Student Loan Repayment Calculator

Work out your UK student loan repayment a month now, the total you will repay, and whether you clear it or it is written off, for Plans 1, 2, 4, 5 and Postgrad.

Reviewed by Dany, RightSums team · Updated

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salary-tax · Daily life · UK

Enter each student loan you hold, its balance and the April you first had to repay, then your salary. The calculator shows what comes off your pay each month now under the 2026/27 thresholds, using the same method as payroll: 9% over the lowest threshold for Plans 1, 2, 4 and 5, plus 6% over £21,000 for a Postgraduate Loan, split between plans as GOV.UK describes. It then projects your balance month by month, adding interest at each plan's rate, including the Plan 2 rate that rises with income and the 6% cap to August 2027, and the Plan 2 threshold freeze to April 2030. You see the year you clear the loan or the date it is written off, the total you repay in cash and at today's prices, a year-by-year table and a balance chart. A one-off or monthly overpayment shows whether paying early saves money or is lost to the write-off. Future RPI, pay rises and threshold rises are labelled assumptions you can change.

Accepted inputs

  • One or more repayment plans: Plan 1, Plan 2, Plan 4 (Scotland), Plan 5 and Postgraduate Loan
  • Balance now for each plan
  • The April each plan was (or will be) first due to repay
  • Plan 1 first loan before 1 September 2006, or Plan 4 before 1 August 2007, with your age for the write-off at 65
  • Yearly pay before tax, including bonuses and overtime
  • Assumptions: yearly pay rise, RPI from September 2027, yearly threshold rise and, optionally, the Bank of England base rate
  • Extra repayments: a one-off amount now and a monthly amount, and which plan they go to

Outputs

  • Monthly and yearly repayment taken from your pay now, split by plan
  • Each plan's threshold, current interest rate and interest added a month
  • Date each plan is cleared or written off, and how much is written off
  • Total you repay, in cash and at today's prices, and the total interest added
  • Balance chart and a year-by-year table of pay, repayments, interest and balance
  • Totals with and without extra repayments, and whether paying early saves money or costs more
  • The assumptions used, with GOV.UK sources and the date they were checked

How to use the Student Loan Repayment Calculator

  1. Add each student loan plan you hold with its balance and the April you were first due to repay, then enter your yearly pay before tax.
  2. The calculator takes 9% of pay over the lowest of your plans' thresholds, plus 6% over £21,000 for a Postgraduate Loan, using monthly thresholds and rounding down as payroll does.
  3. It then adds interest every month at each plan's rate, raises your pay and the thresholds each April by the assumptions you set, and keeps the Plan 2 threshold at £29,385 until April 2030.
  4. The projection runs until each loan is cleared or reaches its write-off date: 25 years for Plan 1, 30 for Plans 2 and 4 and the Postgraduate Loan, 40 for Plan 5, or age 65 for older loans.
  5. Enter a one-off or monthly overpayment to compare the total you would repay with and without it.

Frequently asked questions

How much student loan will I repay a month?

You repay 9% of your pay above your plan's monthly threshold, or 6% above £1,750 for a Postgraduate Loan. In 2026/27 the monthly thresholds are £2,241 for Plan 1, £2,448 for Plan 2, £2,816 for Plan 4 and £2,083 for Plan 5. On £40,000 a year, Plan 2 takes £79 a month.

Should I pay off my student loan early?

Only if you would clear it before it is written off anyway. Then overpaying cuts the interest you pay. If the balance would be written off, extra repayments add to your total and cannot be refunded. On our assumptions, a £45,000 Plan 2 balance is cleared at £60,000 a year but written off at £45,000.

How long will it take to pay off my student loan?

It depends on your salary and balance, not just the balance. Many borrowers never clear the loan: Plan 2 is written off 30 years after the April you were first due to repay and Plan 5 after 40 years. The calculator shows the month you clear it or the write-off date for your figures.

How do repayments work if I have two plans?

With two undergraduate plans you make one 9% repayment over the lower threshold. The lower-threshold plan gets at most 9% of the gap between the thresholds and the rest goes to the other plan. A Postgraduate Loan adds 6% over £21,000 on top, so Plan 2 and a Postgraduate Loan on £30,000 take £49 a month.

What interest is charged on my student loan?

From 1 September 2026 interest is 4.1% on Plans 1, 4 and 5. Plan 2 is 4.1% at £29,385 or less, rising with income to a 6% cap, and the Postgraduate Loan is 6%. The 6% cap applies until 31 August 2027, after which the calculator uses the RPI you enter.

Is the Plan 2 repayment threshold frozen?

Yes. Budget 2025 froze the Plan 2 threshold at £29,385 for three years from April 2027, so it stays the same in 2027/28, 2028/29 and 2029/30. The calculator keeps it frozen for those years and then raises it by the threshold rise you choose.

Why does the total I repay go up on a middle salary?

Middle earners can repay the most because they pay for decades while interest builds, then clear the loan near the end. Lower earners have more written off, and high earners clear it fast with less interest. On our assumptions, a £45,000 Plan 2 balance costs £83,500 at £60,000 but £63,222 at £80,000.

Sources

The rates and rules in this tool come from:

Guides that use this tool

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