UK Student Loan Repayment Calculator
Work out your student loan repayments — monthly repayments by plan type, computed with current thresholds for Plans 1, 2, 4, and 5.
UK Student Loan Calculator
2026–27 gov.uk thresholds · Income-based repayments
Repayment Summary
PLAN 2Your repayment summary
A plain-English read of your estimated UK student loan repayment for the 2026–27 tax year, using the official gov.uk income thresholds.
Repayments across different salaries
Estimated monthly repayment at a range of gross salaries, using your selected plan(s). Repayments rise by 9% of every GBP earned above the threshold (plus 6% above GBP 21,000 if you have a Postgraduate Loan).
| Gross salary | Above threshold | Monthly | Annual |
|---|
Your salary across every plan
What the same gross salary would repay on each UK student loan plan for 2026–27. The plan you selected is highlighted. The Postgraduate Loan is a separate loan that is added on top of any undergraduate plan.
| Plan | Threshold | Rate | Monthly on this salary |
|---|---|---|---|
| Plan 1 | GBP 26,900 | 9% | GBP 38 |
| Plan 2◀ Your plan | GBP 29,385 | 9% | GBP 20 |
| Plan 4 (Scotland) | GBP 33,795 | 9% | GBP 0 |
| Plan 5 | GBP 25,000 | 9% | GBP 53 |
| Postgraduate Loan | GBP 21,000 | 6% | GBP 55 |
How your repayment is calculated
UK student loans behave more like a graduate contribution than a typical debt. These are the rules that determine the figure shown above.
Undergraduate plan
9% of income above GBP 29,385 (Plan 2).
Postgraduate Loan
Not selected. A Postgraduate Loan adds 6% of income above GBP 21,000.
How UK Student Loan Repayments Work
A reference guide to repaying student loans in the UK — the five repayment plans, how much you repay at different salaries, how multiple loans interact, and worked examples. All figures verified against official gov.uk and Student Loans Company guidance.
The UK Student Loan Landscape
UK student loans are income-contingent: repayments depend on what you earn, not on the size of your balance. The total value of outstanding English student loans reached GBP 266.6 billion at the end of the 2024–25 financial year, up around 13% on the year before. Roughly GBP 21 billion is lent each year to about 1.5 million higher education students in England, and the Government forecasts the loan book could reach around GBP 500 billion (in 2023–24 prices) by the late 2040s.
Average balances are high — about GBP 53,000 for English students who finished their course in 2024 — but because repayment is capped at a fixed percentage of income above a threshold, and any remaining balance is written off after the plan term, the headline balance is not what most borrowers actually repay. The Department for Education forecasts that around 56% of full-time undergraduates starting in 2024/25 will repay in full.
Repayment in Common Situations
How gov.uk's rules generally apply beyond a single steady salary. Treatment can vary with individual circumstances — these are general descriptions only.
Bonus or overtime months
Employers calculate deductions on each pay period, not on the annual total. A bonus or extra overtime can push a single month's pay over the threshold and trigger a deduction even when yearly income is below it. If annual income ends up below the threshold, a refund can be requested from the SLC.
Self-employment
For the self-employed, repayments are collected through Self Assessment rather than PAYE, based on taxable income above the threshold. Borrowers who are both employed and self-employed may repay through both, and can claim credit on the tax return for amounts an employer has already deducted.
Working abroad
Leaving the UK for more than three months means repaying the SLC directly, and the SLC must be told before departure. The same 9% (or 6%) rate applies, but the threshold is adjusted for living costs in the country of residence, and a fixed monthly amount may be charged if income details are not provided.
Voluntary overpayments
Extra voluntary repayments can be made at any time, but they do not reduce the amount taken through PAYE — an employer still deducts the usual figure. Whether overpaying is worthwhile depends on whether the balance would otherwise be cleared before it is written off.
The Five Repayment Plans Compared
Your plan depends on when and where you studied — you cannot choose it. These are the official 2026–27 thresholds and the rules attached to each plan.
