The 1-loan plan will be repaid as soon as you earn above the annual threshold of £19,390 per year, £1,615 per month or £372 per week. For example, if you earn £37,205 (halfway between £26,575 and £47,835), the interest applied to your loan this year is +1.5% (1.5% is half of 3%). If you started your course after 1 September 2012 in England or Wales, you will have a loan plan 2. You start paying off your student loan if you earn more than £26,575 a year, £2,214 a month or £511 a week. Did you lend in England and Wales between 1998 and 2012 or in Northern Ireland or Scotland since 1998? Just be sure to check the box on your tax return that states that you currently have student credit. The idea that you can give up your credit by emigrating is just one of many urban myths about tuition! If your course started before 1 September 2012 or you have a loan from student finance agencies in Northern Ireland or Scotland, you have a loan plan 1 that you repay if you earn more than £19,390 per year, £1,615 per month or £372 per week. You start paying off your 1-loan plan if you earn above the annual threshold of £19,390 and below £26,575 per year. The income threshold for the 2-loan plan is £26,575/year (£2,214/month or £511/week) before taxes. If you earn less than taxable income (salaries, professions, tips, etc.), you don`t pay a penny for your loan until you get back above the threshold. .