Last Updated – 08-10-2026

Student loan repayments in the UK depend on how much a person earns, which repayment plan they have and when they became eligible to start repaying. For the 2026/27 tax year, the income thresholds range from £21,000 for Postgraduate Loans to £33,795 for Plan 4.

However, there are important changes graduates need to understand.

Plan 2 borrowers in Eself-employmenngland face a repayment threshold freeze until April 2030, student loan interest rates increased in September 2026, and different rules apply to people with multiple loans or income from self-employment.

We have reviewed the latest Student Loans Company guidance, GOV.UK repayment tables and government policy announcements to explain how much you need to earn before paying back your student loan, what deductions to expect from your salary and whether making additional repayments is financially worthwhile.

What Is the Minimum Income Required to Repay a Student Loan in 2026/27?

You must earn more than £26,900 annually on Plan 1, £29,385 on Plan 2, £33,795 on Plan 4, £25,000 on Plan 5 or £21,000 on a Postgraduate Loan before compulsory repayments begin.

These thresholds apply to the 2026/27 tax year, which runs from 6 April 2026 to 5 April 2027.

Student Loan Repayment Thresholds for 2026/27

Student Loan Plan	Annual Threshold	Monthly Threshold	Weekly Threshold	Repayment Rate
Plan 1	£26,900	£2,241	£517	9%
Plan 2	£29,385	£2,448	£565	9%
Plan 4	£33,795	£2,816	£649	9%
Plan 5	£25,000	£2,083	£480	9%
Postgraduate Loan	£21,000	£1,750	£403	6%

Source: GOV.UK student loan repayment thresholds, applicable in October 2026.

These figures are based on gross earnings before Income Tax and other deductions.

For example, someone earning £30,000 annually on Plan 2 would repay approximately £55 a year under the current threshold, whereas someone earning the same amount on Plan 5 would repay approximately £450.

The distinction is important because borrowers with similar salaries can have significantly different deductions depending on their repayment plan.

The amount you originally borrowed does not determine your compulsory monthly repayment.

Someone owing £5,000 and another person owing £50,000 on the same plan will normally make the same income-based repayment if their qualifying earnings are identical and both still have outstanding balances.

Which Student Loan Repayment Plan Are You On?

Before calculating repayments, graduates should identify their loan plan.

This is determined mainly by the student finance provider, course type and date the course started.

Plan	Who Normally Qualifies
Plan 1	England or Wales undergraduate borrowers who started before September 2012; borrowers from Northern Ireland
Plan 2	England undergraduate borrowers who started between September 2012 and July 2023; Welsh undergraduate borrowers who started from September 2012
Plan 4	Borrowers who applied through Student Awards Agency Scotland
Plan 5	Most England undergraduate borrowers who started from August 2023
Postgraduate Loan	Eligible master’s or doctoral loan borrowers from England and Wales

There are exceptions for particular qualifications and loan products, including Advanced Learner Loans and Higher Education Short Course Loans.

How Can You Check Your Student Loan Plan?

The quickest method is to sign in to the official student loan repayment account.

Borrowers can check their outstanding balance, repayment plan and account information.

If the plan shown by an employer differs from the plan in the Student Loans Company account, the borrower should download the active plan type letter and ask payroll to correct its records.

Plan 1: Northern Irish borrowers are also included, including those who entered the student loan system from 1998 onwards.

Plan 2: The July 2023 cut-off applies to the standard England undergraduate system, but Wales continues to use Plan 2 for relevant new undergraduate borrowers.

Plan 5: Applies to most new England undergraduate students from August 2023 and has a longer write-off period than Plan 2.

When Do You Start Repaying Your Student Loan?

Having earnings above the threshold does not necessarily mean repayments begin immediately.

For most full-time students, compulsory repayments begin no earlier than the April after they leave or complete their course, provided their earnings exceed the applicable threshold.

For example, a student who finishes university in June 2026 will normally become eligible for repayment from April 2027.

