UK Payroll Software
Plan 5 Student Loan Repayments
Elena Segura
Cofounder
Aug 11, 2025
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Plan 5 Student Loan Repayments
Plan 5 is a new student loan repayment plan for students starting courses from August 2023 onwards. It has a lower repayment threshold and a longer repayment period than existing plans.
Key Points:
Operation: Collected in the same way as Plans 1, 2, and 4.
First PAYE Repayments: Start from 6 April 2026.
Repayment Rate: 9% of earnings above £25,000/year (before Class 1 NICs).
Employer Notifications: SL1 notices will be sent in March 2026 for borrowers due to start repayments in April 2026.
Plan Rules:
Only one plan type can be deducted at a time (Plan 1, 2, 4, or from April 2026, Plan 5).
Postgraduate loans (Plan 3) can be deducted at the same time as any student loan plan (including Plan 5).
Default Plan: From 2026/27, Plan 5 will be the default plan type for new borrowers until a start notice confirms otherwise.
Key Details Table
Detail | Plan 5 Information |
|---|---|
Who it applies to | Students starting courses from August 2023 onwards |
First repayment date (PAYE) | 6 April 2026 |
Repayment rate | 9% of earnings above £25,000/year |
Threshold calculation | Before deductions for Class 1 NICs |
Employer SL1 notices | Issued in March 2026 |
Plan deduction rules | Only one student loan plan at a time; can combine with postgraduate loan (Plan 3) |
Default from 2026/27 | Plan 5 will be default until plan type confirmed |
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