Student Loan Repayment Calculator UK

Model your UK student loan repayments across Plan 1, 2, 4, 5 and Postgraduate. Free monthly repayment, total cost and write-off date. Unlock full amortisation table and overpayment comparison — £2.99 one-off.

UK student loan repayments are deducted automatically from your salary once you earn above the repayment threshold for your plan type. For Plan 2 borrowers (those who started university in England or Wales from September 2012), the threshold is £27,295 per year, and you repay 9% of everything you earn above that figure.

The five plan types each carry different thresholds and interest rates. Plan 1 applies to those who started before 2012 (threshold £24,990), Plan 4 covers Scottish graduates (threshold £31,395), and Plan 5 is the newer structure for students starting from 2023 with a 40-year repayment term. Postgraduate Loan repayments run concurrently at 6% above £21,000.

The Student Loans Company reported that outstanding student loan debt in England reached £236 billion by March 2024 (SLC Official Statistics, 2024). Understanding which plan you are on and when your loan is written off is essential for making informed decisions about voluntary repayments.

How to model your student loan repayments

  1. Select your loan plan type (Plan 1, 2, 4, 5, or Postgraduate)
  2. Enter your current salary and outstanding loan balance
  3. Set the interest rate and any anticipated salary growth
  4. See your monthly repayment, total cost, and projected write-off date

Written by the CalcStack team · Last updated March 2026

Your loan details

Interest rate: 7.3%
Threshold: £27,295
Write-off: 30 years

Frequently asked questions

When do I start repaying my student loan?▾
You start repaying in the April after you leave your course or the April after you start earning above the repayment threshold, whichever is later. Repayments are automatically deducted from your salary through PAYE if you are employed.
What are the current student loan repayment thresholds?▾
As of 2024/25: Plan 1 is GBP 24,990/year, Plan 2 is GBP 27,295/year, Plan 4 (Scotland) is GBP 31,395/year, Plan 5 is GBP 25,000/year, and Postgraduate Loans is GBP 21,000/year. These thresholds are reviewed annually.
How much do I repay each month?▾
You repay 9% of everything you earn above the threshold (6% for Postgraduate Loans). For example, on Plan 2 earning GBP 35,000, you would repay 9% of GBP 7,705 (GBP 35,000 minus GBP 27,295) which is about GBP 58 per month.
When is my student loan written off?▾
Plan 1: 25 years after the April you were first eligible to repay. Plan 2: 30 years. Plan 4: 30 years. Plan 5: 40 years. Postgraduate: 30 years. Any remaining balance is written off and you owe nothing further.
Should I make voluntary overpayments on my student loan?▾
For most graduates, voluntary overpayments are not recommended because the loan is written off after a set period. If you are a high earner who will repay in full before the write-off date, overpayments can save on interest. Use this calculator to model the difference.
What happens to my student loan if I move abroad?▾
You still have to make repayments. SLC will contact you to set up repayments based on your income and the cost of living in your country. You must inform SLC of your overseas income annually. Failure to make repayments can result in penalties.
Does student loan affect my credit score?▾
Student loans do not appear on your credit report and do not directly affect your credit score. However, repayments reduce your take-home pay which affects how much lenders calculate you can afford when applying for a mortgage.
What is the interest rate on student loans?▾
Plan 1 and Plan 4: currently 4.3% (linked to the lower of RPI or Bank of England base rate + 1%). Plan 2, Plan 5 and Postgraduate: currently 7.3% (linked to RPI + up to 3% depending on income). Rates are reviewed annually.
Can I repay my student loan early?▾
Yes, you can make voluntary repayments at any time by contacting the Student Loans Company. There are no early repayment penalties. However, consider whether the money might be better used elsewhere, especially if your loan will be written off before you fully repay it.
What happens if I have both Plan 1 and Plan 2 loans?▾
If you have loans on multiple plans, you make repayments on both simultaneously. HMRC and SLC will split your 9% repayment between the plans. Plan 1 is usually repaid first because it has a lower threshold. Your total repayment rate does not exceed 9% (plus 6% if you also have a Postgraduate Loan).

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© 2026 CalcStack — a Flavoureak UK Ltd product. Student loan calculations are estimates based on current rates and thresholds. Actual repayments depend on SLC terms and annual threshold changes.