When Do Plan 5 Repayments Start?

Students who started a standard three-year undergraduate course in England in September 2023 would normally complete it in 2026.

Their earliest compulsory repayment date would therefore usually be April 2027.

Some students completing shorter courses or leaving earlier may have different repayment start dates. It is not correct to describe April 2026 as the repayment start date for every Plan 5 borrower.

What Happens if You Study Part-Time?

For qualifying part-time courses started before 1 January 2027 that last longer than four years, repayment may begin in the April four years after the course started, even if the student is still studying.

Otherwise, the usual post-course commencement rules apply. Courses starting under the arrangements introduced from January 2027 can have different conditions.

According to the government’s repayment start-date rules, the relevant income threshold must still be exceeded before ordinary compulsory payments are collected.

What Happens if You Stop Working?

PAYE deductions normally stop when earnings fall below the relevant weekly or monthly threshold.

However, interest may continue to accumulate on the outstanding balance, and separate obligations can apply to loan or grant overpayments and overseas arrears.

How Much Student Loan Will You Repay Based on Your Salary?

Most undergraduate borrowers repay 9% of earnings above their plan’s repayment threshold.

Postgraduate borrowers repay 6% above the postgraduate threshold.

The calculation is:

Annual repayment = (Annual qualifying income − Annual repayment threshold) × Repayment percentage

If earnings are below the threshold, the compulsory repayment is zero.

Student Loan Repayment by Salary and Plan

Annual Salary	Plan 1	Plan 2	Plan 4	Plan 5	Postgraduate
£30,000	£279	£55	£0	£450	£540
£40,000	£1,179	£955	£558	£1,350	£1,140
£50,000	£2,079	£1,855	£1,458	£2,250	£1,740

These are illustrative annual figures using the 2026/27 thresholds, rounded down to whole pounds. Actual PAYE deductions are calculated using the relevant pay period and may differ from annualised estimates.

The table highlights how repayment plans affect take-home pay.

At £40,000 annually, a Plan 5 borrower faces approximately £1,350 in compulsory student loan repayments, compared with £955 for Plan 2 and £558 for Plan 4.

Example 1: Sarah Earns £2,750 Monthly on Plan 1

Sarah works as a marketing executive in Birmingham and earns £33,000 annually.

Her monthly gross earnings are £2,750.

• Monthly Plan 1 threshold: £2,241
• Earnings above threshold: £509
• Repayment rate: 9%
• Monthly repayment: £45

This follows GOV.UK’s monthly calculation and payroll rounding approach.

Example 2: Daniel Earns £2,500 Monthly on Plan 2

Daniel works as a software developer in Manchester.

His monthly earnings are £2,500, and his Plan 2 threshold is £2,448.

• Earnings above threshold: £52
• Repayment rate: 9%
• Monthly repayment: £4

Although Daniel earns £30,000 annually, his student loan deduction remains relatively small because his earnings are only slightly above the Plan 2 threshold.

Example 3: Ayesha Earns £3,000 Monthly on Plan 4

Ayesha is a nurse in Scotland earning £36,000 annually.

• Monthly Plan 4 threshold: £2,816
• Earnings above threshold: £184
• Repayment rate: 9%
• Monthly repayment: £16

The higher Plan 4 repayment threshold means Ayesha repays less than someone with the same earnings on Plan 1, Plan 2 or Plan 5.

Example 4: Emily Earns £35,000 Annually on Plan 2

Emily is a self-employed graphic designer.

Her annual qualifying income is £35,000.

• Annual threshold: £29,385
• Income above threshold: £5,615
• Repayment rate: 9%
• Approximate annual repayment: £505

Emily’s repayments are normally calculated through Self Assessment rather than monthly employer deductions.

This amount assumes her qualifying income is £35,000 and that no PAYE student loan deductions have already been made.

How Can You Calculate Your Student Loan Repayment Online?

