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For anyone who has a student loan…

22 October 2018

For anyone who has a student loan…

The Department for Education (DfE) has confirmed that from 6 April 2019 student loan thresholds will increase as follows:

The current thresholds for the tax year 2018-19 are:

• Plan 1 – £18,330

• Plan 2 – £25,000.

 

Increases from April 2019:

• Plan 1 – £18,935

• Plan 2 – £25,725.

Postgraduate Loans (PGL) will also increase,

Student loan deductions will remain the same at 9% for Plan 1 and Plan 2 loans.

 

Our Payroll team will be happy to help with any queries regarding student loan payments.  Give them a call on 020 8530 0730 or email paula.w@nordens.co.uk.

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