Below are extracts of a letter I have written to my MSP. Just wondering if there is anyone else in the same position where you are just above the threshold that has not been increased for at least 7 years
In SAAS documentation I have found online, the PTFG threshold has been £25,000 since at least 2017. Since then, we have seen unprecedented inflation, caused by Brexit, and the COVID pandemic which has now led to the “Cost of Living Crisis”. Based on a quick calculation on the Bank of England inflation calculator, £25,000 would today be worth £31,801.
I am the main wage earner in our household (me, my wife and 2 teenage children) as a bus driver who works a 39-hour week at £14 an hour. This means my annual income is expected to be circa £27,000-£28,500 for 2023-2024. As you can see, this is above the current threshold but is way below the 2024 inflation-adjusted figure.
Once you also consider the rising cost of food, gas and electricity, fuel, insurance etc., it will be quite a struggle to pay nearly £600 every 8 months to the Open University to continue my studies for Level 2 and Level 3.