An interactive calculator can help graduates estimate their compulsory repayments without manually checking several threshold tables.

 

Calculator caption: Estimate your student loan repayment using the 2026/27 UK thresholds. Select your repayment plan and enter your gross salary to calculate approximate annual and monthly deductions.

The calculator should allow users to choose between Plan 1, Plan 2, Plan 4, Plan 5 and Postgraduate Loans.

Actual repayments may vary because PAYE uses weekly or monthly income rather than simply dividing annual earnings equally.

What Does the Plan 2 Student Loan Threshold Freeze Until 2030 Mean?

One of the most significant student loan developments affecting English graduates is the government's decision to freeze the Plan 2 repayment threshold.

The Plan 2 annual threshold increased to £29,385 on 6 April 2026.

However, for borrowers covered by the English policy, that threshold is scheduled to remain frozen throughout:

• 2027/28
• 2028/29
• 2029/30

Annual inflation-linked increases are scheduled to resume from April 2030.

The government's policy also freezes the corresponding Plan 2 interest-income thresholds over this period.

How Could the Freeze Affect Your Salary?

Ordinarily, increasing repayment thresholds can help protect some of a graduate's pay rise from additional student loan deductions.

When the repayment threshold is frozen, more of any increase in earnings becomes subject to the 9% repayment rate.

Consider a Plan 2 graduate whose salary increases from £30,000 to £31,000.

Scenario	Annual Repayment
£30,000 salary at the existing threshold	£55
£31,000 salary with the threshold frozen at £29,385	£145
£31,000 salary if the threshold hypothetically increased by 3%	£66

Figures rounded to whole pounds. The 3% increase is hypothetical, not a government forecast.

The example shows that a frozen threshold can increase repayments even without an increase in the repayment percentage.

For borrowers whose salaries remain unchanged, the freeze does not itself create a higher repayment.

Does the Plan 2 Freeze Apply to Wales?

The Welsh Government has said that it will not adopt the equivalent Plan 2 repayment threshold freeze for Welsh borrowers.

This means English and Welsh borrowers could face different future repayment thresholds despite both being on Plan 2.

Borrowers should therefore check announcements from their relevant student finance administration rather than assuming the English freeze applies throughout the UK.

It is also important not to confuse the Plan 2 freeze with other plans.

For example, the Plan 1 repayment threshold is scheduled to rise to £28,005 from April 2027. Plan 5's £25,000 threshold is also currently intended to increase with inflation from April 2027.

What Happens if You Have More Than One Student Loan?

Some graduates have more than one student loan plan.

This is particularly common among people who completed an undergraduate degree and later took out a postgraduate loan.

However, repayment calculations depend on whether the loans are both undergraduate plans or include a Postgraduate Loan.

Two Undergraduate Repayment Plans

Someone with Plan 1 and Plan 2 loans does not ordinarily pay 9% twice.

Instead, they pay 9% of qualifying earnings above the lowest undergraduate repayment threshold.

The resulting repayment is then allocated between the loan plans using the Student Loans Company's repayment allocation rules.

For example, a graduate has:

• Plan 1 threshold: £2,241 monthly
• Plan 2 threshold: £2,448 monthly
• Gross monthly income: £3,200

Their combined undergraduate repayment is approximately £86 monthly.

The difference between the two thresholds is £207.

Applying 9% gives a Plan 1 allocation cap of approximately £18 for that month, with the remaining £68 allocated to Plan 2.

This means the graduate still makes one undergraduate repayment, even though the deduction is divided between the two outstanding loans.

If their earnings were above the Plan 1 threshold but below the Plan 2 threshold, the undergraduate repayment would go towards Plan 1.

Plan 2 and Postgraduate Loan Repayments

Postgraduate Loan repayments operate separately from undergraduate deductions.

Where both thresholds have been exceeded, the graduate may pay:

• 9% above the relevant undergraduate threshold
• An additional 6% above the Postgraduate Loan threshold

Example: James earns £2,400 monthly.

