Paragraph 2 Plan 2 loanF1

(1)

The repayment threshold for a plan 2 loan is—

(a)

£27,295 for the repayment threshold year ending on 5th April 2024 or 5th April 2025, and

(b)

for each repayment threshold year ending on or after 5th April 2026, the amount rounded up to the nearest £5 (if necessary) being the product of—

(i)

the amount of the repayment threshold for the previous repayment threshold year, and

(ii)

the repayment threshold variable.

(2)

This paragraph is subject to regulation 44(6) (which applies a default threshold in certain circumstances).

Annotations

F1: Sch. 1A inserted (6.4.2023) by The Education (Student Loans) (Repayment) (Amendment) (No. 4) Regulations 2022 (S.I. 2022/1335), regs. 2(2), 65