Student loan Plan 2: repayment threshold

The yearly earnings above which plan 2 student loan repayments are deducted from pay.

£29,385.00per year

Derivation verified Derived United Kingdom in force since 2026-04-06

Checked against its sources: statute verified 2026-09-08·guidance verified 2026-09-21

Scope: A chain (D24). The first value is STATED by paragraph 2(1)(a) for TWO named years — one value, 6 April 2023 to 5 April 2025 — and is single-source: it is read from the inserting instrument's own text, and the GOV.UK page archived here is the 2026-27 one, which prints only the current figure. Every later value is our computation of paragraph 2(1)(b) from the previous value and Student loan: yearly threshold uprating factor, each carrying the formula that made it, recomputed by the build and refused where it disagrees. Paragraph 2(2) makes the threshold subject to regulation 44(6)'s default threshold, which is applicability and not a value.

How it is worked out: last year's value × Student loan: yearly threshold uprating factor, rounded up to the nearest 5 — recomputed from its corroborated inputs on every build.

Current sources

Source A · Legislationhttps://www.legislation.gov.uk/uksi/2022/1335/made (SI 2022/1335 reg 65, inserting Schedule 1A into SI 2009/470 — para 2(1)(b): for each repayment threshold year ending on or after 5th April 2026, the plan 2 threshold is "the amount rounded up to the nearest £5 (if necessary) being the product of— (i) the amount of the repayment threshold for the previous repayment threshold year, and (ii) the repayment threshold variable")

retrieved 2026-09-08

Source B · Official guidancehttps://www.gov.uk/guidance/rates-and-thresholds-for-employers-2026-to-2027 ("Employee earnings threshold for student loan plan 2": "£29,385 per year")

retrieved 2026-07-29

History

Value	From	To	Status	Sources
£27,295.00	2023-04-06	2025-04-05	Primary source only	Legislation: https://www.legislation.gov.uk/uksi/2022/1335/made (SI 2022/1335 reg 65, inserting Schedule 1A into SI 2009/470 — para 2(1)(a): the repayment threshold for a plan 2 loan is "£27,295 for the repayment threshold year ending on 5th April 2024 or 5th April 2025") retrieved 2026-09-08
£28,470.00	2025-04-06	2026-04-05	Derivation verified	Legislation: https://www.legislation.gov.uk/uksi/2022/1335/made (SI 2022/1335 reg 65, inserting Schedule 1A into SI 2009/470 — para 2(1)(b): for each repayment threshold year ending on or after 5th April 2026, the plan 2 threshold is "the amount rounded up to the nearest £5 (if necessary) being the product of— (i) the amount of the repayment threshold for the previous repayment threshold year, and (ii) the repayment threshold variable") retrieved 2026-09-08
£29,385.00	2026-04-06	—	Derivation verified	Legislation: https://www.legislation.gov.uk/uksi/2022/1335/made (SI 2022/1335 reg 65, inserting Schedule 1A into SI 2009/470 — para 2(1)(b): for each repayment threshold year ending on or after 5th April 2026, the plan 2 threshold is "the amount rounded up to the nearest £5 (if necessary) being the product of— (i) the amount of the repayment threshold for the previous repayment threshold year, and (ii) the repayment threshold variable") retrieved 2026-09-08 Official guidance: https://www.gov.uk/guidance/rates-and-thresholds-for-employers-2026-to-2027 ("Employee earnings threshold for student loan plan 2": "£29,385 per year") retrieved 2026-07-29

Receipt

Everything above is reproducible and independently checkable — no trust in this site required (how verification works).

Figure ID: employment.student_loan.plan2.threshold
Name in the API: Plan 2 student loan repayment threshold
Record fields (source type · unit · jurisdiction · status): derived·GBP/year·UK·derivation_verified
Derivation: roundup(this@prior * employment.student_loan.repayment_threshold_variable@numeric, 5)
Record hash (canonical JSON, SHA-256): sha256:aa1b6049a9f1cd3d4daf7b00b1c4dcf8282b4df2a215b1dac4eda58b75876be3
Source snapshots (SHA-256): Legislation: sha256:8024e6c34cf2298e77c8b9c1bffa0e2db86a545449d2a786fc241fe46dffbe55; Official guidance: sha256:2b130359261b54fc8f27f3e53cade20f559a6035397c2e3845de72e21ea4eede
Listed in the signed manifest: release 3.0.0 manifest · record_hashes["employment.student_loan.plan2.threshold"]
Machine-readable record: /v1/figures/employment.student_loan.plan2.threshold · current only: /v1/figures/employment.student_loan.plan2.threshold/current

Compiler's notes

Schedule 1A was inserted by SI 2022/1335 reg 65 with effect from 6 April 2023 (F-note on the archived current view of SI 2009/470, 2026-09-08: regs. 2(2), 65) and paragraph 2 has not been amended since. The chain, from the archived Marches: £27,295 × 1.043 = £28,468.69 → £28,470 (2025-26); £28,470 × 1.032 = £29,381.04 → £29,385 (2026-27), which is the figure HMRC's 2026-27 rates page prints. The receipt is the inserting instrument as made; the 2009 Regulations' own as-made text predates Schedule 1A.