Legislation
Student Loan & Postgraduate Loan Rates and Thresholds 2024-25
Date
Effective 6 April 2024
Summary
Rates and thresholds 2024-25
| Deduction rate % | Plan type threshold for 2023 to 2024 | Pay frequency equivalent | ||
|---|---|---|---|---|
| Plan Type 1 | 9% | £24,990.00 | Weekly 2 weekly 4 weekly Monthy | £24,990 / 52x1 = £480.57 £24,990 / 52x2 =£961.15 £24,990 / 52x4 = £1,922.30 £24,990 / 12x1 = £2,082.50 |
| Plan Type 2 | 9% | £27,295.00 | Weekly 2 weekly 4 weekly Monthy | £27,295 / 52x1 = £524.90 £27,295 / 52x2 = £1049.80 £27295 / 52x4 = £2,099.61 £27,295 / 12x1 = £2,274.58 |
| Plan Type 4 | 9% | £31,395.00 | Weekly 2 weekly 4 weekly Monthy | £31,395/ 52x1 = £603.75 £31,395/ 52x2 = £1,207.50 £31,395/ 52x4 = £2,415.00 £31,395/ 12x1 = £2,616.25 |
| Postgraduate loans (PGL) | 6% | £21,000.00 | Weekly 2 weekly 4 weekly Monthy | £21000 / 52x1 = £403.84 £21000 / 52x2 = £807.69 £21000 / 52x4 = £1,615.38 £21000 / 12x1 = £1,750.00 |
Tax fact card 2024 – 2025
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