Payroll Legislation

What is the New Scottish Student Loan Plan Type?

Legislation

What is the New Scottish Student Loan Plan Type?

Due Date

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.

Making payroll & HR easy