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📘 About the UK Student Loan Calculator
UK student loans are repaid through your pay: 9% of income above your plan's threshold (6% above £21,000 for postgraduate loans). For 2026/27 the thresholds are £26,900 (Plan 1), £29,385 (Plan 2, frozen until 2030), £33,795 (Plan 4) and £25,000 (Plan 5).
Whatever is left is written off after 25 years (Plan 1), 30 years (Plan 2, 4 and postgraduate) or 40 years (Plan 5). Many Plan 2 graduates never clear the balance, so the calculator projects your salary and interest year by year to show the total you will actually repay.
🧮 Formula
✏️ Worked examples
Plan 2, £45,000 balance, £32,000 salary
You get| Repayment now | £19.58 a month (£235 a year) |
| Loan written off after | 30 more years with £126,815 still owed |
| Total you will repay | £57,661 |
| Plan 2 threshold 2026/27 | £29,385 a year — you repay 9% of income above it |
| Interest rate used | 4.43% this year (Plan 2: 4.1% at £29,385 rising to the 6% cap at £52,885) |
£19.58 a month (£235 a year); 30 more years with £126,815 still owed.
Plan 1, £15,000 balance, £40,000 salary
You get| Repayment now | £98.25 a month (£1,179 a year) |
| Loan paid off in | 12 more years |
| Total you will repay | £19,482 |
| Plan 1 threshold 2026/27 | £26,900 a year — you repay 9% of income above it |
| Interest rate used | 4.1% |
12 more years.
🧭 How to use this calculator
What you enter
- Loan plan
- Loan balance now (£)
- Salary before tax (£)
- Yearly pay rise (%)
- Interest rate (blank = current) (%)Leave blank to use the rates from 1 September 2026.
- Years already repaying (years)
- Extra voluntary payment a month (£)
What you get
- Repayment now
- Loan written off after
- Total you will repay
- Plan 2 threshold 2026/27
- Interest rate used
💡 Repayment thresholds 2026/27
- Plan 1: £26,900
- Plan 2: £29,385
- Plan 4: £33,795
- Plan 5: £25,000
- Postgraduate: £21,000 (6%)
❓ Frequently asked questions
How much will I repay on my student loan each month?
9% of what you earn above the threshold. On a £35,000 salary with Plan 2 that is 9% × (£35,000 − £29,385) = £505 a year, about £42 a month.
When is a Plan 2 student loan written off?
30 years after the April after you graduate or leave your course. Plan 1 is 25 years for loans from 2006, Plan 5 is 40 years.
Should I pay off my student loan early?
Only if the calculator shows you will clear it anyway. If most of it will be written off, overpaying usually means paying back money you would never have owed.
What is the student loan interest rate in 2026/27?
From 1 September 2026: Plan 1, 4 and 5 at 4.1% (RPI); Plan 2 between 4.1% and 6% depending on income; postgraduate 6% (capped).
