Starting from 6th April 2021, the Government will be releasing a new Student Loan repayment plan for people on Scottish Student loans (SSL).
The Student Loan Plan 01 which is currently used for Scottish SL repayment will be replaced with the SL Plan 04. Under the 04 plan, Scottish SL borrowers will be making repayments calculated on a 9% recovery rate on all earnings above the £25.000 annal threshold.
The below table shows the Student and Postgraduate loan Annual threshold and recovery rate for the 2021-2022 tax year:
