Your plan depends on where you lived when you applied and the year your course started.
ESTIMATE
Illustrative estimates for the 2026/27 tax year (6 April 2026 – 5 April 2027) as of 3 November 2026 — not financial advice. Thresholds from GOV.UK; interest rates for 1 September 2026 – 31 August 2027 from the Student Loans Company. Your payslip may differ by a pound or two because payroll rounds each pay period.
Your student loan plan depends on where you lived when you applied and when your course began. English students who started before September 2012 are on Plan 1, those who started between September 2012 and July 2023 are on Plan 2, and those who started from 1 August 2023 are on Plan 5. Scottish students are on Plan 4, Northern Irish students on Plan 1, and master’s or PhD loans in England and Wales are Postgraduate Loans.
Your plan depends on where you lived when you applied and when your course started. Scottish and NI postgraduate tuition loans join Plan 4 and Plan 1.
The five plan types at a glance
Plan
Who has it
Threshold 2026/27
Interest from Sept 2026
Written off after
Plan 1
England/Wales before Sept 2012; Northern Ireland
£26,900
4.1%
25 years
Plan 2
England/Wales, started Sept 2012 – July 2023 (Wales: also later)
£29,385
4.1%–6%
30 years
Plan 4
Scotland (SAAS)
£33,795
4.1%
30 years
Plan 5
England, started from 1 Aug 2023
£25,000
4.1%
40 years
Postgraduate Loan
Master’s/doctoral loan, England & Wales
£21,000
6.0%
30 years
England
England has three undergraduate plans, separated by the two big funding reforms. Students who started before 1 September 2012 borrowed under the old £3,000-fee system and are on Plan 1. The trebling of fees to £9,000 in 2012 created Plan 2, which covers everyone who started between 1 September 2012 and 31 July 2023. Students starting from 1 August 2023 are on Plan 5, with a lower threshold, a lower interest rate and a 40-year term.
The start date of the course matters, not the year you took the loan. If you began a degree in 2022, took a gap year and returned in 2024, you are still on Plan 2 for that course. A second, new undergraduate course started after August 2023 would be on Plan 5, which is how some people end up with two plans (see repaying two student loans).
Wales
Welsh-domiciled students who started before September 2012 are on Plan 1, and those who started from September 2012 are on Plan 2 — including students starting after August 2023, because Plan 5 is an England-only reform. Welsh students who are on Plan 2 benefit from the same £29,385 threshold.
Scotland and Northern Ireland
Loans from the Student Awards Agency Scotland (SAAS) are Plan 4, whatever the start date, and that includes SAAS postgraduate tuition loans. Plan 4 has the highest threshold — £33,795 in 2026/27. Northern Ireland students funded by Student Finance NI are on Plan 1, again regardless of start year, and an NI postgraduate tuition loan is also Plan 1.
See your full payslip
Add your student loan plan to the UK take-home pay calculator to see income tax, National Insurance, pension and loan repayments together for 2026/27.
Master’s loans (from 2016) and doctoral loans (from 2018) from Student Finance England or Student Finance Wales are repaid as a separate Postgraduate Loan, sometimes called Plan 3. It is repaid at 6% above £21,000, in addition to your undergraduate plan. Read more in Postgraduate Loan repayments.
How to check your plan type
Your Student Loans Company online account — the “Repayments” section shows each loan and its plan type. This is the authoritative answer.
Your annual statement from the SLC lists the plan and balance.
Your payslip usually shows a “Student loan” line and sometimes a plan code (for example “SL Plan 2” or “PGL”). If you think the plan is wrong, tell your employer and the SLC — employers act on the plan type notified to them.
Your P60 at the end of the tax year shows total student loan deductions, which you can compare with the figures on our salary pages.
Wrong plan? A Plan 5 borrower charged as Plan 2 would underpay, while a Plan 2 borrower charged as Plan 5 would overpay by £395 a year on any salary above £29,385. The SLC can correct the balance and refund over-deductions.
Why the plan matters so much
The plan decides three things: how much you repay each month (through the threshold), how fast the balance grows (through the interest rate) and when any remainder is cancelled. On a £40,000 salary the monthly deduction is £98 on Plan 1, £79 on Plan 2, £46 on Plan 4 and £112 on Plan 5. Over a working life, the 40-year Plan 5 term usually matters even more than the threshold — see Plan 2 vs Plan 5.
FAQ
Am I on Plan 1 or Plan 2?
If you lived in England or Wales and started your course before 1 September 2012 you are on Plan 1; if you started on or after that date (and, in England, before 1 August 2023) you are on Plan 2. Northern Ireland students are always on Plan 1.
Who is on Plan 5?
Students from England who started an undergraduate course on or after 1 August 2023. Plan 5 does not apply to students from Wales, Scotland or Northern Ireland.
Is a Scottish student loan Plan 4?
Yes. Loans from the Student Awards Agency Scotland are Plan 4, including SAAS postgraduate tuition fee loans.
How can I check which student loan plan I have?
Sign in to your Student Loans Company online account and look at the repayment section, or check your annual statement. Your payslip may also show the plan code.
Can I have more than one plan?
Yes. Common combinations are Plan 2 plus a Postgraduate Loan, or Plan 1 plus Plan 2 for people who studied twice. Each is tracked separately, and repayments are shared out between them.
GOV.UK, Repaying your student loan – what you pay: 2026/27 thresholds Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, Postgraduate Loan £21,000; 9% (6% for PGL) of income above the threshold; rules for more than one plan (read 3 November 2026).
Student Loans Company / Department for Education, Student loans interest rates and repayment threshold announcement, 10 August 2026: RPI 4.1%; Plan 1 4.1%; Plan 2 4.1%–7.1% capped at 6%; Plan 3 (Postgraduate) capped at 6%; Plan 5 4.1% (1 Sep 2026 – 31 Aug 2027); Plan 1 threshold £28,005 from 6 April 2027.
Department for Education press release, Interest rate cap introduced to protect Plan 2 borrowers, 7 April 2026, and written ministerial statement of 13 April 2026: 6% cap for 2026/27; Plan 2 upper interest threshold £52,885 from 6 April 2026.
Autumn Budget 2025 (26 November 2025): Plan 2 repayment threshold frozen at £29,385 for 2027/28 to 2029/30 (reported by Which?, 5 December 2025).
Take-home pay: HMRC 2026/27 income tax and National Insurance for England, Wales and Northern Ireland (personal allowance £12,570, 8%/2% employee NI), as used on our UK salary after tax pages.