Find your plan
| You applied through | Course started | Undergraduate, PGCE, Advanced Learner Loan | Master's or doctoral |
|---|---|---|---|
| Student Finance England | On or after 1 August 2023 | Plan 5 | Postgraduate Loan |
| Student Finance England | 1 September 2012 to 31 July 2023 | Plan 2 | Postgraduate Loan |
| Student Finance England | Before 1 September 2012 | Plan 1 | No government loan |
| Student Finance Wales | On or after 1 September 2012 | Plan 2 | Postgraduate Loan |
| Student Finance Wales | Before 1 September 2012 | Plan 1 | No government loan |
| Student Awards Agency Scotland | Any date | Plan 4 | Plan 4 |
| Student Finance Northern Ireland | Any date | Plan 1 | Plan 1 |
Not sure? Your plan is on your annual statement from the Student Loans Company and in your online repayment account, and your payslip shows the deduction against a plan type. If you have an undergraduate loan and a Postgraduate Loan, both are deducted at once.
What each plan means for your pay, 2026/27
| Plan | Repay above | Rate | Interest | Written off after |
|---|---|---|---|---|
| Plan 1England and Wales before September 2012; Northern Ireland | £26,900 | 9% | 4.1% | 25 years |
| Plan 2England, September 2012 to July 2023; Wales, from September 2012 | £29,385 | 9% | 4.1% to 6.0%, rising with income | 30 years |
| Plan 4Scotland | £33,795 | 9% | 4.1% | 30 years |
| Plan 5England from August 2023 | £25,000 | 9% | 4.1% | 40 years |
| PostgraduateMaster’s and doctoral, England and Wales | £21,000 | 6% | 6.0% (capped) | 30 years |
Repayments are the rate on pay above the threshold, taken from each payday on the same pay as National Insurance, so salary sacrifice lowers them. Write-off counts from the April you were first due to repay, the April after you finished. Plan 2 interest is RPI (4.1%) at or below £29,385 of income, rising in proportion to RPI plus 3% at £52,885; no plan is charged more than the 6% cap the Student Loans Company is applying this year; only Plan 2 at higher incomes and Postgraduate loans reach it.
What your plan means for overpaying
Plan 5's lower threshold and 40-year write-off mean most borrowers repay for most of their working life; Plan 2's higher threshold and 30 years mean many never clear it. Whether you would is what decides what an overpayment changes, and the calculator works that out from your balance and pay.
Try the student loan repayment calculator
Sources
Income tax and National Insurance
Student loans
We checked every figure against these pages between 19 and 20 October 2026.