Confirmation of Sept Interest Rates, Deferment Threshold & Repayment Thresholds 17/18

Ed-1 · 16 August 2016 at 9:19PM

Department for Education (DfE) having taken over the policy area from the closed Department for Business, Innovation and Skills (BIS) have now confirmed the following:

the interest rate for plan 1 loans will be 1.25% from 1st September 2016 and a maximum of 1.6% during the 2016/17 academic year;
the repayment threshold for plan 1 loans will be £17,775 from 6th April 2017;
the interest rate for plan 2 loans will range from 1.6% - 4.6% from 1st September 2016 depending on earnings and the maximum until 6th April after finishing studying;
the interest rate for postgraduate loans will be 4.6% from 1st September 2016;
the repayment threshold for plan 2 loans and postgraduate loans will be £21,000 until at least April 2021 (though postgraduate loans don't enter repayment until at least April 2019);
the interest rate for mortgage style loans will be 1.6% from 1st September 2016;
the deferment threshold for mortgage style loans will be £29,126 from 1st September 2016.

http://www.slc.co.uk/media/latest-news/change-of-interest-thresholds.aspx

Confirmation of Sept Interest Rates, Deferment Threshold & Repayment Thresholds 17/18

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