UK Student Loan Plans Explained
The UK has five student loan plans, and which one you are on decides your repayment threshold, interest rate and write-off date. Compare Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan below, then open a plan for the full detail. Whatever your plan, it is middle earners who repay the most.
All UK student loan plans compared
Every plan’s repayment threshold, rate, interest and write-off period at a glance. Figures update automatically from GOV.UK and the Bank of England.
| Plan | Who & when | Threshold | Rate | Interest | Write-off |
|---|---|---|---|---|---|
| Plan 1 | England, Wales & N. IrelandPre-2012 (all years for NI) | £26,892 | 9% | Lower of RPI or base rate + 1%3.2% now | 25 yrs |
| Plan 2 | England & Wales2012-2023 | £29,376 | 9% | RPI to RPI + 3% (income-based)3.2%–6.2% now | 30 yrs |
| Plan 4 | ScotlandAll years | £33,792 | 9% | Lower of RPI or base rate + 1%3.2% now | 30 yrs |
| Plan 5 | England2023+ | £24,996 | 9% | RPI only3.2% now | 40 yrs |
| Postgraduate Loan | UK-wideAll years | £21,000 | 6% | RPI + 3%6.2% now | 30 yrs |
Explore each plan
Plan 1
England, Wales & N. Ireland · Pre-2012 (all years for NI)
- Threshold
- £26,892/yr
- Rate
- 9%
- Write-off
- 25 years
Plan 2
England & Wales · 2012-2023
- Threshold
- £29,376/yr
- Rate
- 9%
- Write-off
- 30 years
Plan 4
Scotland · All years
- Threshold
- £33,792/yr
- Rate
- 9%
- Write-off
- 30 years
Plan 5
England · 2023+
- Threshold
- £24,996/yr
- Rate
- 9%
- Write-off
- 40 years
Postgraduate Loan
UK-wide · All years
- Threshold
- £21,000/yr
- Rate
- 6%
- Write-off
- 30 years
Which plan am I on?
You cannot choose your plan — it is set by when and where you started studying. English students who began before September 2012 are on Plan 1; those who started between 2012 and 2023 are on Plan 2; and those from September 2023 are on Plan 5. Scottish students are on Plan 4, and Northern Irish students are on Plan 1. A Postgraduate Loan sits on top of any of these.
Not sure? Take the 3-question which plan quiz to find out in under a minute.
Why middle earners repay the most
Whichever plan you are on, the total you repay follows the same shape. Low earners repay little and reach the write-off with a balance forgiven. High earners clear the loan quickly, before much interest builds. It is the middle — graduates earning enough to make real repayments, but not enough to outrun the interest — who repay the most, often far more than they borrowed.
That is the whole reason this site exists. Put your salary into the student loan repayment calculator to see where you fall on the curve for your plan.