What Student Loan Plan Am I On?
Which student loan plan you are on is decided by where you lived when you applied and when your course started. English and Welsh starters before September 2012, and all Northern Ireland borrowers, are on Plan 1. English starters between September 2012 and July 2023 and Welsh starters from September 2012 are on Plan 2. Scotland-domiciled borrowers are on Plan 4, English starters from August 2023 are on Plan 5, and a Postgraduate Loan runs alongside any of these.
Once you know your plan, compare it against the others on the student loan plans page, or look up your student loan repayment threshold.
Key Takeaways
- Five active plans exist in 2026/27: Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan, each with a different threshold, interest rate and write-off period.
- Your plan depends on when and where you started studying — not where you live now or where you work.
- You can confirm your plan instantly via your SLC online account or by reading the deduction code on your payslip (01, 02, 04, or PGL).
- You can hold two plans at once — most commonly an undergraduate plan plus a Postgraduate Loan — and both are deducted from your salary at the same time.
- There is no Plan 3 — the number was reserved for a Northern Ireland variant that was never introduced. The Postgraduate Loan is often mistakenly called “Plan 3”.
In this article
Your student loan plan determines your repayment threshold, interest rate, and how long until your debt is written off. These figures differ significantly between plans — knowing yours is the first step to understanding what you actually owe and when you stop paying.
This guide gives you a quick decision table to identify your plan, then explains each plan's key terms in full. Use our student loan calculator to model your repayments once you know which plan applies to you.
Quick Plan Identifier
Match your start date and country of study to find your plan. If you studied in more than one country or at postgraduate level, you may qualify for more than one plan.
| When you started | Where you studied | Your plan |
|---|---|---|
| Before 1 September 2012 | England or Wales | Plan 1 |
| Any time | Northern Ireland | Plan 1 |
| 1 September 2012 — 31 July 2023 | England or Wales | Plan 2 |
| Any time (funded by SAAS) | Scotland | Plan 4 |
| 1 August 2023 onwards | England | Plan 5 |
| Any postgraduate course start date | England or Wales | Postgraduate Loan |
“Funded by SAAS” means you applied for your funding through the Student Awards Agency Scotland. GOV.UK confirms that anyone who applied to SAAS is on Plan 4, whatever year the course started and wherever in the UK you studied (source: GOV.UK, which repayment plan you are on). Welsh students who started from 2018/19 onwards also have a hybrid arrangement — check with Student Finance Wales if unsure.
Plan 1
Who qualifies
- England or Wales: started undergraduate study before 1 September 2012
- Northern Ireland: all undergraduate borrowers
| Term | 2025/26 | From April 2026 |
|---|---|---|
| Repayment threshold | £26,065 | £26,900 |
| Repayment rate | 9% | 9% |
| Interest rate | RPI (lower of RPI or Bank of England base rate + 1%) | RPI |
| Write-off period | 25 years after first repayment due | 25 years |
Plan 1 carries the oldest terms. The 25-year write-off and RPI-only interest rate make it relatively favourable compared to newer plans. Your payslip shows the code 01 if Plan 1 deductions are active.
Plan 2
Who qualifies
- England: started undergraduate study between 1 September 2012 and 31 July 2023. Wales: started on or after 1 September 2012, including courses after 2023
- This is the most common plan — it covers roughly a decade of graduates
| Term | 2025/26 | From April 2026 |
|---|---|---|
| Repayment threshold | £28,470 | £29,385 (then frozen until Apr 2030) |
| Repayment rate | 9% | 9% |
| Interest rate | RPI + 0% to 3%, capped at 6% (income-linked) | RPI + 0% to 3%, capped at 6% |
| Write-off period | 30 years after first repayment due | 30 years |
Plan 2 interest rises to RPI + 3%, capped at 6%, while you study and once you earn £52,885 or more. At or below £29,385 it is RPI only. The threshold freeze from April 2027 to April 2030 means more Plan 2 graduates will cross into repayment over the next few years as wages rise.
Your payslip shows the code 02. For the full threshold, interest and write-off rules, see the plan 2 student loan page, or our Plan 2 strategy guide for overpayment and career decisions.
Plan 4 (Scotland)
Who qualifies
- Anyone who applied for funding through the Student Awards Agency Scotland (SAAS), whatever year the course started
- Applies whether you studied in Scotland or elsewhere in the UK
| Term | 2025/26 | From April 2026 |
|---|---|---|
| Repayment threshold | £32,745 | £33,795 |
| Repayment rate | 9% | 9% |
| Interest rate | RPI | RPI |
| Write-off period | 30 years after first repayment due | 30 years |
Plan 4 has the highest repayment threshold of any undergraduate plan. A Scottish graduate earning £33,000 in 2025/26 pays just £22.95 a year. The payslip deduction code is 04. Note: anyone funded by SAAS is on Plan 4 whatever year their course started, even if they studied at an English or Welsh university (source: GOV.UK, which repayment plan you are on).
