Student Loan repayment plan.

Mrobbin1

Hi

My daughter started university in 2010 and graduated in 2013 borrowing maintenance and tuition fees.

In 2015 she did a teacher training course for which she borrowed the tuition fees.

For repayments, should she be on plan 1 for the university degree and plan 2 for the teacher training course or will the whole loan be treated as a plan 2?

Thanks very much

Michael Robbins

Ed-1

Mrobbin1 wrote: »

Hi

My daughter started university in 2010 and graduated in 2013 borrowing maintenance and tuition fees.

In 2015 she did a teacher training course for which she borrowed the tuition fees.

For repayments, should she be on plan 1 for the university degree and plan 2 for the teacher training course or will the whole loan be treated as a plan 2?

Thanks very much

Michael Robbins

Loans taken out for the course starting pre-2012 are on plan 1. Loans taken out for the course starting post-2012 are on plan 2.

If you have Plan 1 and Plan 2 loans

You pay back 9% of your income over the Plan 1 threshold (£364 a week or £1,577 a month).

If your income is under the Plan 2 threshold (£494 a week or £2,143 a month), your repayments only go towards your Plan 1 loan.

If your income is over the Plan 2 threshold, your repayments go towards both your loans.

https://www.gov.uk/repaying-your-student-loan/what-you-pay