Plan 5 Student Loans

A new Plan 5 Student loan is being introduced for those starting an undergraduate or postgraduate course after 1 August 2023. Repayments for Plan 5 loans will be 9% over a £25,000 earnings threshold.

The changes mark the biggest shift in student finance for a decade. Martin Lewis (MSE) has compiled a very useful guide to student loans, which is worth a read if the changes affect you or a family member: https://www.moneysavingexpert.com/students/student-loans-england-plan-5/