London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Employers’ newsletter - Student loan repayment thresholds

The amount of the repayment is dependent upon which plan the employee is on.

If they are on plan 1, the following rates apply for 2018/19:

  • £18,330 p/y, £1,527.50 p/m, £352.50 p/w

If they are on plan 2, the following rates apply:

  • £25,000 p/y, £2,083.33 p/m, £480.76 p/w

The deduction is 9%, irrespective of which plan you are on.

For 2019/20, the following rates will apply for those on plan 1:

  • £18,935 p/y, £1,577.94 p/m, £364.13 p/w

For those on plan 2, the following rates will apply:

  • £25,725 p/y, £2,143.75, £494.71 p/w

The deduction remains at 9%. For postgraduates, the following rate will apply:

  • £21,000 p/y, £1,750 p/m, £403.84 p/w. 

The rate for deduction on postgraduate loans is 6%.

If you require any advice on student loan repayment, please contact me.

 

 

Date: 27th March, 2019
Author: David Hadley

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Very proud of our team for winning Tax and Estate Planner of the Year for the second year in a row… twitter.com/i/web/status/1…

We are winners of Tax and Estate Planner of the Year for the second year in a row! @FinanceAwards #IPLAwardstwitter.com/i/web/status/1…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn