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Higher Education Update
28 January 2022
Type
Written Ministerial Statement
Department
Department for Education
At a Glance
Issue Summary
The statement addresses the maintenance of student loan repayment thresholds and interest rates for financial year 2022-23.
Action Requested
I am confirming that regulations will be brought forward to keep the Plan 2 student loan repayment threshold at £27,295 per year for the 2022-23 financial year. Additionally, the postgraduate (Plan 3) student loan repayment threshold will remain at £21,000.
Key Facts
- The Plan 2 student loan repayment threshold remains at £27,295.
- Post-study interest rate thresholds for Plan 2 loans align with the repayment threshold of £27,295 and upper threshold of £49,130.
- The postgraduate (Plan 3) student loan repayment threshold is kept at £21,000.
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