About the UK Student Loan Calculator
This UK student loan calculator shows how much you repay each month from your salary, how much you are likely to repay in total, and whether your loan will be cleared or written off. It covers Plan 1, Plan 2 (England and Wales, courses from 2012), Plan 4 (Scotland), Plan 5 (England, courses from August 2023) and the Postgraduate Loan.
UK student loans work more like a graduate tax than a normal debt: you repay a fixed share of earnings above a threshold — 9% for undergraduate plans and 6% for the Postgraduate Loan — and any balance left at the end of the write-off period is cancelled. That means your salary path matters far more than the balance for many graduates. Enter your salary, expected pay rises, balance and interest rate to project the full repayment timeline.
Default thresholds are the 2026/27 tax-year figures published by GOV.UK (from 6 April 2026). Thresholds can change each April, so enter a custom threshold if yours has changed. Interest defaults are the rates from 1 September 2026: 4.1% (RPI) for Plans 1, 4 and 5, and 6% for the Postgraduate Loan (RPI + 3% capped at 6%). On Plan 2 the rate depends on income after you leave your course — RPI (4.1%) at or below £29,385, rising in a straight line to RPI + 3% at £52,885, with a 6% cap applied from 1 September 2026 to 31 August 2027 — and the calculator recalculates it each year as your salary grows. The projection keeps thresholds, RPI and the cap constant, assumes steady PAYE deductions and ignores voluntary repayments.
With the default inputs, the monthly repayment (this year) is £42.11. Change any value above to recalculate instantly.
How to use the uk student loan calculator
- 1Choose your repayment plan (check your student finance account if unsure).
- 2Enter your current salary and expected yearly pay rise.
- 3Enter your current balance and interest rate.
- 4Enter how many years you have already been repaying.
- 5Read your monthly repayment and whether the loan is likely to be written off.
Formula and method
Repayments are taken through PAYE as a percentage of what you earn above your plan’s threshold, not from the balance. If you earn below the threshold you repay nothing. Each month the calculator adds interest (balance × rate ÷ 12), deducts the repayment for that month’s salary, and increases the salary by your expected pay rise each year.
The loan ends when the balance reaches zero or when the write-off period expires: 25 years for Plan 1 (post-2006 loans), 30 years for Plans 2 and 4 and the Postgraduate Loan, and 40 years for Plan 5, counted from the April after you were first due to repay. Anything left at that point is cancelled. Default thresholds are 2026/27 values and are held constant.
On Plan 2 the yearly rate is RPI + 3% × (salary − £29,385) ÷ (£52,885 − £29,385), limited to between RPI and RPI + 3% and then to the government cap (6% from 1 September 2026). Other plans use the single rate you enter. GOV.UK applies the RPI rate during the tax year and adjusts to the income-based rate afterwards; the calculator applies the income-based rate directly.
- share
- 9% for undergraduate plans, 6% for the Postgraduate Loan
- RPI
- Retail Price Index rate set each 1 September from the previous March (4.1% from September 2026)
- threshold
- Plan repayment threshold (2026/27: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, PGL £21,000)
Worked examples
Plan 2, £35,000 salary, £45,000 balance
You repay 9% of the £5,615 above the £29,385 threshold: £505.35 a year or £42.11 a month. Your income sits 23.9% of the way from £29,385 to £52,885, so interest is 4.1% + 0.717% = 4.82%, rising to the 6% cap as pay grows. With 3% pay rises repayments never catch up, so you repay about £70,523 over 30 years and roughly £111,032 is written off.
Plan 2, £55,000 salary, £50,000 balance
On £55,000 you repay 9% of £25,615, or £192.11 a month. Income above £52,885 means RPI + 3% = 7.1%, capped at 6%. As your pay rises the repayments eventually overtake interest and the loan is cleared after about 24.4 years, having repaid roughly £109,531.
Postgraduate Loan, £40,000 salary, £12,000 balance at 6%
Postgraduate Loans take 6% of earnings above £21,000: 6% × £19,000 = £1,140 a year, or £95 a month. At the capped 6% rate and with 3% raises, the £12,000 balance is cleared in about 11 years for a total of around £16,992.
Plan 5, £32,000 salary, £50,000 balance at 4.1%
Plan 5 takes 9% of income above £25,000: 9% × £7,000 = £630 a year, or £52.50 a month. With 3% pay rises and 4.1% interest you repay about £127,156 over the 40-year term and around £16,200 is written off.
Frequently asked questions
How much do I repay on my UK student loan?+
You repay 9% of your income above your plan’s threshold (6% for Postgraduate Loans). In 2026/27 the thresholds are £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4, £25,000 for Plan 5 and £21,000 for the Postgraduate Loan.
What is the Plan 2 student loan interest rate for 2026/27?+
From 1 September 2026, Plan 2 interest after you leave your course is RPI (4.1%) if you earn £29,385 or less, rising gradually to RPI + 3% at £52,885 or more, but capped at 6% until 31 August 2027. Plans 1, 4 and 5 are charged 4.1% and Postgraduate Loans 6%.
Which student loan plan am I on?+
Plan 1 generally covers English and Welsh students who started before September 2012 and Northern Ireland students; Plan 2 covers England and Wales from 2012 to July 2023; Plan 4 is Scotland; Plan 5 covers English courses from August 2023. Your student finance account shows your plan.
When is a UK student loan written off?+
Plan 1 loans (from 2006) are written off 25 years after the April you were first due to repay, Plans 2 and 4 and Postgraduate Loans after 30 years, and Plan 5 after 40 years. Loans are also cancelled on death or permanent disability.
Should I make voluntary overpayments?+
Only if you are likely to repay the loan in full before write-off. If the projection shows a balance being written off, extra payments usually reduce the amount cancelled rather than what you pay overall.
Do I repay both a Postgraduate and an undergraduate loan?+
Yes. If you have both, you pay 6% above the Postgraduate threshold plus 9% above your undergraduate plan threshold at the same time. Run the calculator once for each loan and add the monthly figures.
Does my student loan affect my credit score?+
UK student loans from the Student Loans Company do not appear on your credit file, but mortgage lenders consider the monthly deduction when assessing affordability.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.