Student loan Plan 2 repayment threshold: every value since 2016
The yearly earnings above which employers deduct repayments for this type of student loan (9% of earnings above it; 6% for postgraduate loans). Plan 2 loans: students in England and Wales who started on or after 1 September 2012 (and before 1 August 2023 in England).
HM Revenue and Customs gives 11 values for this rate, from £21,000 in 2016 to 2017 to £29,385 in 2026 to 2027. Of the 10 year-to-year steps, it stayed the same in 4, went up in 6 and never went down. The largest rise from one value to the next was +19.0%, in 2018 to 2019 (from £21,000 to £25,000). Across the whole series the cash value changed by +39.9%. The value in 2025 to 2026 was +4.3% on the one before; ONS CPI inflation for calendar year 2025 was 3.4%. Ten years before the latest value, in 2016 to 2017, it was £21,000.
Earnings threshold
| Tax year | Earnings threshold (a year) | Change on previous value | CPI inflation that calendar year (ONS, D7G7) |
|---|---|---|---|
| 2026 to 2027 | £29,385 | +3.2% | not yet published |
| 2025 to 2026 | £28,470 | +4.3% | 3.4% |
| 2024 to 2025 | £27,295 | – | 2.5% |
| 2023 to 2024 | £27,295 | – | 7.3% |
| 2022 to 2023 | £27,295 | – | 9.1% |
| 2021 to 2022 | £27,295 | +2.7% | 2.6% |
| 2020 to 2021 | £26,575 | +3.3% | 0.9% |
| 2019 to 2020 | £25,725 | +2.9% | 1.8% |
| 2018 to 2019 | £25,000 | +19.0% | 2.5% |
| 2017 to 2018 | £21,000 | – | 2.7% |
| 2016 to 2017 | £21,000 | 0.7% |
CPI: ONS series D7G7, for the calendar year the period starts in. About these tables · CSV
Related pages
- Student loan Plan 1 repayment threshold
- Student loan Plan 4 repayment threshold
- Student loan Plan 5 repayment threshold
- Inflation calculator
Sources and receipts
- HMRC Rates and thresholds for employers, HM Revenue and Customs: 11 yearly documents from 2016 to 2026, each linked from its row in the table. Read 2026-10-15. File addresses and SHA-256: receipts for each document.
- Consumer price inflation time series (MM23), Office for National Statistics.
File: mm23.csv. Read 2026-10-15. SHA-256
1b78749ea634755b83064d88f4fc6f7dd177e0c41d8b573c9d8172b8d3fff641