| Plan 2 | Plan 5 | |
|---|---|---|
| Yearly income threshold | £29,385 | £25,000 |
| Repayment rate | 9% above threshold | 9% above threshold |
| Interest (as shown on GOV.UK when checked) | Variable: 4.1% at £29,385 or less, rising to 6% at £52,885 or more | 4.1% |
| Written off | 30 years after the April you were first due to repay | 40 years after the April you were first due to repay |
Because Plan 5's threshold is £4,385 lower, anyone earning above £29,385 repays exactly £394.65 a year more on Plan 5 than they would on Plan 2 (9% of £4,385), which is about £32.89 a month.
Plan 5 also runs 10 years longer before any balance is written off.
Sources: GOV.UK — how much you repay, GOV.UK — write-off.
Last checked: 19 October 2026. Estimates only, not tax advice.
At the same salary above £29,385, Plan 5 takes £394.65 a year more, and repayments can run for 40 years instead of 30.