You’ll only repay your student loan when your income is over the threshold amount for your repayment plan
The threshold amounts change on 6 April every year
From 6 April 2020, the repayment threshold for pre-2012 (Plan 1) loans will rise to £19,390.
The repayment threshold for post-2012 (plan 2) loans will rise to £26,575 from 6 April 2020 to 5 April 2021.
Student Loan Repayment if you have 2 or more jobs
If you’re employed, your repayments will be taken out of your salary. The repayments will be from the jobs where you earn over the minimum amount, not your combined income.
Example
You have a Plan 1 loan.
You have 2 jobs, both paying you a regular monthly wage. Before tax and other deductions, you earn £1,000 a month from one job and £800 a month for the other.
You will not have to make repayments because neither salary is above the £1,577 a month threshold.
Example
You have a Plan 2 loan.
You have 2 jobs, both paying you a regular monthly wage. Before tax and other deductions, you earn £2,300 a month from one job and £500 a month for the other.
You will only make repayments on the income from the job that pays you £2,300 a month because it’s above the £2,143 threshold.
Derby Community Accountancy Service 