Plan 5
Who qualifies
- England: started undergraduate study from 1 August 2023 onwards
- This is the newest undergraduate plan and applies to the current cohort of students
| Term | 2025/26 | From April 2026 |
|---|---|---|
| Repayment threshold | £25,000 | £25,000 (frozen until April 2027) |
| Repayment rate | 9% | 9% |
| Interest rate | RPI only, currently 4.1% | RPI only, currently 4.1% |
| Write-off period | 40 years after first repayment due | 40 years |
Plan 5 has the lowest undergraduate threshold (£25,000) and the longest write-off period (40 years). The first Plan 5 repayments became due in April 2026.
Your payslip will show the code 05 once repayments begin. For the full threshold, interest and write-off rules, see the plan 5 student loan page, or our Plan 5 optimisation guide for a detailed breakdown of what the 40-year write-off means for total repayments.
Postgraduate Loan
Who qualifies
- England or Wales residents taking a master's or doctoral course from 2016 onwards
- You must be under 60 when the course starts
- Scotland and Northern Ireland have separate postgraduate funding — check with SAAS or Student Finance NI
| Term | 2025/26 | From April 2026 |
|---|---|---|
| Repayment threshold | £21,000 | £21,000 |
| Repayment rate | 6% | 6% |
| Interest rate | RPI + 3%, capped at 6% | RPI + 3%, capped at 6% |
| Write-off period | 30 years after first repayment due | 30 years |
The Postgraduate Loan has distinct terms from all undergraduate plans. The threshold has been frozen at £21,000 since 2016, meaning it has fallen substantially in real terms. In payslip records, this plan appears as PGL — not “03”.
See our Postgraduate Loan strategy guide for a detailed breakdown, including whether overpaying voluntarily makes sense. For the common confusion about “Plan 3”, read our Plan 3 explained guide.
Holding Multiple Plans
You can hold two active plans at the same time. The most common combination is an undergraduate plan (Plan 1, 2, 4, or 5) alongside a Postgraduate Loan. Both deductions run simultaneously from your salary.
Example: Plan 2 + Postgraduate Loan at £38,000
- Plan 2 deduction: 9% of (£38,000 − £29,385) = 9% of £8,615 = £775.35/yr
- PGL deduction: 6% of (£38,000 − £21,000) = 6% of £17,000 = £1,020/yr
- Total deduction: £1,795.35/yr (£149.61/month)
Each plan is assessed independently against its own threshold. Your employer receives both plan codes from HMRC and applies both deductions to the same payslip.
Note: You cannot hold two undergraduate plans at once. If you studied in Scotland after 2012 and then moved to England for a new degree starting August 2023, contact SLC to confirm which plan applies — it depends on your domicile status and funding source.
How to Check Your Plan
Use any of the three methods below to confirm your plan.
1. SLC Online Account
- Go to slc.co.uk and sign in to your online account
- Select View my loan details
- Your plan type appears next to each loan — it shows “Plan 1”, “Plan 2”, “Plan 4”, “Plan 5”, or “Postgraduate Loan”
- If you have more than one loan, you will see separate entries for each
2. Payslip Deduction Code
Once you are in employment and above the threshold, check your payslip. The student loan line shows a deduction code:
| Payslip code | Plan |
|---|---|
| 01 | Plan 1 |
| 02 | Plan 2 |
| 04 | Plan 4 |
| 05 | Plan 5 |
| PGL | Postgraduate Loan |
3. Contact SLC Directly
If you cannot access your online account, call the Student Loans Company on 0300 100 0611 (England/Wales) or 0300 100 0177 (Scotland). Have your National Insurance number ready. They can confirm your plan type and current balance within minutes. The same online account is where you check your student loan balance, and our guide explains why the figure shown there usually lags what your payslip has already deducted.
See our full guide to repayment thresholds for the latest figures for each plan, including monthly and weekly breakdowns.
Calculate Your Repayments
Now you know your plan — enter your salary to see exactly what you'll repay each month.
Student Loan Calculator UK Editorial Team
Editorial Team
This page is maintained by the Student Loan Calculator UK editorial team, checked against GOV.UK and Student Loans Company guidance. Read more about our editorial approach.
Related Guides
Plan 3 Student Loan Explained
Why there is no Plan 3 and what people really mean when they use that term.
Plan 2 Strategy Guide
Whether to overpay, how the threshold freeze affects you, and what to expect over 30 years.
Plan 5 Optimisation Guide
How the 40-year write-off changes the maths for newer graduates, and when overpaying makes sense.
Repayment Thresholds Guide
Full breakdown of current and April 2026 thresholds for all five plans, with monthly and weekly figures.