# The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009, Regulation 69A: How to calculate fixed instalment rate


(1) The fixed instalment rate for a student loan is the result of the formula—
(a) calculated on the 6th of April of each year, and
(b) rounded down to the nearest £1 (if necessary).
2x-y×0.0912
(2) In the formula—
“x” means the median salary for graduates (to the nearest £500) in the most-recent year published by the Department for Education;
“y” means the repayment threshold for the student loan as calculated under Regulation 24(6).

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Source: https://www.legislation.gov.uk/nisr/2009/128/regulation/69A (the official version)
Page: https://openlegislation.uk/education-student-loans-repayment-regulations-northern-ireland-2009/regulation-69A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.