The threshold is the amount above which Student Loan repayments should be paid.
The Education (Student Loans) (Repayment) Regulations 2000 refer to an annual threshold and explain what income must be taken into account to determine whether the threshold is exceeded.
Employers making Student Loan deductions will apply the proportion of the threshold appropriate to the pay period in calculating the amount of Student Loan repayments to deduct.
The amount of the threshold is as follow
From |
Annual Threshold |
6 April 2000 |
£10,000 |
6 April 2005 |
£15,000 |