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Student Loan Repayment Calculator

See your monthly student loan repayment on Plan 1, 2, 4, 5 or a postgraduate loan, the interest, and whether you’ll clear it before it’s written off.

Started an undergraduate course in England between 1 September 2012 and 31 July 2023, or in Wales from 1 September 2012.

£

A year

£
More options
%

Written off after 30 years

Monthly repayment

£42.11

9% of your salary over £29,385

Paid off in
Not before it’s written off
Written off after 30 years
£111,032
What happens to the loan
  • You repay£70,523
  • Written off£111,032

What this means

Repayments depend on what you earn, not what you owe: they’re taken through your payslip once your income passes the threshold, and stop if it falls below.

On these numbers £111,032 would be written off, so paying extra may never pay off: you’d be clearing debt that would otherwise go.

Next step

Year by year

YearSalaryRepaidOwed at the end
1£35,000£505£46,699
2£36,050£600£48,451
3£37,132£697£50,261
4£38,245£797£52,138
5£39,393£901£54,088
10£45,667£1,465£65,201
15£52,941£2,120£77,280
20£61,373£2,879£89,424
25£71,148£3,759£100,997
30£82,480£4,779£111,032

About your loan

Plan 2: Started an undergraduate course in England between 1 September 2012 and 31 July 2023, or in Wales from 1 September 2012.

You repay 9% of your income over £29,385.

Interest from 1 September 2026 is 4.1% on incomes up to £29,385, rising with income to a cap of 6%. On your salary, it's 4.82%.

Written off 30 years after the April you were first due to repay.

Assumptions in this estimate
  • Your pay rises by 3% a year. Repayment thresholds stay at today’s levels.
  • Interest stays at the 2026/27 rates and is added monthly.
  • With a postgraduate loan as well as an undergraduate plan, you repay both: 6% and 9% of your income over each threshold.
  • Extra voluntary repayments aren’t included.
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How the calculator works

  1. Your repayment: 9% of your salary over your plan’s threshold (6% for a postgraduate loan), taken from your pay.
  2. Year by year: interest is added, your repayments come off, and your salary rises by the amount you choose under More options.
  3. Write-off: anything left at the end of your plan’s write-off period is cancelled.

Plans in 2026/27

Plan Who it’s for You repay Interest from Sept 2026 Written off after
Plan 1 England or Wales 1998–2012, NI from 1998 9% over £26,900 4.1% 25 years
Plan 2 England 2012–2023, Wales from 2012 9% over £29,385 4.1% to 6% 30 years
Plan 4 Scotland (SAAS) 9% over £33,795 4.1% 30 years
Plan 5 England from August 2023 9% over £25,000 4.1% 40 years
Postgraduate loan Master’s or Doctoral loan, England or Wales 6% over £21,000 6% 30 years

The write-off clock starts from the April you were first due to repay. Older Plan 1 and Plan 4 loans can end at age 65 instead.

With a postgraduate loan as well as an undergraduate plan, you repay both at the same time.

Last updated

Frequently asked questions

How much will I repay on £35,000?

On Plan 2, 9% of your salary over £29,385: £505 a year, or £42.11 a month. On Plan 5, it’s 9% over £25,000: £75 a month.

What interest will I pay from September 2026?

Plans 1, 4 and 5: 4.1%. Plan 2: 4.1% on incomes up to £29,385, rising with income to a cap of 6%. Postgraduate loans: 6%, capped until 31 August 2027 (it would otherwise be 7.1%).

Will I ever pay it off?

Not always. On Plan 2 with a £45,000 balance and a £35,000 salary rising 3% a year, you’d repay about £70,500 over 30 years, and the rest would be written off.

Is the Plan 2 threshold frozen?

The government has said the Plan 2 threshold will stay at £29,385 for three years from April 2027.

Should I make extra repayments?

Only if you expect to clear the loan before it’s written off. If you won’t, extra repayments mostly reduce the amount that would be written off anyway.