Plan 4 essentials
- Repayment threshold for 2026-27: £33,795 per year (£2,816/month)
- Repayment rate: 9% of income above the threshold
- Interest rate: lower of RPI or Bank of England base rate + 1% — currently 3.2%
- Loan written off 30 years after the April you became liable to repay
- Scottish maintenance loans tend to be smaller than English fee+maintenance loans, so balances are typically lower
Who is on Plan 4? Plan 4 applies to anyone who took out a student loan in Scotland from 1998 onwards. EU students who studied in Scotland are also typically on Plan 4. Older Scottish loans (pre-1998) may follow different mortgage-style rules.
Not sure? Check your account at gov.uk.
Frequently asked questions
I studied in Scotland but I'm English — what plan am I on?
It depends on where you took the loan from. If your loan came from the Student Awards Agency for Scotland (SAAS), you're on Plan 4 regardless of nationality. If it came from Student Finance England, you're on Plan 2 or Plan 5.
Do I really repay nothing on £30k as a Scottish graduate?
Correct. The Plan 4 threshold of £33,795 means a Scottish graduate earning £30,000 pays £0 toward their student loan, while their English Plan 2 counterpart on the same salary would pay £4.61 per month.