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.
