Education Citation and commencement 1 These Regulations may be cited as the Education (Student Loans) (Repayment) (Amendment) Regulations 2019 and come into force on 6th April 2019. Amendment of the Education (Student Loans) (Repayment) Regulations 2009 2 The Education (Student Loans) (Repayment) Regulations 2009 are amended as follows. 3 In regulation 17— a in paragraph (c)— i after “Part 4”, insert “in respect of the tax year ending on 5 April 2019 or any previous tax year”; ii at the end of sub-paragraph (iii), omit “and”; b after paragraph (c), insert— ca where an amount is deducted by an employer under Part 4 in respect of the tax year beginning on 6 April 2019 or any subsequent tax year, a repayment of that amount is considered to have been received by the Authority on— i the day on which it was deducted by the employer; or ii where an adjustment is made in relation to the deduction, such other day as HMRC specifies in order to take account of that adjustment; and . 4 In regulation 18A— a before “Where” insert “(1) Subject to paragraph (2),”; b at the end, insert “(2) For the purposes of repayments under Part 4 in respect of the tax year beginning on 6 April 2019 or any subsequent tax year, the references in paragraph (1) to the repayment thresholds in regulations 29(7) and 29(8) are to be read as references to an apportionment of those thresholds in respect of each month of the tax year in question, calculated by dividing the relevant repayment threshold into twelve equal parts.”. 5 In regulation 21A— a in paragraph (2), after “Subject to paragraphs (2A), (2B), (2C),”, insert “(2D), (2E), (2F),”; b after paragraph (2C), insert— 2D Subject to paragraphs (2E) and (2F), for a borrower to whom Part 4 applies and has applied for the whole or part of the previous tax year, where the borrower repays all of the outstanding balance of the post-2012 student loan by way of deductions from earnings under Part 4 during the tax year beginning on 6 April 2019, any subsequent tax year or any part of those tax years, that loan bears interest at the rate which will result in an annual percentage rate of charge determined in accordance with total charge for credit rules equal to— a where the interest income the borrower received in the previous tax year is the lower interest threshold or less, the standard interest rate; b where the interest income the borrower received in the previous tax year is more than the lower interest threshold but not more than the higher interest threshold, the standard interest rate plus the additional interest rate; c where the interest income the borrower received in the previous tax year is more than the higher interest threshold, the standard interest rate plus 3%. 2E The interest income applied in paragraph (2D) will be from the tax year in which a borrower repays all of the outstanding balance of the post-2012 student loan by way of deductions from earnings under Part 4 where— a the borrower requests that their interest rate is recalculated after the end of the tax year; and b the borrower’s interest income in that tax year is less than the interest income the borrower received in the previous tax year. 2F Where, during the tax year beginning on 6 April 2019 or any subsequent tax year or any part of those tax years, a borrower repays all of the outstanding balance of the post-2012 student loan by way of deductions from earnings under Part 4 in the tax year specified by regulation 15(2), that loan bears interest at the rate which will result in an annual percentage rate of charge determined in accordance with total charge for credit rules equal to the standard interest rate. . Chris Skidmore Minister of State Department for Education 5th February 2019 Kirsty Williams Minister for Education, one of the Welsh Ministers 5th February 2019