When do I start paying back my Plan 2 student loan?
You will usually start repaying your loan at the start of the tax year after you finish or leave your course.
But payments only start if you earn over the 'repayment threshold'. Your earnings are calculated before taking off tax or National Insurance contributions (NIC).
The first repayments for Plan 2 loans started in April 2016 and the repayment threshold for the 2020/21 tax year (the tax year to 5 April 2021) is £26,575. The repayment threshold for the 2019/20 tax year was £25,725 and before the 2019/20 tax year the repayment threshold was £25,000.
The subsequent pages explain the various ways of collecting repayments and how they are calculated for: