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Ref: BIS/15/626 PDF, 287KB, 36 pages
Ref: BIS/15/635 PDF, 706KB, 94 pages
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Detail of outcome
We’ve decided to implement a repayment threshold freeze for all borrowers with post-2012 (‘Plan 2’) loans. The repayment threshold will be £21,000 at April 2016, and it will not be uplifted until at least April 2021, when the threshold will be reviewed.
The ‘upper’ interest threshold of £41,000 will be frozen at the same time to ensure that variable interest rates applied for those earning between £21,000 and £41,000, remain unaltered.
Detail of feedback received
We received 489 responses from a wide variety of interested parties including:
- students’ unions
- higher education representative bodies
- businesses and business organisations
- professional bodies
We're seeking your views on keeping the student loan repayment threshold at £21,000 for 5 years.
This consultation ran from
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.
Published: 22 July 2015
Updated: 25 November 2015
- Added the government response, including summary of responses, and the equality analysis.
- First published.