Plan 1: started pre-2012 in England/Wales or at any time in Northern Ireland. Plan 2: started 2012+ in England/Wales. Plan 4: Scotland. Plan 5: started August 2023+ in England. Postgraduate: master's or PhD loan. Check via your Student Loans Company account.

Can I have more than one plan?

Yes - it is common to have an undergraduate plan plus a Postgraduate Loan. Both are deducted simultaneously if you earn above each threshold.

Do repayments affect Income Tax?

No - student loan repayments are separate from Income Tax. They are collected via PAYE but go straight to SLC, not HMRC, and do not reduce your taxable income.

What happens if I don't earn enough?

You pay nothing. Repayments only start once you earn above the threshold for your plan, and only 9% (or 6% for Postgrad) of earnings above that threshold.

What's the threshold for my plan?

2026/27: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, Postgraduate £21,000. Thresholds are reviewed annually.

Plan 4 (Scotland) Student Loan on £45,000 UK 2026/27

Plan 4 is the Scottish replacement for Plan 1, covering Scottish students. Higher repayment threshold than Plan 1, otherwise similar mechanics (9% above threshold).

Annual repayment

£1,008

Monthly repayment

£84

Effective rate on salary

2.24%

Compare across all plans on the same £45,000 salary

Plan	Annual repayment	Monthly	Effective rate
Plan 1	£1,629	£136	3.62%
Plan 2	£1,405	£117	3.12%
Plan 4 (Scotland)	£1,008	£84	2.24%
Plan 5	£1,800	£150	4.00%
Postgraduate	£1,440	£120	3.20%

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FAQ

Which plan am I on?: Plan 1: started pre-2012 in England/Wales or at any time in Northern Ireland. Plan 2: started 2012+ in England/Wales. Plan 4: Scotland. Plan 5: started August 2023+ in England. Postgraduate: master's or PhD loan. Check via your Student Loans Company account.
Can I have more than one plan?: Yes - it is common to have an undergraduate plan plus a Postgraduate Loan. Both are deducted simultaneously if you earn above each threshold.
Do repayments affect Income Tax?: No - student loan repayments are separate from Income Tax. They are collected via PAYE but go straight to SLC, not HMRC, and do not reduce your taxable income.
What happens if I don't earn enough?: You pay nothing. Repayments only start once you earn above the threshold for your plan, and only 9% (or 6% for Postgrad) of earnings above that threshold.
What's the threshold for my plan?: 2026/27: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, Postgraduate £21,000. Thresholds are reviewed annually.