# The Education (Student Loans) (Repayment) Regulations 2009, Regulation 21C: Interest rate on plan 5 loans


(1) A plan 5 loan bears interest at the standard interest rate.
(2) Interest accrues beginning with the day on which any part of the loan is paid.
(3) Interest is—
(a) calculated on the outstanding principal of the loan daily, and
(b) added to the outstanding principal of the loan monthly.
(4) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).

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Source: https://www.legislation.gov.uk/uksi/2009/470/regulation/21C (the official version)
Page: https://openlegislation.uk/education-student-loans-repayment-regulations-2009/regulation-21C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.