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Student loan plan 1&2

1988char
1988char Posts: 1 Newbie
in Loans
Hi,
I'm on plan one of my students loan as I started uni in 2007/08. However, I'm starting my teacher training in September so that would be plan 2. My question is when I start repaying how does it work? As I'll have 2 different plans. 

Thanks in advance! 

Comments

  • DrEskimo
    DrEskimo Posts: 2,454 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    "If you have Plan 1 and Plan 2 loans

    You pay back 9% of your income over the Plan 1 threshold (£372 a week or £1,615 a month).

    If your income is under the Plan 2 threshold (£511 a week or £2,214 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

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