UK Student Loan Repayment Calculator

You repay 9% of everything you earn above your plan's threshold (6% for a Postgraduate Loan). The 2024/25 annual thresholds are: Plan 1 £24,990, Plan 2 £27,295, Plan 4 (Scotland) £31,395, Plan 5 £25,000, and Postgraduate Loan £21,000. So on Plan 2 earning £35,000, you repay 9% of (£35,000 − £27,295) = about £693 a year, or roughly £57 a month.

It depends when and where you studied. Plan 1: English/Welsh students who started before Sept 2012, and most Northern Irish students. Plan 2: English/Welsh students who started between Sept 2012 and July 2023. Plan 4: Scottish students. Plan 5: English students who started their course in or after August 2023. Postgraduate Loan (PGL): a Master's or Doctoral loan, repaid on top of any undergraduate plan.

Yes. If you have a Postgraduate Loan alongside an undergraduate Plan 1, 2, 4 or 5, you repay both at the same time — 9% above the undergraduate threshold plus 6% above the £21,000 PGL threshold. That can mean an effective 15% marginal deduction on the overlap. This calculator adds a Postgraduate Loan toggle so you can see the combined figure.

Through PAYE it's calculated per pay period on your earnings from that employer, so it can differ from the strict annual figure if your income is uneven or you change jobs. The annual figure this calculator shows is the 'true' amount for the year; HMRC reconciles any over- or under-payment. Repayments also apply to some other income (like large amounts of savings/dividend income) via Self Assessment.

Write-off timing depends on your plan: Plan 1 typically 25 years after you became liable to repay (or age 65 for older loans); Plan 2 30 years; Plan 4 30 years; Plan 5 40 years; Postgraduate Loan 30 years. Because many borrowers never clear the balance before write-off, the repayment behaves more like a 9% graduate tax for a fixed period than a conventional loan — which is why focusing on the monthly cost, not the headline balance, is usually the right lens.

Often no. Because the debt is written off after a set period and repayments stop if your income drops, overpaying only helps if you're confident you'd clear the whole balance before write-off — typically higher earners on Plan 2/5 with smaller balances. For most people, money is better directed at higher-interest debt, a pension (especially to escape the £100k trap), or an ISA. Model your take-home first, then decide.