Higher Education and Research Bill — Report (3rd Day) — 13 Mar 2017 at 15:59
Moved by Lord Watson of Invergowrie
145: After Clause 84, insert the following new Clause-“Financial support: loans(1) In section 22 of the Teaching and Higher Education Act 1998, after subsection (5) insert-“(5A) No provision may be made relating to the repayment of a loan that has been made available under this section which would change the repayment conditions of that loan once the first payment has been made to the borrower or directly to the institution to whom the borrower is liable to make payments.(5B) No provision may be made relating to the repayment of a loan that has been made available under this section, and under which any payments have been made prior to the commencement of section (financial support: loans) of the Higher Education and Research Act 2017, which would make any further changes to the repayment conditions of that loan after the commencement of that section.”(2) In section 8 of the Sale of Student Loans Act 2008 (consumer credit), for subsection (1) substitute-“(1) Loans made in accordance with regulations under section 22 of the Teaching and Higher Education Act 1998 are to be regulated by the Consumer Credit Act 1974.””
Ayes 235, Noes 248.
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