Plan 4 student loan
Undergraduate or postgraduate loans funded by the Student Awards Agency Scotland.
Figures as of .
9% of everything you earn above £33,795 a year. These are annual estimates; monthly equivalents divide the annual amount by twelve.
| Salary | Monthly equivalent | A year |
|---|---|---|
| £30,000 | £0 | £0 |
| £45,000 | £84 | £1,008 |
| £60,000 | £197 | £2,358 |
Interest does not change these figures. It changes how long you repay for, up to the write-off 30 years after the April you were first due to repay (or, if your first loan payment was before 1 August 2007, age 65 or 30 years - whichever comes first).
Do I repay while studying?
Usually repayments start the April after leaving. For part-time courses longer than four years that started before January 2027, repayment can start in the April four years after the course began. Income must exceed the applicable threshold.
What if I earn under £33,795?
Deductions stop when pay is below the threshold for that pay period. A bonus can trigger a deduction even if your annual income is below the yearly threshold; you can request a refund after the tax year ends.
Does the interest rate change my monthly repayment?
Required repayments use 9% of earnings above the threshold for your pay period. The annual threshold is £33,795. Interest affects the balance and how long you repay, rather than this income-based rate.
Is Plan 4 the same as Plan 1?
Same interest rule and 9% rate, but a higher threshold of £33,795 and a write-off 30 years after the April you were first due to repay (or, if your first loan payment was before 1 August 2007, age 65 or 30 years - whichever comes first).
Sources: Plan eligibility · Repayment timing · Repayment amounts
About these estimates
Estimates, not financial advice. Check the assumptions and sources on this page before making a decision.
Limitations
Results may be inaccurate and government policy can change. Do your own research. You use this information at your own risk; we cannot accept liability if things go wrong.