Table 6b: Forecast of repayment thresholds, by plan type
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Forecast of repayment thresholds, by plan type.
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Data set details
- Theme
- Finance and funding
- Publication
- Student loan forecasts for England
- Release
- Financial year 2024-25
- Release type
- Number of rows
- 24
- Geographic levels
- National
- Indicators
- Repayment threshold
- Filters
- Plan type of loan
- Time period
- 2024-25 to 2029-30
Data set preview
| plan_type | repayment_threshold | time_period | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|
| Plan 1 | 24990 | 202425 | Financial year | National | E92000001 | England |
| Plan 1 | 26065 | 202526 | Financial year | National | E92000001 | England |
| Plan 1 | 26952 | 202627 | Financial year | National | E92000001 | England |
| Plan 1 | 27950 | 202728 | Financial year | National | E92000001 | England |
| Plan 1 | 28817 | 202829 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| plan_type | Plan type of loan - Filter by plan type |
| repayment_threshold | Repayment threshold |
Footnotes
- Coverage: All borrowers who receive loans through Student Finance England. For further details on eligibility, please see the Student Finance England practitioner website: https://www.practitioners.slc.co.uk/products (opens in a new tab).
- A summary timeline of the introduction of different plan types is available in Table 1.1 in the publication Methodology: https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology
- Plan 1 loans include unsold, retained and loans sold at both sale 1 and sale 2. For more information on the loan sales, go to:Sale 1: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2017-12-06/HCWS317 (opens in a new tab)Sale 2: https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-04/HCWS1137 (opens in a new tab).
- Repayment thresholds are presented as multiples of £5 in line with the policy for calculating them.
- Plan 1 threshold increases each April based on RPI. The Plan 2 threshold remains at £27,295 until April 2025, increasing with RPI at that point and thereafter. The Plan 5 threshold is set at £25,000 until April 2027, increasing with RPI at that point and thereafter. The Plan 3 threshold has been set at £21,000 up to 2025-26 and will be reviewed for 2026-27. To enable future repayments to be forecast, it is assumed that the repayment threshold will increase in line with average earnings growth.
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