Reading the table
On £40,000: Plan 5 takes the most (£1,350) because its threshold is lowest; Plan 4 the least (£558.45) because Scotland's threshold is highest. None of these depend on your balance — a £30,000 loan and a £60,000 loan repay identically at the same salary; only the finishing date differs.
Frequently asked questions
How much do I repay on Plan 2?
9% of what you earn over £29,385 a year (2026–27). On a £40,000 salary that's £955.35 a year — about £18.37 a week — taken through PAYE before you see your pay.
Can I have two loans at once?
Yes — a postgraduate loan stacks on top of an undergraduate plan: 6% over £21,000 plus 9% over your plan threshold. On £40,000 with Plan 2 + postgraduate, deductions total £2,095.35 a year.
Which plan am I on?
Plan 1: started before Sept 2012 (England/Wales) or in Scotland/NI before 1998 loans changed. Plan 2: England/Wales Sept 2012–July 2023. Plan 4: Scotland from 1998. Plan 5: England from Aug 2023. Postgraduate: master's/PhD loans. Your payslip or the Student Loans Company can confirm.
Do repayments depend on my loan balance?
No — repayments are purely income-based: 9% (or 6%) above the threshold regardless of what you owe. The balance only decides how long repayments last (and loans are eventually written off — 25 to 40 years depending on plan).
Rates checked against official sources on 1 November 2026: GOV.UK special rules for student loans (employer guidance). See how we calculate (UK) for the full method.