Legislation
Student Loan & Postgraduate Loan Rates and Thresholds 2023-24
Date
Effective 6 April 2023
Summary
| Deduction rate % | Plan type threshold for 2023 to 2024 | Pay frequency equivalent | ||
|---|---|---|---|---|
| Plan Type 1 | 9% | £22,015.00 | Weekly 2 weekly 4 weekly Monthy | £22015 / 52x1 = £423.36 £22015 / 52x2 = £846.73 £22015 / 52x4 = £1,693.46 £22015 / 12x1 = £1,834.58 |
| Plan Type 2 | 9% | £27,295.00 | Weekly 2 weekly 4 weekly Monthy | £27295 / 52x1 = £524.90 £27295 / 52x2 = £1049.80 £27295 / 52x4 = £2099.61 £27295 / 12x1 = £2274.58 |
| Plan Type 4 | 9% | £27,660.00 | Weekly 2 weekly 4 weekly Monthy | £27660 / 52x1 = £531.92 £27660 / 52x2 = £1,063.84 £27660 / 52x4 = £2,127.69 £27660 / 12x1 = £2,305.00 |
| Postgraduate loans (PGL) | 6% | £21,000.00 | Weekly 2 weekly 4 weekly Monthy | £21000 / 52x1 = £403.84 £21000 / 52x2 = £807.69 £21000 / 52x4 = £1615.38 £21000 / 12x1 = £1750.00 |
Tax fact card 2024 – 2025
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