Explanatory note

The Education (Student Loans) (Repayment) Regulations 2009 (“the 2009 Regulations”) make provision for the repayment of student loans in England and Wales. Part 2 of the Education (Postgraduate Master’s Degree Loans) Regulations 2016 (“the 2016 Regulations”) makes provision for the repayment of postgraduate master’s degree loans in England.

These Regulations amend the 2009 Regulations and revoke Part 2 of the 2016 Regulations so that all repayment provisions, in respect of both student loans and postgraduate master’s degree loans in England and Wales, are consolidated in the 2009 Regulations.

These Regulations also make the following amendments to the 2009 Regulations.

Regulation 13 inserts new regulation 20A into the 2009 Regulations to provide that an excess payment of £10 or less will not require the Authority to contact the borrower and the excess payment is to be treated as a direct payment.

The applicable repayment threshold for a borrower who resides overseas varies according to where in the world the borrower is and the level of the price level index for that country, as determined by the World Bank’s Development Indicators. Regulation 38 amends regulation 76 of the 2009 Regulations so that the Authority has a measure of discretion in determining the applicable threshold for borrowers who reside overseas but only in cases where the Authority is unable to calculate the price level index for the borrower’s country of residence.

An impact assessment has not been prepared in respect of this instrument as it has minimal impact on business, charities or voluntary bodies. The impact on the public sector is minimal.