Regulation 13 Repayment and reduction
Subject to this regulation, the relevant amount shall be reduced or repaid during the relevant term so that it is extinguished or wholly repaid by the completion of the relevant term.
Where an eligible teacher is in part-time employment the relevant amount shall only be reduced or repaid in accordance with the proportion of the working week the teacher is employed to work.
No reduction or repayment shall be made in respect of any period during the relevant term when a person ceases to be eligible under these Regulations.
The total amount reduced or repaid shall not exceed the lesser of the following—
the total amount payable in respect of any student loans outstanding at the commencement date and any interest accrued on those loans during any period of eligible employment during the relevant term; or
where any student loans have been repaid, cancelled or reduced pursuant to these Regulations, the total amount payable in respect of any loans outstanding following such repayment, cancellation or reduction.
Repayments and reductions shall be made in such manner as the Secretary of State considers appropriate, and he may make it a condition of entitlement to repayment that the eligible teacher shall provide him with particulars of a bank or building society account in the United Kingdom into which repayments may be made by electronic transfer.