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Student loan repayment calculator

See what comes off your pay each month for your student loan plan, and a projection of how much you will repay before the balance is cleared or written off.

Tax year 2026/27 Rules checked: November 2026 How we calculate

£
£
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Your statement or GOV.UK shows the current rate for your plan.

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More options
Monthly repayment now£42.08
Per year
£5059% above £29,385
Written off after
30 more years
Total you would repay
£70,509£37,222 written off

Projection

SalaryRepaidBalance after
Year 1£35,000£505£46,295
Year 2£36,050£599£47,548
Year 3£37,132£697£48,753
Year 4£38,245£797£49,906
Year 5£39,393£900£51,002
Year 10£45,667£1,465£55,425
Year 15£52,941£2,120£57,470
Year 20£61,373£2,878£56,089
Year 25£71,148£3,758£49,922
Year 30£82,480£4,778£37,222
  • Repayments are taken through PAYE each pay period: 9% (6% for postgraduate loans) of earnings above the threshold, rounded down.
  • The projection keeps thresholds at 2026/27 levels and uses one interest rate for every year; real thresholds and rates change each year, so treat it as a guide.
  • Whatever is left at the write-off date is cancelled, and nothing is owed if you earn below the threshold.

This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency.

2026/27 thresholds

PlanWho has itThreshold (year)RateWritten off
Plan 1England/Wales before Sept 2012, Northern Ireland£26,9009%25 years
Plan 2England/Wales, Sept 2012 – July 2023£29,3859%30 years
Plan 4Scotland£33,7959%30 years
Plan 5England, courses from Aug 2023£25,0009%40 years
PostgraduateMaster’s and doctoral loans£21,0006%30 years

Worked example: Plan 1, £35,000 salary, £15,000 balance

Plan 1, £35,000 a year, £15,000 left, 4% interest, 3% pay rises

Monthly repayment now£60.75
Per year
£7299% above £26,900
Paid off in
15 years
Total you would repay
£21,227

How repayments work

Your employer deducts repayments through PAYE every payday, based on that pay period’s earnings – so a bonus month can trigger a repayment even if your annual salary is below the threshold. Self-employed borrowers repay through Self Assessment. Interest rates are set each September and differ by plan; check your balance and rate in your online student loan account.

Questions people ask

How much student loan do I repay on £35,000?

On Plan 2 the 2026/27 threshold is £29,385, so you repay 9% of £5,615 – £505 a year, about £42 a month. On Plan 5 the threshold is £25,000, so it is £900 a year.

What are the 2026/27 repayment thresholds?

Plan 1 £26,900, Plan 2 £29,385, Plan 4 (Scotland) £33,795, Plan 5 £25,000 and postgraduate loans £21,000 a year. You repay 9% of income above the threshold (6% for postgraduate loans).

When is my student loan written off?

Plan 1 loans taken out from September 2006 are written off 25 years after the April you were first due to repay, Plan 2 and Plan 4 after 30 years, Plan 5 after 40 years and postgraduate loans after 30 years.

Should I pay off my student loan early?

Only if you expect to clear it before the write-off date anyway. Many Plan 2 borrowers never repay the full balance, so extra payments can be money they would never have had to pay.

Official sources

Rules checked: November 2026.

This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency. Read the full disclaimer.