Freezing the student loan repayment threshold
Read the full outcome
Detail of outcome
We鈥檝e decided to implement a repayment threshold freeze for all borrowers with post-2012 (鈥楶lan 2鈥�) loans. The repayment threshold will be 拢21,000 at April 2016, and it will not be uplifted until at least April 2021, when the threshold will be reviewed.
The 鈥榰pper鈥� interest threshold of 拢41,000 will be frozen at the same time to ensure that variable interest rates applied for those earning between 拢21,000 and 拢41,000, remain unaltered.
Detail of feedback received
We received 489 responses from a wide variety of interested parties including:
- individuals
- universities
- students鈥� unions
- higher education representative bodies
- businesses and business organisations
- professional bodies
Original consultation
Consultation description
We are consulting to gather views on a proposal to keep the student loan repayment threshold at the same level for 5 years.
This new proposal was announced in the Budget on 8 July. The government wants to ensure higher education remains open and affordable to students, graduates and taxpayers in the long-term.
Documents
Updates to this page
-
Added the government response, including summary of responses, and the equality analysis.
-
First published.