James has both a Plan 2 loan and a Postgraduate Loan.

His earnings exceed the £1,750 postgraduate monthly threshold but remain below the £2,448 Plan 2 threshold.

His deductions are therefore:

Loan	Monthly Repayment
Plan 2	£0
Postgraduate	£39
Total	£39

Once James starts earning above the Plan 2 threshold, his undergraduate deductions will begin alongside his postgraduate repayments.

How Does Employment Type Affect Student Loan Repayments?

Employment status changes how student loan repayments are collected, although the underlying repayment percentages remain the same.

If You Are Employed Through PAYE

For employees, student loan repayments are normally deducted automatically through payroll alongside Income Tax and National Insurance.

The employer uses the relevant repayment plan and the employee's earnings for that pay period.

Overtime, commissions and bonuses can therefore produce a larger student loan deduction in a particular week or month.

If You Are Self-Employed

Self-employed borrowers generally repay through Self Assessment.

HMRC calculates the repayment using qualifying annual income, applying the relevant annual repayment threshold.

If a borrower already made student loan repayments through employment during the tax year, those amounts are taken into account to avoid collecting them twice.

If You Are Employed and Self-Employed

Consider an individual with Plan 1 borrowing who earns:

• £32,000 from self-employment
• £10,000 from employment
• Combined qualifying income: £42,000

The annual calculation is:

£42,000 − £26,900 = £15,100

9% of £15,100 = £1,359 annually

Any eligible student loan repayments already deducted through PAYE are credited against the Self Assessment liability.

What if You Have Two Part-Time Jobs?

Under PAYE, student loan deductions are generally calculated separately for each employment.

For example, Tom works two jobs:

• First job: £1,200 monthly
• Second job: £1,000 monthly

Tom has Plan 1 borrowing.

Neither job individually exceeds the £2,241 monthly repayment threshold, so no student loan deduction would ordinarily be collected through those payslips.

However, if Tom completes Self Assessment, his overall income and applicable student loan rules may produce a different annual position.

Do Pensions, Dividends and Savings Interest Count?

Income from pensions and investments can affect student loan repayments where it falls within the relevant Self Assessment rules.

HMRC's guidance states that unearned income, such as qualifying savings interest and dividends, is considered where:

1. The borrower receives a Self Assessment tax return.
2. The relevant unearned income exceeds £2,000 annually.

Where that £2,000 condition is met, the full amount of qualifying unearned income can be included, not merely the amount above £2,000.

Income from workplace pensions, personal pensions and the State Pension can also enter relevant annual Self Assessment calculations.

The treatment depends on the nature of the income and the borrower's tax circumstances.

How Much of a Pay Rise Can Student Loan Repayments Take?

Student loan deductions increase the effective marginal deduction rate on earnings above the repayment threshold.

For an employee in England who pays basic-rate Income Tax and standard Class 1 National Insurance, an additional £100 of gross earnings may be subject to:

Deduction	Amount on Additional £100
Income Tax at 20%	£20
Employee National Insurance at 8%	£8
Undergraduate student loan at 9%	£9
Total	£37

This produces a combined marginal deduction rate of approximately 37%, leaving £63 from the additional £100 before any other applicable deductions.

An employee with both undergraduate and postgraduate repayment obligations could face an additional 6% postgraduate deduction, potentially taking the combined rate to approximately 43%.

These examples apply only where all the relevant thresholds and tax bands overlap.

Scottish Income Tax bands, higher-rate taxation, pension arrangements and other deductions can create different outcomes.

Student loan repayments are not technically Income Tax, but they can reduce take-home pay in a similar way.

What Are the Current Student Loan Interest Rates in 2026/27?

Student loan interest rates changed on 1 September 2026.

The current applicable Retail Prices Index inflation measure is 4.1%, based on March 2026 inflation.

However, the actual interest charged depends on the loan plan.

