Student Loan Plan 5 in EduPay
The new Student Loan Plan 5 repayment option comes into force from 6 April 2026.
It must be applied to employees who:
- Received their Student Loan from England
- Started their course after 1st August 2023
The threshold to start repayment is £25,000 per year. This equates to £2,083 per month. Employees with this Plan assigned to them will be deducted 9% of any monthly earnings over £2,083.
The new option will be added to all relevant screens and Reports in EduPay on April 6th 2026.
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