Scottish Student Loan - New Plan Type 4
Effective 6 April 2021
This will be for new and existing borrowers and the repayment period reduced from 35 years to 30 (in line with England & Wales).
This increase in threshold has created the need to introduce a new Scottish Student Loan Plan type.
On 6 April 2021, anyone who has taken a Student Loan from Scotland will repay under a new Plan type 4.
Employers will be notified of any plan type moves from Plans 1 to 4, using the current SL1/PGL1 notification process, in time for April 2021.