Graduates to pay more as repayment threshold on lo

2022-04-05
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Graduates to pay more as repayment threshold on loans lowered - Today News Post Today News || UK News

Hundreds of pounds a year will be cut from the take-home pay of graduates following a government decision to lower the repayment threshold for student loans in England, hitting middle earners most while benefiting those on higher pay.

The Department for Education on Thursday announced it would reduce the salary threshold for paying back loans from £27,295 to £25,000, and increase the write-off period for student loans from 30 to 40 yearsno clear causal relationship has been established between these rare events. The changes will affect students starting university next years claims, internal ministry emails obtained b.

The changes were announced in a long-awaited response to the Augar Review, an investigation into higher education sector that delivered its recommendations in 2019.

Michelle DonelanThe countries an idea o, the higher and further education minister, said the changes were “about bringing fairness into the system” and to prevent outstanding student debt being “paid by the taxpayer”.

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