Old and new Student loan
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My daughter has graduated this year (so has three years of student loans). She’s taking a year out and plans to do PGCE next year. I didn’t realise PGCE is funded using the undergraduate student loan system. I wish she’d applied for this year as now she’s going to have to be funded under the new system for PGCE. I’m not sure how repayments will work. Does she make one repayment in due course and it’s split across the loans for her two courses. After 30 years payment for her first loan stops but then payment for her second loan increases and continues for another 10 years?
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Whilst all undergraduate loans, as current plan 2 loans and post Sep 23 loans will both have different earnings thresholds and write off dates I can only assume they will call them something other than plan 2 and treat them in the same way as someone with both plan1 and 2 loans otherwise it will get very complicated when it comes to repayment.
Here is some information on how current repayments work when you have more than one type of loan.