Loan Plan	Interest Rate in October 2026
Plan 1	4.1%
Plan 2	4.1% to 6%
Plan 4	4.1%
Plan 5	4.1%
Postgraduate Loan	6%

Source: Student Loans Company interest rate announcement. Rates can change during the year.

How Is Plan 1 Interest Calculated?

Plan 1 interest is determined using the lower of:

• Retail Prices Index inflation
• Bank of England base rate plus 1 percentage point

The applicable rate in October 2026 is 4.1%.

If Bank Rate changes sufficiently, the Plan 1 interest rate can also change during the academic year.

Plan 4 uses a similar lower-of-two-rates mechanism, while Plan 5 generally uses RPI inflation without the additional 3% charged under the standard Plan 2 formula.

How Does Plan 2 Interest Work?

Plan 2 borrowers can pay different interest rates depending on their circumstances.

While studying, the normal formula is RPI plus 3%.

After leaving the course, the interest rate generally becomes linked to annual income from the following April.

For the 2026/27 academic year, the government has introduced a maximum rate of 6%.

Annual Income	Current Plan 2 Interest
£29,385 or less	4.1%
£29,386 to £52,884	Gradually increases from 4.1% towards 6%
£52,885 or more	6%

The standard RPI-plus-3% formula would otherwise produce 7.1%, but the temporary cap limits the charge to 6%.

Does Interest Affect Monthly Repayments?

Interest affects the outstanding loan balance but does not directly change the compulsory repayment percentage.

For example, a Plan 2 graduate earning £35,000 annually will have the same income-based repayment calculation whether their outstanding balance is £15,000 or £45,000.

However, interest determines how quickly the outstanding balance increases or decreases.

If annual interest added to the loan exceeds annual repayments, the balance can grow even while the borrower makes regular deductions.

This is one reason why the write-off period matters when deciding whether to repay early.

When Does a Student Loan Get Written Off?

UK income-contingent student loans are generally cancelled after a specified repayment period if an outstanding balance remains.

The time limit depends on the loan plan and, for some older plans, the date the first loan was paid.

Student Loan Write-Off Periods

Loan Plan	Normal Write-Off Rule
Plan 1, first loan before 1 September 2006	At age 65
Plan 1, first loan on or after 1 September 2006	25 years after the April first due to repay
Plan 2	30 years after the April first due to repay
Plan 4, first loan before 1 August 2007	Age 65 or 30 years after first due to repay, whichever comes first
Plan 4, first loan on or after 1 August 2007	30 years after the April first due to repay
Plan 5	40 years after the April first due to repay
Postgraduate Loan, England and Wales	30 years after the April first due to repay

For example, a Plan 2 borrower who first became due to make repayments in April 2020 would normally reach the write-off point in April 2050.

A Plan 5 borrower whose repayment period begins in April 2027 would normally reach the write-off point in April 2067.

These dates assume the standard cancellation conditions apply.

The differences between plans and older borrowing arrangements are particularly important when checking the student loan write-off rules before making financial decisions.

What Happens if a Borrower Dies?

The Student Loans Company can cancel the outstanding student loan when the borrower dies.

An authorised representative will normally need to notify SLC and provide the required evidence.

The student loan is not ordinarily inherited by family members.

What if Someone Becomes Permanently Unfit for Work?

Student loan cancellation may be available where an individual is permanently unable to work because of illness or disability and satisfies the relevant evidence and qualifying benefit requirements.

Cancellation is not automatic simply because someone stops working or receives any disability-related benefit.

Are Student Loans Written Off by Bankruptcy?

UK government income-contingent student loans are generally excluded from bankruptcy, Debt Relief Orders and Individual Voluntary Arrangements.

Borrowers should not assume that entering an insolvency process will cancel their student loan balance.

The normal repayment and statutory cancellation rules continue to matter.

What Happens to Your Student Loan if You Move Abroad?

Moving overseas does not automatically end a UK student loan repayment obligation.

