SL(6)244 – The Education (Student Loans) (Repayment) (Amendment) (No.2) Regulations 2022
Background and Purpose
These Regulations amend the Education (Student Loans) (Repayment) Regulations 2009 (“the Principal Regulations”), which make provision for the repayment of income-contingent student loans in England and Wales.
Regulation 3(2) makes provision for a temporary reduction of the interest rate on undergraduate loans specified in regulation 21A of the Principal Regulations and Regulation 3(3) makes similar provision in respect of postgraduate degree loans specified in Regulation 21B of the Principal Regulations.
The interest rate is set at 6.3% for the period beginning with 1st September 2022 and ending with 30th November 2022. After that date, the interest rate will revert to the original rate specified in the Principal Regulations.
Procedure
Composite Negative
The Regulations were made by both the Welsh Ministers and the Secretary of State, before being laid before both the Senedd and the United Kingdom Parliament.
The Senedd can annul the Regulations within 40 days (excluding any days when the Senedd is: (i) dissolved, or (ii) in recess for more than four days) of the date they were laid before the Senedd. The United Kingdom Parliament can also annul the Regulations, in accordance with the rules for annulment that apply to the United Kingdom Parliament.
Technical Scrutiny
The following point is identified for reporting under Standing Order 21.2 in respect of this instrument.
1. Standing Order 21.2(ix) – that it is not made or to be made in both English and Welsh
These Regulations have been made as a composite instrument, meaning the Regulations have been: (a) made by both the Welsh Ministers and the Secretary of State, and (b) laid before both the Senedd and the United Kingdom Parliament. As a result, the Regulations have been made in English only.
The Explanatory Memorandum explains that:
“The 2022 Regulations are composite regulations. As this instrument will be subject to UK Parliamentary scrutiny, it is not considered reasonably practicable for it to be made or laid bilingually. Therefore, the 2022 Regulations are made in English only.”
Merits Scrutiny
No points are identified for reporting under Standing Order 21.3 in respect of this instrument.
Welsh Government response
A Welsh Government response is not required.
Legal Advisers
Legislation, Justice and Constitution Committee
25 August 2022