Ask PayslipIQ · Last reviewed 2026-05-08
Am I on the right student loan plan?
Plans are determined by when and where you started study. Plan 1 (most pre-2012 England, Northern Ireland), Plan 2 (post-2012 England), Plan 4 (Scotland), Plan 5 (post-2023 England), Postgraduate (master's, PhD). Check your repayment portal at gov.uk/repaying-your-student-loan to confirm which plan applies.
PayslipIQ provides educational information and estimated calculations only. It does not provide tax, legal, financial, payroll, accounting, pension, benefits or employment advice. Always verify your payslip, tax code, deductions and take-home pay with your employer's payroll department, HMRC, your pension provider, a qualified accountant, tax adviser or another appropriately qualified professional.
Being on the wrong plan changes your repayment threshold. Plan 5, for example, has a much lower threshold than Plan 2, so a student on Plan 2 incorrectly placed on Plan 5 will overpay materially across the year.
If you have more than one loan (for example an undergraduate Plan 2 and a Postgraduate loan), both deductions appear separately on your payslip.
If your employer has not been told which plan you are on, they will normally apply Plan 1 by default. That can be wrong. Confirm directly with the Student Loans Company through your gov.uk account.
Related
Reviewed by PayslipIQ Editorial. Sources cited where applicable.
PayslipIQ provides educational information and estimated calculations only. It does not provide tax, legal, financial, payroll, accounting, pension, benefits or employment advice. Always verify your payslip, tax code, deductions and take-home pay with your employer's payroll department, HMRC, your pension provider, a qualified accountant, tax adviser or another appropriately qualified professional.