2026/27 repayment thresholds
| Plan | Threshold (a year) | Rate | Written off after |
|---|---|---|---|
| Plan 1 | £26,900 | 9% | 25 years* |
| Plan 2 | £29,385 | 9% | 30 years* |
| Plan 4 (Scotland) | £33,795 | 9% | 30 years* |
| Plan 5 | £25,000 | 9% | 40 years* |
| Postgraduate Loan | £21,000 | 6% | 30 years* |
*Write-off timings vary by when and where you took out the loan. Some older Plan 1 loans are written off at age 65. Check yours with the Student Loans Company.
Should you pay off your student loan early?
For many graduates, especially on Plans 2 and 5, the loan works more like a graduate tax: if your earnings won’t clear the balance before it’s written off, extra payments may just reduce the amount written off. Early repayment makes more sense if the calculator shows you’ll clear the loan anyway, because then you save interest.
Which plan am I on?
- Plan 1: students from England or Wales who started before September 2012, and students from Northern Ireland.
- Plan 2: students from England or Wales who started between September 2012 and July 2023.
- Plan 4: students from Scotland.
- Plan 5: students from England who started on or after 1 August 2023.