The thresholds of Plan 1 and Plan 2 Student Loans are increasing from April 2019.
The current thresholds for the tax year 2018-19 are:
• Plan 1 – £18,330
• Plan 2 – £25,000.
The Department for Education (DfE) has confirmed that from 6 April 2019 the
thresholds will increase to:
• Plan 1 – £18,935
• Plan 2 – £25,725.
Student loan deductions will remain the same at 9% for Plan 1 and Plan 2 loans.
Postgraduate Loans
DfE had launched a new student loan product
known as PGL. The earliest repayment of PGL can start is April 2019.
DfE has confirmed the student loan threshold for PGL for England and Wales will be
£21,000, with deductions being taken at 6%.
In the lead up to 6 April 2019 HMRC will be issuing more detailed guidance on GOV.UK
Debonair Management Services Limited 