Student loan plans: thresholds and rates 2026/27
Which plan you're on, what you repay and when it starts — this tax year next to last, in plain English. These are the exact figures the calculator uses, taken from official sources and dated.
Which plan am I on?
It depends on where you studied and when you started — not on where you live or work now.
| Plan | You're on it if… |
|---|---|
| Plan 1 | you started an undergraduate course in England or Wales before September 2012, or your loan is from Northern Ireland |
| Plan 2 | you started an undergraduate course in England or Wales between September 2012 and July 2023 |
| Plan 4 | your loan is from the Student Awards Agency Scotland |
| Plan 5 | you started a course in England from August 2023 |
| Postgraduate | you took a master's or doctoral loan in England or Wales — repaid on top of any undergraduate plan |
Thresholds and rates, this year vs last
You repay the plan's percentage of income above its threshold — nothing on income below it. If you hold more than one plan they stack.
| Plan | 2025/26 | 2026/27 | Change |
|---|---|---|---|
| Plan 1 — 9% of income above | £26,065 | £26,900 | £835 |
| Plan 2 — 9% of income above | £28,470 | £29,385 | £915 |
| Plan 4 (Scotland) — 9% of income above | £32,745 | £33,795 | £1,050 |
| Plan 5 — 9% of income above | £25,000 | £25,000 | frozen |
| Postgraduate — 6% of income above | £21,000 | £21,000 | frozen |
What changed this April
Plan 1, 2 and 4 thresholds track average earnings, so they usually rise each April. Plan 5 and postgraduate are frozen by policy:
- £835Plan 1 — 9% — you start repaying a little later £26,065 → £26,900.
- £915Plan 2 — 9% — you start repaying a little later £28,470 → £29,385.
- £1,050Plan 4 (Scotland) — 9% — you start repaying a little later £32,745 → £33,795.
Why a frozen threshold costs you: when the threshold stays put while pay rises, more of your income sits above the line — so Plan 5 and postgraduate borrowers repay more each year without any change to the headline rate.
How repayments are actually worked out
The bit most people have been told wrong: you never repay a percentage of your whole salary.
- ruleYou repay the plan's rate on income above the threshold only. Earn under it — even for one month — and you repay nothing that month.
- ruleEmployees repay through PAYE, next to tax and NI; the self-employed repay through Self Assessment.
- ruleIf you hold more than one plan, they stack — each is worked out separately against its own threshold and both come off your pay.
- ruleRepayments stop when the balance is cleared — or when the loan is written off at the end of its term, whichever comes first.
One plan: £35,000 on Plan 2
| Repayment, 2026/27 thresholds | Per year |
|---|---|
| Plan 2 — 9% of income above £29,385 £35,000 − £29,385 = £5,615 repayable | £505.35 |
| A year about £42 a month | £505.35 |
Taken through PAYE next to tax and NI — you never have to do anything.
Stacked plans: £45,000 on Plan 2 + a postgraduate loan
| Repayment, 2026/27 thresholds | Per year |
|---|---|
| Plan 2 — 9% of income above £29,385 £45,000 − £29,385 = £15,615 repayable | £1,405.35 |
| Postgraduate loan — 6% of income above £21,000 £45,000 − £21,000 = £24,000 repayable | £1,440.00 |
| A year about £237 a month | £2,845.35 |
The two repayments are worked out separately and both come off the same payslip.
Why this matters for a pay rise: between the thresholds, a basic-rate Plan 2 + postgraduate borrower keeps £570 of every extra £1,000 — after 20% income tax, 8% National Insurance, 9% Plan 2 and 6% postgraduate repayments. A £5,000 rise is not £5,000. Greener prices the offer you actually keep.
A loan plan changes what an offer is worth.
Greener applies your exact plan — or stacked plans — to any job offer, alongside tax, NI, pension, commute and the life side, and gives you a verdict you can audit.