Can you explain the payment schedule for the first 12 months?

Below is a table that shows an example repayment schedule, assuming that the ISA contract is signed in January.

• In January, the contract was signed 🖋️, triggering the first Admin charge of €10. This is deducted from the Payment Cap, but does not count as a Full payment
• In February and March, the learner is studying 📚, meaning only the Admin charge is payable
• In April, the learner completes the course 🎓, meaning the first full payment will be collected 60 days later
• In June, the first full payment is automatically charged, on the assumption that the learner is has started working 👩🏼‍💻 and thier income is at the minimum income threshold (in this case, €16,000).
  • This means (€16,000 ÷ 12 months) x 12% = €160 due
  • This counts as the first full repayment
  • And the Admin Charge is paused
• In September, the learner is asked to validate their income ✅, and they report /confirm that their income is €19,000. This means payments of (€19,000 ÷ 12 months) x 12% = €189.96 due
• In December, the learner is asked to validate their income again ✅, and they report no change to the €19,000.