Thresholds, rates & write-off (2026–27)
| Plan | Who is usually on it | Threshold | Rate | Written off |
|---|---|---|---|---|
| Plan 1 | Started before 1 Sep 2012 (England / Wales / NI) | GBP 26,900 | 9% | 25 years after due to repay (age 65 for pre-2006 loans) |
| Plan 2 | Started 1 Sep 2012 – 31 Jul 2023 (England / Wales) | GBP 29,385 | 9% | 30 years after due to repay |
| Plan 4 | Scottish students (replaced Plan 1 from April 2021) | GBP 33,795 | 9% | 30 years after due to repay |
| Plan 5 | Started on / after 1 Aug 2023 (England) | GBP 25,000 | 9% | 40 years after due to repay |
| Postgraduate | Master's from 1 Aug 2016 / Doctoral from 1 Aug 2018 (England) | GBP 21,000 | 6% | 30 years after due to repay |
How two loans interact
| Combination | How it is calculated |
|---|---|
| Two undergraduate plans (e.g. Plan 1 + Plan 2) | Consolidated into a single 9% deduction over the lower threshold — 9% is not charged twice. |
| Undergraduate + Postgraduate Loan | Assessed separately and added together: 9% over the undergraduate threshold plus 6% over GBP 21,000. |
| Postgraduate Loan only | 6% of income above GBP 21,000, with no undergraduate deduction. |
Interest rates by plan (2026–27)
| Plan | Interest (affects balance only) |
|---|---|
| Plan 1 | Lower of RPI or Bank Base Rate + 1% |
| Plan 2 | RPI while studying; after leaving, RPI to RPI + 3% depending on income |
| Plan 4 | Lower of RPI or Bank Base Rate + 1% |
| Plan 5 | RPI only |
| Postgraduate | RPI + 3% |
Worked Examples
Illustrative scenarios showing how the 2026–27 rules apply at common salaries. Figures are examples only and do not reflect any individual's circumstances.
UK Student Loan Repayment Snapshot
How repayments scale with salary across every plan
gov.uk thresholds · 2026–27 tax yearRepayment Analysis
By salary, by plan, and the thresholds behind them
With vs Without a Postgraduate Loan
Monthly repayment on Plan 2 alone vs Plan 2 + Postgraduate Loan
Write-Off Period by Plan
Years after entering repayment until any balance is cancelled
Repayment as % of Gross Pay
Effective repayment rate on a Plan 2 loan as salary rises
| Plan | Threshold | Rate | Monthly @ GBP 30k | Monthly @ GBP 40k | Monthly @ GBP 50k | Write-off |
|---|---|---|---|---|---|---|
| Plan 1 | GBP 26,900 | 9% | GBP 23 | GBP 98 | GBP 173 | 25 yrs |
| Plan 2 | GBP 29,385 | 9% | GBP 5 | GBP 80 | GBP 155 | 30 yrs |
| Plan 4 (Scotland) | GBP 33,795 | 9% | GBP 0 | GBP 47 | GBP 122 | 30 yrs |
| Plan 5 | GBP 25,000 | 9% | GBP 38 | GBP 113 | GBP 188 | 40 yrs |
| Postgraduate Loan | GBP 21,000 | 6% | GBP 45 | GBP 95 | GBP 145 | 30 yrs |
UK Student Loan News & Updates
Recent HMRC, Student Loans Company, Department for Education and HM Treasury announcements affecting student loan repayments — sourced from official government channels.
Lifelong Learning Entitlement Replaces the Current Loan System
From January 2027 the Lifelong Learning Entitlement (LLE) becomes the single student finance system for many level 4–6 courses in England, with applications opening in September 2026. It keeps the Plan 5 repayment terms unchanged.
Key Changes
- Applies to new learners in England starting eligible courses from 1 January 2027
- Applications open from September 2026 through an SLC personal account
- Tuition fee loan entitlement of up to GBP 38,140 — equal to four years of study at 2025/26 fee rates
- Funding can be used flexibly across full courses and shorter modules over a career
- Repayments remain on Plan 5 terms: 9% above GBP 25,000, written off after 40 years
Impact
Repayment mechanics are unchanged for most graduates; the main differences are how funding is measured and when it can be accessed.
