Assumptions used here
| Tax/source year | 2026/27 |
|---|---|
| Region | Scotland |
| Tax code basis | 1257L where the page uses PAYE defaults |
| Pension basis | No pension deduction unless this example says otherwise |
| Student loan basis | plan4 |
Student loan Plan 4 repayment calculator
Estimate how Student Loan Plan 4 repayments affect salary and take-home pay, including pension, tax, and NI assumptions.
How plan 4 loan is worked out
Plan 4 is the Scottish plan, for borrowers funded by the Student Awards Agency for Scotland. It has the highest repayment threshold of the main plans, so repayments start at a higher salary than on Plan 1, Plan 2 or Plan 5. It is separate from Scottish Income Tax: being on Plan 4 does not put you on the Scottish rates, and paying Scottish rates does not put you on Plan 4.
What Plan 4 takes from a salary
The repayment is a percentage of what you earn above the Plan 4 threshold. Change the salary to see it move.
Take-home a year£30,501
- Gross
- £38,000
- Income Tax
- £5,086
- National Insurance
- £2,034
- Take-home a month
- £2,542
Of £38,000.00 gross a year: Income Tax £5,086.00, National Insurance £2,034.40, Student loan £378.45, Take-home £30,501.15.
Student loan repayments take £378.45 a year, which is £31.54 a month. Repayments are a percentage of what you earn above the plan's threshold, not of your whole salary.
Saving £125 a month — about 5% of this take-home — becomes £8,272.38 in five years at an example 4%: try the savings calculator.
2026/27 rates, England, Wales and Northern Ireland, Plan 4 student loan. Open the full calculator to change region or pension method.
Payslip showing different figures? The payslip checker works out what your pay and tax code should have produced and shows which assumption could explain the gap.
Checks worth making on plan 4 loan
Where pay can go
| Gross pay | Employment pay before PAYE deductions and pension or loan settings. |
|---|---|
| Income Tax | Tax estimated from the selected tax-year, region, tax code and taxable-pay assumptions. |
| National Insurance | Employee NI is calculated separately from Income Tax and may not follow the same bands. |
| Pension and loans | Pension method and student-loan plan can change take-home pay and payslip comparisons. |
What changes this result
| Pension contribution | Changing the rate or method can change taxable income, National Insurance and take-home pay. |
|---|---|
| Tax code and region | Scottish Income Tax, Welsh codes, emergency tax or a non-standard tax code can move the result. |
| Student loan plan | A different plan can change deductions because each plan uses its own threshold and repayment rate. |
| Bonus, overtime or second job | Extra pay and payroll timing can make a real payslip differ from the smooth annual estimate. |
Why a payslip can differ
| Tax code | HMRC tax-code changes, K codes, BR/D codes, or emergency markers can change PAYE deductions. |
|---|---|
| Cumulative basis | Week 1, Month 1 or non-cumulative payroll can differ from a smooth annual calculator estimate. |
| Pension method | Relief at source, net pay and salary sacrifice can affect taxable pay and take-home pay differently. |
| Payroll timing | Bonus, overtime, arrears, refunds, cut-off dates and corrections can all move a single payslip. |
Good next questions
| Why is the tax on my payslip higher than expected? | payslip difference |
|---|---|
| What do the main payslip lines mean? | payslip explainer |
| What tax code should I use for modelling? | tax code |
| How much does pension reduce take-home pay? | pension comparison |
| How does this affect a monthly budget? | budget planning |
Source and methodology context
| What is not decided here | PayBreakdown does not decide payroll correctness, lender approval, benefit entitlement or employer compliance, and does not give regulated financial, mortgage, debt, tax, payroll or legal advice. |
|---|
What the plan 4 loan estimate assumes
The figures on this page are worked from plan 4 loan, using the values below. Open the calculator if your example salary, region or student loan differs.
Example salary£38,000 annual gross
RegionScotland
Student loanPlan 4 student loan
What would change this figure
This estimate is worked out on £38,000 annual gross, scotland and plan 4 student loan. Interest rate, term, fees, deposit and the credit commitments you already have all move the result, and a lender applies its own affordability policy and credit checks on top. Treat the number as a way to see whether a repayment looks comfortable or stretched, not as an offer — and read it against your real bills, savings and any income change you expect. See how each deduction is worked out.
Official sources
Income Tax rates and Personal AllowancesScottish Income Tax rates and bandsNational Insurance rates and categoriesStudent loan repayment thresholdsPension tax reliefFrequently asked questions
What does the student loan plan 4 repayment calculator do?
It starts from the question on this page, shows the useful salary assumptions, and opens PayBreakdown's calculator so gross pay, take-home pay, tax, National Insurance, pension, student loan, region, and tax-code settings can be adjusted.
Can I change the assumptions?
Yes. Open the calculator from this page to change salary, hours, pension, student loan, tax year, region, tax code, bonus, and other pay settings.
Last updated 2026-08-27. Checked by Sean Elsmore. Rates last checked against GOV.UK on 2026-08-07. Estimates are for planning and should be checked against official records where the decision matters.