Borrowers planning to leave the UK for more than three months must inform the Student Loans Company and update their employment details.

The overseas repayment process differs from PAYE because the borrower normally makes payments directly to SLC.

How Are Overseas Repayments Calculated?

SLC uses country-specific repayment thresholds and applicable exchange rates to assess overseas earnings.

The same broad repayment percentages apply:

• 9% above the relevant undergraduate repayment threshold
• 6% above the postgraduate repayment threshold

However, the overseas threshold can be higher or lower than the UK equivalent.

Graduates can check the relevant 2026/27 overseas repayment thresholds for their plan and country of residence.

What Documents Must You Provide?

Borrowers may need to provide:

• Evidence of employment or self-employment
• Recent payslips or income statements
• Bank statements or other evidence of financial support
• Updated contact and overseas address details

SLC normally requires an updated assessment of overseas income each year.

This applies even where earnings are below the overseas repayment threshold.

What Happens if You Do Not Tell SLC?

Failure to provide the required information can result in a fixed monthly repayment being applied.

The amount depends on the relevant country and student loan plan and may exceed what would otherwise be payable based on actual earnings.

The consequences can include:

• Repayment arrears
• Debt recovery activity
• Additional recovery costs where applicable
• Legal enforcement
• In serious cases, a demand for the outstanding loan balance under the applicable terms

MoneySavingExpert also notes that penalties can involve calculations based on twice the average earnings in the country concerned.

It is therefore important to contact SLC before leaving the UK and maintain the required income reporting afterwards.

Should You Pay Off Your Student Loan Early?

Making voluntary repayments can reduce the outstanding balance and, in some circumstances, reduce total interest costs.

However, repaying early is not always financially beneficial.

The best decision depends on expected lifetime earnings, the amount outstanding, the remaining repayment period and alternative uses for the money.

When Might Early Repayment Make Sense?

Additional repayments may be worth considering when someone:

• Is likely to repay the entire loan before its scheduled write-off
• Has sufficient emergency savings
• Has no higher-interest debt requiring priority
• Can afford to make payments without compromising essential financial goals
• Expects interest savings to outweigh the value of keeping the money elsewhere

For example, a high-earning graduate with a relatively small outstanding balance may benefit more from clearing the loan early than a borrower with a large balance who is unlikely to repay it before the write-off date.

When Might It Be Better Not to Overpay?

Early repayment may be less attractive where the borrower expects a substantial balance to be cancelled eventually.

Other reasons to preserve savings include:

• Building an emergency fund
• Saving for a mortgage deposit
• Paying off expensive credit card or personal loan debt
• Preparing for a career break
• Covering future childcare or household costs

A key consideration is that voluntary student loan repayments normally cannot be refunded.

Someone who overpays and later experiences a reduction in income cannot simply withdraw that payment.

Should You Save or Reduce Your Student Loan Balance?

The financial comparison should consider the interest rate on the student loan against the return available on savings after relevant taxes.

However, the comparison is more complicated than simply choosing the higher percentage.

If part of the student loan would eventually be written off, interest added to that balance may not translate into an equivalent amount the borrower must repay.

Liquidity also matters. Money held in savings remains available for unexpected costs, while voluntary loan repayments cannot normally be accessed again.

What Should You Do When Your Student Loan Is Nearly Paid Off?

Graduates approaching their final repayments should regularly check their Student Loans Company account.

SLC can arrange for eligible borrowers to move from PAYE deductions to Direct Debit payments towards the end of their repayment period.

This helps prevent employers from continuing to deduct money after the loan has been cleared.

Borrowers who believe their balance will be cleared within the next two years should review their position and contact SLC about the final repayment arrangements. SLC normally contacts eligible borrowers during the final year.

Can You Get a Refund for Student Loan Overpayments?

Yes. Refunds can be available where a borrower has repaid more than required.

However, eligibility depends on why the overpayment occurred.

