Plan 4 Student Loan Calculator
For Scottish domiciled students — highest repayment threshold in the UK
Plan 4 Calculator
Scottish student loans with the highest threshold and capped interest
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£10k£150k
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Enter your loan balance to see your forecast
Using Plan 4 defaults — Threshold: £32,745/yr, Interest: 3.2%, Repayment: 9%, Write-off: 30 years
How Plan 4 Repayments Work
🏴 Plan 4 has the highest repayment threshold of any UK student loan plan, you keep more of your earnings before repayments begin.
Repayment Threshold
£32,745/year
Highest threshold in the UK
Interest Rate
3.2%
Lower of RPI or Bank of England base rate + 1%
- Who this applies to: Students who applied for student finance through SAAS (Student Awards Agency Scotland)
- Repayment rate: 9% of earnings above the threshold
- Write-off: The remaining balance is written off after 30 years from when you became eligible to repay
- Example: If you earn £40,000/year, your monthly repayment would be approximately £55
- Scottish degrees: Typically 4 years (this calculator uses 4-year default)
How does Plan 4 compare?
| Plan | Threshold | Interest | Write-off |
|---|---|---|---|
| Plan 4 (Scotland) | £32,745 | 3.2% | 30 years |
| Plan 2 (England/Wales) | £28,470 | 6.2% | 30 years |
| Plan 5 (2023+) | £25,000 | 3.2% | 40 years |