Student Loan
Student loan repayment calculator — Plan 1, 2, 4 (Scotland) and 5.
Repayment a month
£47
£558 a year.
- Plan 4 (Scotland)
- £47/mo
- Threshold £33,795
- Plan 1
- £98/mo
- Threshold £26,900
- Plan 2
- £80/mo
- Threshold £29,385
- Plan 5
- £113/mo
- Threshold £25,000
Monthly repayment under each plan
Same income, every undergraduate plan — Plan 4 has the highest threshold.
- Plan 4 (Scotland)£47
- Plan 1£98
- Plan 2£80
- Plan 5£113
Rates and rules from Repaying your student loan: what you pay (Student Loans Company).
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Ask an accountantQuestions
Frequently asked
questions.
What is Plan 4?
Plan 4 is the repayment plan for student loans from the Student Awards Agency Scotland (SAAS). It has the highest repayment threshold of any plan, so Scottish graduates start repaying at a higher salary.
Do I repay through Self Assessment?
If you are self-employed or have income outside PAYE, student loan repayments are calculated on your Self Assessment return and paid with the balancing payment. They are never included in payments on account.
Is the loan written off?
Yes, after a set period that depends on the plan — for Plan 4 it is 30 years after you were first due to repay, or when you reach 65 for older loans. Many borrowers never repay the full balance.
Do I repay two plans at once?
If you have a Postgraduate Loan as well as an undergraduate loan you repay both: 6% above the postgraduate threshold and 9% above your undergraduate plan threshold.
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