk/education-student-loans-repayment-amendment-regulations-northern-ireland-2024/regulation-23.json",
  "legislation": "nisr/2024/55",
  "legislation_title": "The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2024",
  "legislation_url": "https://openlegislation.uk/education-student-loans-repayment-amendment-regulations-northern-ireland-2024",
  "path": "regulation/23",
  "kind": "regulation",
  "number": "23",
  "heading": "Insertion of regulation 69A (how to calculate fixed instalment rate)",
  "text": "After regulation 69 (repayments by fixed instalments) insert—\n“How to calculate fixed instalment rate\n69A. (1) The fixed instalment rate for a student loan is the result of the formula—\n(a) calculated on the 6th of April of each year, and\n(b) rounded down to the nearest £1 (if necessary).\n2x-y×0.0912\n(2) In the formula—\n“x” means the median salary for graduates (to the nearest £500) in the most-recent year published by the Department for Education;\n“y” means the repayment threshold for the student loan as calculated under Regulation 24(6).”",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 23 in operation at 6.4.2024, see reg. 1(2)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "The median salary for graduates is published online at https://explore-education-statistics.service.gov.uk/find-statistics/graduate-labour-markets. Data published in a given calendar year is used to calculate the fixed instalment rate for the financial year beginning in the following calendar year."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/2024/55/regulation/23",
    "retrieved_at": "2026-10-29T00:29:15.625565+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}