How to make student loan deductions
With effect from the 2016 to 2017 tax year there are 2 plan types for student loan repayments:
| Rate or threshold | 2018 to 2019 rate |
|---|---|
| Employee earnings threshold for Plan 1 | £18,330 per year £1,527.50 per month £352.50 per week |
| Employee earnings threshold for Plan 2 | £25,000 per year £2,083.33 per month £480.76 per week |
| Student loan deductions | 9% |
Student Loan is deducted if you have stated you have a student loan in your New Starter form or the HMRC have notified your employer to make deductions.
If you feel student loan shouldn't be deducted please contact the student loan Company who will be able to assist further. https://www.slc.co.uk/