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 2023-24
- Release type
- Geographic levels
- National
- Indicators
- Repayment threshold
- Filters
- Student loan plan type
- Time period
- 2023-24 to 2028-29
Data set preview
| plan_type | time_period | repayment_threshold | time_identifier | geographic_level | country_code | country_name |
|---|---|---|---|---|---|---|
| 1 | 202324 | 22015 | Financial year | National | E92000001 | England |
| 1 | 202425 | 24990 | Financial year | National | E92000001 | England |
| 1 | 202526 | 26190 | Financial year | National | E92000001 | England |
| 1 | 202627 | 26635 | Financial year | National | E92000001 | England |
| 1 | 202728 | 27245 | Financial year | National | E92000001 | England |
Variables in this data set
| Variable name | Variable description |
|---|---|
| plan_type | Student loan plan type - Filter by student loan plan type |
| threshold_domestic | 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.
- A summary timeline of introduction of different plan types is available in Table 1.1 in the Methodology: https://explore-education-statistics.service.gov.uk/methodology/student-loan-forecasts-for-england-methodology
- 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 up to 2023-24 and will be reviewed for 2024-25. 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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