Student Loan Plan 1 & 2 thresholds confirmed for April 2023

The Department for Education has confirmed the Student Loan thresholds for Plan Type 1 and 2 to be operated from 6th April 2022.

From 6 April 2023, the repayment threshold for pre-2012 (Plan 1) loans will rise to £22,015.

The income threshold for post-2012 (Plan 2) from April 2023 will remain frozen at £27,295 as expected.

The income thresholds for Postgraduate Masters and Doctoral Loans to apply from April 2023 will be announced in due course. Originally it was indicated that this threshold would remain at £21,000, but with the increase to the plan 1 threshold, this is subject to further review and announcement.

The details on the Scottish plan type 4 for April 2023 is waiting to be confirmed by the Scottish government.

The full news story can be found at:

PAYadvice.UK 12/8/2022 updated 14/8/2022

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