Student loan repayment threshold frozen

The income level at which people have to pay back their student loan has been frozen at £27,295 for the next 12 months

In a written parliamentary statement published on Friday, higher education minister Michelle Donelan stated that the salary threshold for student loan repayments in England would be frozen at current levels of £27,295 per year, £2,274 a month, or £524 a week for 2022-23.

Loan repayments for post-graduate students will also be frozen at £21,000 per year, £1,750 a month, or £404 a week in 2022-23.

Donelan said: ‘It is now more crucial than ever that higher education is underpinned by just and sustainable finance and funding arrangements, and that the system provides value for money for all of society at a time of rising costs.

‘This government has already confirmed that we will freeze maximum tuition fee caps again for the 2022-23 academic year, the fifth year in succession that we have held fee caps at current levels.’

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