Scottish Student Loan - New Plan Type 4 | Moorepay

Payroll Legislation

Scottish Student Loan - New Plan Type 4

Legislation

Scottish Student Loan - New Plan Type 4

Date

Effective 6 April 2021

Summary

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.

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