Understanding Plan 5 student loans

Department for Education

This article or update has been provided by the Department for Education

This post first published: 09 February 2023

In February 2022, the government announced that English students starting an undergraduate course from August 2023, would have new repayment terms and conditions, known as Plan 5 student loans. The Department for Education has produced a set of resources that explain how student loans work in general and what having a Plan 5 loan means in terms of repayments.


These resources are aimed at helping prospective students and those thinking about applying for a student loan. Please download and use these resources with your pupils and young people. The explanatory video is an especially useful information product that clearly explains student finance in just a few minutes. This could be played in a classroom or assembly for example, or sent directly to those who may find it useful, including the parents of young people.