To ask the Chancellor of the Exchequer, how many and what proportion of people with Plan 2 student loans had an effective marginal deduction rate of at least (a) 51 per cent and (b) 71 per cent as a result of the combined effects of Income Tax, employee National Insurance contributions and Plan 2 student loan repayments in the 2024-25 tax year.
The Plan 2 Student Loan Scheme was introduced in 2012 under the Conservative and Liberal Democrat Coalition Government. The student finance system is heavily subsidised by government, and lower-earning graduates will always be protected, with any outstand...
Students: Loans