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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Martin Lewis on why students will pay an extra £2,000 on loans under frozen threshold

The student loan repayments threshold is being frozen from April affecting millions of people who recently graduated - and it means many earners will now pay more tax.

The changes affect people on plan two loans - these are those who started university in or after 2012 in England and Wales and who currently work and repay their loans.

Under the current threshold, you pay 9% of everything you earn above £27,295 a year.

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