Which Student Loan Plan Am I On? | Check Your Repayment Plan

Navigating student loan repayments in the UK can feel overwhelming, especially when you’re unsure which repayment plan you’re on. Your plan affects how much you repay, when repayments begin, and how long the loan lasts.

With several plans like Plan 1, 2, 4, 5 and Postgraduate Loans, it’s crucial to know where you stand. This guide will help you understand your student loan plan, check it online, and ensure you’re not paying more than necessary.

Why Does Your Student Loan Plan Matter In The UK?

Many graduates in the UK don’t realise how significantly their student loan plan can impact their monthly finances. Whether you’re just entering repayment or have been working for a while, understanding your student loan repayment plan is essential.

It affects how much interest you’re charged, how much of your salary goes toward your loan, and even when your debt could be wiped off entirely.

Student loans in the UK are not one-size-fits-all. There are different plans for different parts of the UK, and which plan you’re on depends mainly on when and where you started your course, and the type of course you studied. You cannot choose your repayment plan, and it’s possible to have more than one plan at the same time, especially if you’ve studied more than one course.

Unlike standard loans, student loan repayments are tied to your income, not to your loan amount. This means understanding your repayment plan is not just about knowing when to repay, but also how your repayments will behave as your income fluctuates over time.

Which Student Loan Plan Am I On Based On When And Where I Studied?

To determine which student loan plan you’re on, the most critical factors are the date you started your course and which UK funding body you applied through (such as Student Finance England or Student Finance Wales).

England

Wales

Scotland

Northern Ireland

Knowing this, if you’re not sure which plan you’re on, the best way to check is by logging into your student loan repayment account and downloading your “active plan type letter”.

What’s The Difference Between Plan 1, Plan 2, Plan 4, And Plan 5?

The four main undergraduate plans in the UK have different repayment thresholds, interest rates, and loan cancellation rules.

Key Comparison Table

Each plan behaves differently in terms of interest calculation. For example, Plan 5, introduced for students starting in 2023 in England, offers lower interest but extends the repayment period significantly to 40 years. Plan 1, common in Scotland and Northern Ireland, has a shorter loan lifespan but a lower threshold.

Understanding these differences helps you estimate how long your loan may last and how it could affect your take-home pay.

How Do I Check Which Student Loan Plan I’m Currently On?

To find out which student loan plan you’re on, the most reliable method is to log in to your Student Loans Company (SLC) account.

Steps to Check Your Plan

1. Visit the student loan repayment portal
2. Use your Customer Reference Number or email to log in
3. Provide your password and secret answer
4. Once signed in, download the ‘active plan type letter’
5. Share this letter with your employer to ensure accurate payroll deductions

This letter clearly states which plan you’re on. If you’re on the wrong plan at work, it could lead to overpayments, especially if your employer is using a lower repayment threshold.

Which Student Loan Plan Am I On? | Check Your Repayment Plan

If your employer has the incorrect repayment plan for you, you could be making larger repayments than required or starting repayments earlier than necessary.

This often happens when:

• You’ve changed jobs, and your employer doesn’t ask for your correct plan
• HMRC hasn’t updated your repayment status
• You’re on multiple loan plans, and payroll only uses one plan

To resolve this, first confirm your correct plan using your SLC account. If your employer is using a different one, show them your active plan letter. They can then update your payroll settings accordingly.

In many cases, you may be entitled to a refund if you’ve overpaid. SLC allows you to apply for a refund once your employer and plan type are correctly aligned.

Which Student Loan Plan Applies To Postgraduate Students In The UK?

Postgraduate students are placed on a separate repayment plan not tied to Plans 1, 2, 4, or 5. This applies to master’s and doctoral level courses.

Postgraduate Loan Details

• Threshold: £21,000 (2025/26)
• Repayment Rate: 6% of income above the threshold
• Interest: Set at RPI (Retail Price Index)
• Wipe Period: 30 years after April following the course end

Postgraduate loans are repaid alongside any undergraduate loans, meaning you could have dual deductions from your salary if you’re earning above both thresholds.

Can I Have More Than One Student Loan Plan At The Same Time?

