Increase in Student Loans
Plan 1 and Plan 2 thresholds from 6 April 2019 and Postgraduate Loans (PGL)
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.