Student loan repayments explained (2026/27)
Updated 9 November 2026 · Rates checked against the official sources below
You repay 9% of your income above your plan's threshold (6% for postgraduate loans), taken straight from your pay. If you earn less than the threshold, you repay nothing.
| Plan | Threshold (2026/27) | Rate |
|---|---|---|
| Plan 1 | £26,900 | 9% |
| Plan 2 | £29,385 | 9% |
| Plan 4 (Scotland) | £33,795 | 9% |
| Plan 5 | £25,000 | 9% |
| Postgraduate loan | £21,000 | 6% |
Example
On £35,000 with a Plan 2 loan you repay 9% of £5,615 (the amount over £29,385), which is £505.35 a year or about £42.11 a month.
Which plan am I on?
- Plan 1: started in England or Wales before September 2012, or in Northern Ireland.
- Plan 2: started in England or Wales between September 2012 and July 2023.
- Plan 4: Scotland.
- Plan 5: started in England from August 2023.
Your Student Loans Company online account shows your plan.
Try it with your numbers:
Sources
General information, not tax or legal advice. Rules can change; check gov.uk or ask a conveyancer, accountant or Acas before you rely on it.