STUDENT LOAN
Which student loan plan am I on?
There are five UK student loan plans, each with a different threshold and rate. Identifying yours wrong is the most common reason payslip deductions look off.
Educational estimates only. Not tax, legal, financial, payroll or employment advice. Verify with your employer's payroll team or HMRC.
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Common questions
How do I find out which plan I am on?
The easiest check is your loan agreement letter from the Student Loans Company. It states the plan explicitly. Failing that, log in to your account at studentloanrepayment.co.uk - the dashboard shows your plan. Your payslip will also show the plan number on the deduction line.
Plan 1 or Plan 2?
Plan 1 is for English/Welsh students who started undergraduate courses before 1 September 2012, and for Northern Irish students whenever they started. Plan 2 is for English/Welsh students who started between 2012 and 2023. Plan 4 is for Scottish students. Plan 5 is for English students who started in 2023 or later.
I have two loans. Do I pay both?
Yes. The most common combination is Plan 2 (undergraduate) plus a Postgraduate Loan, deducted simultaneously: 9 percent above the Plan 2 threshold and 6 percent above the PGL threshold. Both lines appear on your payslip.
What if my employer is using the wrong plan?
Tell payroll. They will need a copy of your loan paperwork or you can ask the Student Loans Company to confirm directly. Overpayments due to the wrong plan are refunded by SLC after year-end reconciliation.
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Open the toolPayslipIQ 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.