Students: Loans
The question
To ask the Secretary of State for Education, if she will ensure that future people that attend university will not have the repayment thresholds for their student loans altered after taking them out.
Answered by Josh MacAlister
This government increased Plan 2 repayment thresholds in April 2025 and again in April 2026, to protect lower-earning graduates and keep more money in their pockets. Between 2012 and 2024, then governments only increased repayment thresholds twice throughout that period.
The government recently capped interest rates on Plan 2 loans at a maximum of 6% and is considering a range of options to make the system fairer. In order to be fiscally responsible, consideration must be taken regarding how any change would be funded.
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