This UK student loan repayment calculator shows how much you repay each month on Plan 1, Plan 2, Plan 4, Plan 5 or a Postgraduate Loan, using the 2026/27 thresholds. Add your balance and interest rate to estimate whether you will clear the loan before it is written off.
2026/27 repayment thresholds
| Plan | Who has it | Yearly threshold | Rate | Written off |
|---|---|---|---|---|
| Plan 1 | England and Wales students who started before September 2012; Northern Ireland | £26,900 | 9% | 25 years after first due (loans from 2006) |
| Plan 2 | England and Wales students who started September 2012 – July 2023 | £29,385 | 9% | 30 years |
| Plan 4 | Scottish students (SAAS) | £33,795 | 9% | 30 years (loans from 2007) |
| Plan 5 | English students who started from August 2023 | £25,000 | 9% | 40 years |
| Postgraduate Loan | Master’s and doctoral loans | £21,000 | 6% | 30 years |
Repayments are taken through payroll each pay period: 9% (or 6%) of pay above the weekly or monthly threshold. If you have more than one plan, you repay against the lowest threshold first, and a Postgraduate Loan is repaid on top.
Worked example
A Plan 2 graduate earning £35,000 repays 9% of £5,615 (£35,000 − £29,385), which is £505.35 a year, or about £42.11 a month. With a £45,000 balance at 4.5% interest and 3% pay rises, the loan would be written off after 30 years with about £53,000 still unpaid, after you had repaid about £70,500.
Should you overpay?
Many Plan 2 and Plan 5 borrowers never repay the full balance before it is written off, so voluntary overpayments may not save money. Overpaying makes more sense if you expect to earn enough to clear the loan anyway, which this calculator helps you see.
Frequently asked questions
What is the Plan 2 threshold for 2026/27?
£29,385 a year (£2,448 a month or £565 a week). You repay 9% of income above it.
How much will I repay a month?
Take your yearly salary, subtract your plan’s threshold, multiply by 9% (6% for a Postgraduate Loan) and divide by 12. The calculator does this for you.
Does my student loan affect my credit score?
UK student loans from the Student Loans Company do not appear on your credit file, although mortgage lenders may ask about repayments.
What happens if I move abroad?
You must tell the Student Loans Company. Overseas repayment thresholds and fixed payments apply, depending on the country.
Is the interest rate the same every year?
No. Rates change each September and can be capped if they rise above market rates. Plan 2 and Postgraduate Loan rates can include up to RPI plus 3%.
Related calculators
- UK Take-Home Pay Calculator
- Scotland Take-Home Pay Calculator
- Student Loan Calculator (US)
- Budget Calculator
Sources
Last reviewed: October 2026 against official government sources. This calculator gives estimates for education only and is not tax advice.