Regulation 74 Repayment by fixed instalmentsI1

United Kingdom

F1(1)

A borrower must pay to the Authority a fixed instalment F2...—

(a)

no later than the day specified in a notice served under regulation 73; and

(b)

no later than the same day of each subsequent month.

F3(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.

(F43)

The fixed instalment rate for a plan 1, 2, 3 or 5 loan is calculated in accordance with regulation 74A.

Annotations

F1: Reg. 74 renumbered as reg. 74(1) (6.4.2023) by The Education (Student Loans) (Repayment) (Amendment) (No. 4) Regulations 2022 (S.I. 2022/1335), regs. 2(2), 57(1)
F2: Words in reg. 74(1) omitted (6.4.2023) by virtue of The Education (Student Loans) (Repayment) (Amendment) (No. 4) Regulations 2022 (S.I. 2022/1335), regs. 2(2), 57(2)
F3: Reg. 74(2)(3) inserted (6.4.2023) by The Education (Student Loans) (Repayment) (Amendment) (No. 4) Regulations 2022 (S.I. 2022/1335), regs. 2(2), 57(3)
F4: Reg. 74(3) substituted (6.4.2024) by The Education (Student Loans) (Repayment) (Amendment) (No. 3) Regulations 2023 (S.I. 2023/1184), regs. 1(3), 4(2)

F1: Words in Pt. 5 heading inserted (6.4.2023) by The Education (Student Loans) (Repayment) (Amendment) (No. 4) Regulations 2022 (S.I. 2022/1335), regs. 2(2), 54