Yes, it is entirely possible to be repaying under multiple student loan plans simultaneously. This can happen if:

• You completed an undergraduate course under Plan 2
• Then pursued a master’s with a Postgraduate Loan
• Or if you took a short course funded by a different plan (e.g. Plan 5)

If you meet the repayment thresholds for both plans, your employer will make deductions for each. It’s important to monitor your payslips and account to ensure correct deductions are being made.

For example, someone earning £35,000 with Plan 2 and a Postgraduate Loan may have 9% deducted for Plan 2 and 6% for the Postgraduate Loan.

How Do Repayment Thresholds And Interest Rates Vary Between Plans?

Understanding the repayment mechanics is crucial, especially as thresholds and interest rates change annually. Here’s a breakdown for the 2025/26 tax year.

Repayment Thresholds and Interest Summary

The interest rate is not just about what you repay now, but how fast your loan grows. Plan 5 caps interest at RPI only, which is seen as a more favourable model in 2025 compared to Plan 2’s RPI + 3%.

What If I Overpaid Due To The Wrong Plan – Can I Get A Refund?

Yes, if you’ve overpaid because you were on the wrong plan, or repaid while earning below the threshold, you’re entitled to a refund.

How To Get A Refund?

• Confirm your correct repayment plan via SLC
• Speak to your employer to stop incorrect deductions
• Contact SLC with your income details and overpayment period
• Request a refund either by phone or through social media support

It’s important to first stop further deductions before requesting a refund. Refunds are typically processed after the correction is confirmed.

Real-Life Example: How A Graduate Discovered They Were On The Wrong Plan?

Emma graduated in 2017 with an undergraduate degree in England, meaning she should have been on Plan 2. However, after starting a new job in 2024, she noticed her payslip showed deductions matching Plan 1 thresholds.

Curious, she logged into her Student Loan account and downloaded the active plan type letter, which confirmed she was indeed on Plan 2. After speaking to her HR department and showing them the letter, they corrected her payroll processing plan.

She contacted SLC and found she had overpaid over £300 in just six months. Within four weeks, she received a full refund and ensured her future deductions matched Plan 2 rates. Emma now checks her account regularly and always keeps a copy of her plan letter on file.

How To Manage Your Student Loan Online Using The SLC Portal?

The Student Loans Company (SLC) provides a dedicated portal to help manage all aspects of your loan, from checking balances to requesting refunds.

What You Can Do Online?

• Check your current loan balance
• View total repayments and interest added
• Download your Active Plan Type Letter
• Set up or adjust Direct Debits
• Print proof of plan type for your employer
• Update your contact and banking details
• Make one-off payments for yourself or others
• Apply for refunds on overpayments
• Manage repayments in foreign currency if living overseas

To access your account, you’ll need your customer reference number or registered email address, along with your password and security answer. If these are forgotten, recovery options are available online.

Conclusion

Understanding which student loan plan you’re on isn’t just a minor administrative detail. It’s a crucial financial consideration that influences your monthly budget, repayment timeline, and even future borrowing potential.

With different plans in England, Wales, Scotland, and Northern Ireland, and varying rules depending on the course and year, it’s important to stay informed.

Whether you’re on Plan 1, 2, 4, 5 or a postgraduate plan, the best step you can take is to check your plan regularly, understand your repayment terms, and ensure your employer has accurate records. If you’re ever unsure or feel you’re on the wrong plan, you can take control by logging into your SLC account and correcting the issue.

With 2025 bringing updated thresholds and changes to interest calculations, now is the right time to re-evaluate your student loan position and take proactive steps toward managing your financial future.

FAQs

How do I find out my student loan plan if I lost my login details?

You can reset your login using the email you registered with or contact SLC directly to regain access.

Can I switch from Plan 2 to Plan 5?

No, your plan is assigned based on when and where you started your course. You cannot choose or switch plans.

What happens if I move abroad?

If you’re outside the UK for more than 3 months, you must inform SLC and may need to repay in your local currency.

Will my loan ever be written off?

Yes, each plan has a cancellation policy. For example, Plan 2 loans are written off 30 years after the April following your course completion.

Do student loans affect credit scores?

Student loans do not appear on your credit report in the UK and do not affect your credit score directly.

Can I pay off my student loan early?

Yes, you can make voluntary repayments, but consider if it’s financially beneficial given loan cancellation rules.

What if I never earn above the threshold?

If your income remains below the threshold throughout your repayment term, you won’t have to repay, and your loan will be written off eventually.