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 5 Student Loan on £60,000 UK 2026/27

Plan 5 covers English students who started higher education from September 2023 onwards. Lower repayment threshold than Plan 2, and the write-off period extended to 40 years.

Annual repayment

£3,150

Monthly repayment

£263

Effective rate on salary

5.25%

Compare across all plans on the same £60,000 salary

Plan	Annual repayment	Monthly	Effective rate
Plan 1	£2,979	£248	4.96%
Plan 2	£2,755	£230	4.59%
Plan 4 (Scotland)	£2,358	£197	3.93%
Plan 5	£3,150	£263	5.25%
Postgraduate	£2,340	£195	3.90%

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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.