Student Loan Repayment Calculator

UK student loan repayments are not based on how much you borrowed — they are based purely on how much you earn above a plan-specific threshold. All four plans use a 9% repayment rate on income above the threshold, which means your monthly payment rises automatically as earnings grow but falls back to zero whenever your income drops below the threshold, regardless of outstanding balance. Plan 1 covers loans taken before 2012 in England and Wales, plus Northern Ireland borrowers. The Plan 1 threshold for 2026/27 is £24,990. Plan 2 applies to most English and Welsh undergraduates who started from 2012 onwards. Its 2026/27 threshold is £28,470. Plan 4 is the Scottish equivalent, applying to most Scottish students. The Plan 4 threshold is £31,395 — the highest of all four plans, meaning Scottish borrowers generally repay less per month on the same income. Plan 5 is the newest plan, covering English and Welsh students who started from August 2023. Its threshold is £25,000, but the big difference is the write-off period — 40 years versus 30 for Plan 2 or 25 for Plans 1 and 4. This calculator helps you work out your current monthly deduction, see how repayments differ across plans, and estimate how long it would take to clear a given balance at your current income. Keep in mind that student loan interest accrues on top of repayments, especially for Plan 2 (RPI + up to 3%) and Plan 5 (RPI + 7.3% while studying, then stepping down based on income). For many Plan 2 and Plan 5 borrowers on modest incomes, the balance will never be paid off in full before write-off — in that case, repayments are effectively a graduate income tax rather than a true loan repayment. For the UK Government's official figures and write-off rules see studentfinance.campaign.gov.uk. Pair this tool with the Take-Home Pay calculator to see your complete net pay picture, and the Self-Employed Tax calculator if you file Self Assessment.