Do the 30 and 40-yeal long loans get merged?

Dear Student Finance Team,

As the title suggests I would like to ask if I am to sign up for a new course (I am considering PGCE in computing) for the 2023/2024 academic year, will my old Student Finance Loans, accrued before the 23/24 academic year (Plan 2), get merged with the new one (Plan 5) and also be owed for 40 years past graduation?

I am asking the above as the loans from my Undergraduate degree are due for up to 30 years after graduation or before they get paid off - whichever is sooner, but I just have seen that the terms for the new loans are for 40 years after graduation and I would like to know if those will be kept in a separate pool and won't extend the duration of my old loans?

Also, how will the repayment of having Plan 2 and Plan 5 Undergraduate loans work (from my understanding the PGCE loan is considered undergraduate despite having Postgraduate in the name, that is why I am counting it as plan 5 for the 23/24 year, but please correct me if I am wrong)? For example - will I make two separate 9% repayments for my earnings above the 27k and 25k respectively or will I make a combined repayment for the lower threshold the way it is done when one has both Plan 1 and Plan 2?

Last but not least, if the two loans are merged in one pool - does this mean that I will continue making 9% repayments on the total loans value combined of Plan 2 and Plan 5 for additional 10 years, or upon the expiration of 30 years, Plan 2 will be erased, and I will continue to make the 9% repayment solely for the second loan i.e. Plan 5? If that is the case, how are the repayments made for the first 30 years split between the two plans so one can check the amount outstanding on each?

Hope my questions make sense. I tried finding information on the government website but it was not comprehensive.

Thank you in advance for your help and I look forward to hearing from you.

Kind regards,
Kkonni

Hi there, For this query we will need you to contact our Repayments department, as they are currently not available on Live chat you can contact them using one of the following:

If you prefer to communicate to them via chat then you can message them on Twitter: https://twitter.com/ /SLC_Repayment or Facebook http://m.me/SLCRepayment -

Alternatively, they are also available on the phone. Their number is 0300 100 0611 and their opening hours are Mon-Fri, 8am-6pm.



Thanks, Karen

Hi Karen,

Thank you so much for the quick response. I will give the team a call on the number provided.

Thanks again and have a great weekend .

Kind regards,
Kkonni