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Repayment Threshold 2017/18
Ed-1
Posts: 3,994 Forumite
With RPI for March in at 1.6%, the repayment threshold (for plan 1 loans) will rise to £17775 from April 2017 (17495x1.016 rounded up). Monthly threshold will be £1481 and weekly threshold will be £341.
The repayment threshold (for plan 2 loans) will remain at £21000.
From 1st September 2016:
Interest rates for plan 1 loans will be 1.25% (as a result of the change in base rate from 0.5% to 0.25% in August. If base rate rises before 1st September 2017 the rate will be capped at 1.6%).
Interest rates for plan 2 loans will range from 1.6% to 4.6% depending on whether you are studying or not and what you earn if you are in repayment.
Interest rates for postgraduate loans will be 4.6%.
The repayment threshold (for plan 2 loans) will remain at £21000.
From 1st September 2016:
Interest rates for plan 1 loans will be 1.25% (as a result of the change in base rate from 0.5% to 0.25% in August. If base rate rises before 1st September 2017 the rate will be capped at 1.6%).
Interest rates for plan 2 loans will range from 1.6% to 4.6% depending on whether you are studying or not and what you earn if you are in repayment.
Interest rates for postgraduate loans will be 4.6%.
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Comments
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Due to the base rate change the rate from 1st September should be 1.25% for plan 1 loans.
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