How many student loan plans are there in the UK?

There are five UK student loan plans in force in 2026/27: Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan (sometimes called Plan 3). Plan 1, 2, 4 and 5 are undergraduate plans and you can only be on one of them at a time. The Postgraduate Loan runs alongside whichever undergraduate plan you hold.

Can I be on more than one student loan plan?

Yes. You cannot hold two undergraduate plans at the same time, but a Postgraduate Loan runs alongside an existing undergraduate Plan 1, 2, 4 or 5 loan, and repayments on both are deducted simultaneously once your income is above each plan's own threshold.

Is Plan 5 available in Wales or Scotland?

No. Plan 5 applies to English students who started their course from 1 August 2023 onwards. Welsh students starting from that date remain on Plan 2 terms, and Scotland-domiciled students are on Plan 4 through the Student Awards Agency Scotland.

Which Student Loan Plan Am I On?

Q: What are the UK student loan repayment plans?

The UK student loan repayment plans are Plan 1 (England and Wales starters before September 2012, and all Northern Ireland borrowers), Plan 2 (England September 2012 to July 2023, Wales from September 2012), Plan 4 (Scotland), Plan 5 (England from August 2023) and the Postgraduate Loan. Each repayment plan has its own annual threshold and write-off period, and you repay 9% of income above the threshold on Plan 1, 2, 4 and 5 and 6% on the Postgraduate Loan.

There are five UK student loan plans: 1, 2, 4, 5 and Postgraduate. You repay 9% of income above your plan's threshold (6% on the Postgraduate Loan), and where and when you started your course sets your plan.

Lowest threshold: £21,000
Highest threshold: £33,795
Repayment rate: 9% / 6%

Source: GOV.UK, Repaying your student loan: how much you repay (opens in a new tab)

There are five UK student loan plans in 2026/27: Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan. Each repayment plan sets its own annual threshold, interest rate and write-off period. Compare all five below, or open a plan for the full rules.

Full rules for each plan: Plan 1 student loan, Plan 2 student loan, student loan Plan 4, Plan 5 student loans and the Postgraduate Loan (Plan 3).

Not sure which one you hold? Read what student loan plan am I on for the full step-by-step check, or see every student loan repayment threshold in one table. The plan finder below answers which student loan plan am I on from your start year and home nation.

Plan finder: narrow the five plans down to yours

Where did you study?

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You are on

Plan 2

£29,385 threshold · 9% repayment rate · written off 30 years after you start repaying

See Plan 2 in full →

What are the UK student loan repayment plans?

The UK student loan repayment plans are Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan. Plan 1, 2, 4 and 5 are undergraduate plans and you can only hold one of them at a time; the Postgraduate Loan runs alongside whichever undergraduate plan you have. Which plan applies to you is fixed by where you lived and when your course started, not by anything you choose. Once you know your plan, the student loan calculator for every plan shows your monthly repayment, total repaid and write-off date.

On every undergraduate plan you repay 9% of gross income above that plan's annual threshold. The Postgraduate Loan takes 6% above its own, lower threshold. The table below sets the five student loan plans side by side for the 2026-27 tax year, and our monthly repayment calculator converts whichever plan you are on into a monthly deduction from your salary.

The five student loan plans compared (2026-27)

Plan Type	Who It Applies To	Repayment Threshold	Interest Rate	Write-off Period
Plan 1 student loan	English/Welsh students who started before Sept 2012, and all Northern Ireland students	£26,900 per year	RPI or Bank of England base rate + 1% (whichever is lower)	25 years from repayment start date
Plan 2 student loan	English students Sept 2012 to Jul 2023, and Welsh students from Sept 2012 onwards	£29,385 per year	RPI to RPI + 3% depending on income, capped at 6%	30 years from repayment start date
Student loan Plan 4	Anyone funded through SAAS (Scotland), undergraduate or postgraduate	£33,795 per year	RPI or Bank of England base rate + 1% (whichever is lower)	30 years from repayment start date
Plan 5 student loans	English students who started on or after 1 August 2023 (England only; Wales stayed on Plan 2)	£25,000 per year	RPI only, during and after study	40 years from repayment start date
Postgraduate Loan (Plan 3)	Students on Master's or PhD courses	£21,000 per year	RPI + 3%, capped at 6%	30 years from repayment start date

Not sure which of the student loan plans applies to you?

Your student loan plan type depends on when and where you studied. If you're unsure which plan you're on:

Check your payslip — it should mention your plan type if you're making repayments
Log in to your online student loan account
Contact the Student Loans Company directly

For the full decision tree, including what to do when your payslip and your online account disagree, read what student loan plan am I on.

If you studied at different times, you might have multiple loan plans. Use our Combined Repayment Calculator to understand how multiple loans are repaid.

Key differences between the student loan plans

Repayment Rate

All undergraduate loans (Plan 1, 2, 4, and 5) use the same repayment rate of 9% on income above the threshold.

Postgraduate loans use a 6% repayment rate on income above £21,000^[source].

Interest Rates

Interest rates vary significantly between plans:

Plan 1 & 4: Lower rates based on RPI or Bank of England base rate + 1% (whichever is lower)
Plan 2: Higher variable rates from RPI to RPI + 3%, capped at 6% since 1 September 2026
Plan 5: RPI + 0% while studying, then varies with RPI
Postgraduate: Fixed at RPI + 3%, capped at 6% since 1 September 2026

Write-off Periods

Any remaining loan balance is cancelled after^[source]:

Plan 1: 25 years
Plan 2, 4 & Postgraduate: 30 years
Plan 5: 40 years

The longer write-off period for Plan 5 means more graduates will repay in full.

Calculate Your Loan Repayments

Use our suite of calculators to understand exactly how much you'll repay each month and over the lifetime of your loan.

Calculator directory How UK student loans work