§ Baroness Serota
asked Her Majesty's Government:
When the Education (Student Loans) Act 1998 will come into force and when regulations will be made under it. [HL537]
§ The Minister of State, Department for Education and Employment (Baroness Blackstone)
Sections 1, 4, 5, 6(1) and 7 came into force on Royal Assent on 27 January 1998. Sections 2, 3, and 6(2) and the schedule to the Act will come into force on 1 March 1998. The Education (Student Loans) Regulations 1998 were laid before the House on Friday 6 February.
The regulations protect borrowers and debt purchasers by fixing the key terms of all loans taken out under the Education (Student Loans) Act 1990 both before and after 1 March 1998. The regulations also provide for new repayment terms for disabled borrowers. These terms were formerly exercised at the discretion of the loans administrator.