According to the official student loan refund rules, refunds may be available where:

• Total annual income was below the relevant annual repayment threshold
• Repayments started before the borrower became eligible to repay
• The employer used the wrong student loan plan
• Deductions continued after the outstanding balance was fully repaid

Example: A Bonus Triggers a Student Loan Deduction

Consider an employee earning below their annual student loan repayment threshold.

A one-off bonus could push their earnings above the monthly PAYE threshold, causing the employer to deduct a student loan repayment that month.

If total income for the completed tax year remains below the relevant annual threshold, the borrower may be able to reclaim the eligible deduction.

SLC generally requires HMRC's confirmed annual earnings information before processing this type of refund.

The refund rules should not be confused with a separate student finance grant or loan overpayment, where a student received more financial support than they were entitled to.

How Can You Check Student Loan Deductions on a Payslip?

A payslip will normally include a student loan deduction entry, potentially labelled Student Loan, SL or Postgraduate Loan/PGL.

The exact presentation varies between payroll systems.

Employees should check:

1. Their gross earnings for the pay period
2. The student loan deduction shown
3. Their actual student loan repayment plan
4. Whether the relevant income threshold was exceeded
5. Whether the amount deducted is consistent with the correct repayment rules

[SCREENSHOT]

Caption: Example payslip showing a student loan deduction alongside Income Tax and National Insurance. Check the plan recorded by payroll against the active repayment plan shown in the Student Loans Company account.

If the wrong plan has been applied, borrowers should request their active plan type letter and provide it to their employer.

They can then contact SLC if a refund is necessary.

What if Repayments Continue After the Loan Is Cleared?

There can be a delay before payroll stops collecting student loan deductions.

SLC advises that it may take around four weeks for the relevant instruction to reach the employer and deductions to stop.

Borrowers who have paid more than their outstanding balance may receive an automatic refund or be asked to confirm their details.

Checking the balance regularly and moving to Direct Debit when eligible can help avoid this situation.

Frequently Asked Questions

Do I Have to Repay My Student Loan if I Work Part-Time?

Only when your qualifying earnings exceed the relevant threshold and your repayment start date has been reached. PAYE calculations normally use the weekly or monthly threshold for each employment.

How Much Student Loan Do I Pay on £30,000 a Year?

For 2026/27, approximate annual repayments are £279 on Plan 1, £55 on Plan 2, £0 on Plan 4, £450 on Plan 5 and £540 on a Postgraduate Loan.

What Happens if I Have Two Student Loan Plans?

Multiple undergraduate plans normally produce one 9% repayment calculated using the lowest applicable threshold. An additional Postgraduate Loan can create a separate 6% deduction.

Does My Student Loan Affect My Credit Score?

Standard income-contingent student loans do not normally appear on credit reports. However, student loan deductions may affect a mortgage lender's assessment of disposable income and affordability.

Can I Stop Paying My Student Loan During Maternity Leave?

If your qualifying earnings fall below the relevant repayment threshold, ordinary PAYE deductions normally stop. Interest may continue, and a separate overseas repayment or arrears arrangement requires individual attention.

Does My Student Loan Affect My Pension?

Student loan repayments do not directly reduce pension entitlement. Certain pension contributions can affect earnings used for student loan calculations, while taxable pension income can be relevant through Self Assessment.

Can I Change My Student Loan Repayment Plan?

Generally, no. Your plan is assigned based on your student finance arrangements and course circumstances. You can correct an incorrectly recorded plan, but you cannot simply choose one with a higher repayment threshold.

Can I Get a Refund if I Repay Below the Annual Threshold?

Potentially, yes. If deductions were taken during the year but total annual earnings were below the relevant threshold, you may qualify for a refund once the tax year has ended and HMRC has confirmed your annual income.

What Happens if I Move Abroad and Earn Less Than the Threshold?

You must still report your overseas circumstances and provide the required income evidence. SLC can assess whether repayments are due using the threshold applicable to your country of residence.