What to Watch
Courses starting before January 2027 remain on the current system. Previous borrowing reduces the available LLE balance.
Plan 5 Repayments Begin for the First Time
From April 2026, borrowers on Plan 5 — those who started undergraduate courses in England on or after 1 August 2023 — became liable to make repayments for the first time, with HMRC issuing start notices to employers.
Key Changes
- Repayments are 9% of income above GBP 25,000 a year (GBP 2,083 a month)
- No Plan 5 repayments were due before April 2026, even if a borrower left their course early
- Employers receive SL1 start notices and deduct repayments through PAYE
- Plan 5 interest is set at RPI only, and balances are written off after 40 years
Impact
Plan 5 has the lowest undergraduate threshold, so repayments can start at a lower salary than Plan 2.
What to Watch
New joiners should confirm their plan type on the starter checklist so the correct deductions are applied.
2026–27 Repayment Thresholds Take Effect
HMRC confirmed the student and postgraduate loan repayment thresholds for the 2026–27 tax year, applied from 6 April 2026. Plans 1, 2 and 4 rose, while Plan 5 and the Postgraduate Loan thresholds stayed frozen.
2026–27 thresholds (9% over, except Postgraduate at 6%)
- Plan 1: GBP 26,900 a year (GBP 2,241 a month)
- Plan 2: GBP 29,385 a year (GBP 2,448 a month)
- Plan 4 (Scotland): GBP 33,795 a year (GBP 2,816 a month)
- Plan 5: GBP 25,000 a year (GBP 2,083 a month) — frozen
- Postgraduate Loan: GBP 21,000 a year (GBP 1,750 a month) — frozen
Impact
Borrowers on Plans 1, 2 and 4 see a slightly higher threshold, marginally reducing deductions at lower salaries.
What to Watch
Payroll software applies the new thresholds automatically from the first pay period after 6 April 2026.
UK Student Loan Repayments — Frequently Asked Questions
Common questions about repaying UK student loans — how repayments work, the five plans, multiple loans, and special cases — verified against official gov.uk guidance.
UK student loans are income-contingent. For Plans 1, 2, 4 and 5 you repay 9% of your income above the repayment threshold; for the Postgraduate Loan it is 6% above GBP 21,000. The amount is based on what you earn, not on how much you borrowed.
gov.uk What You PayNo. If your income is below your plan threshold, no repayment is due. Repayments only start once your income is over the threshold, and they stop again automatically if your income falls back below it.
gov.uk What You PayFor the 2026–27 tax year (6 April 2026 to 5 April 2027), the annual thresholds are:
- Plan 1: GBP 26,900
- Plan 2: GBP 29,385
- Plan 4 (Scotland): GBP 33,795
- Plan 5: GBP 25,000
- Postgraduate Loan: GBP 21,000
Take your gross annual income, subtract your plan threshold, multiply by the rate, then divide by 12. For example, on Plan 2 (GBP 29,385 threshold) at a GBP 35,000 salary: GBP 5,615 above threshold × 9% = GBP 505 a year, or about GBP 42 a month. Employers actually deduct on each pay period and round down to the nearest GBP, so a single month can differ slightly.
gov.uk What You PayNo. The monthly repayment depends only on your income, not your balance. Two people on the same plan earning the same salary repay the same amount, even if one owes GBP 20,000 and the other GBP 60,000. The balance only affects how much is eventually written off.
gov.uk What You PayFor most plans, repayments are due from the April after you finish or leave your course, and only once your income is over the threshold. Plan 5 borrowers were not due to repay before April 2026. Part-time and postgraduate borrowers may become due to repay earlier under specific rules.
gov.uk Terms & ConditionsIf you are employed, repayments are taken through PAYE alongside tax and National Insurance, and shown on your payslip. If you are self-employed, they are collected through Self Assessment based on your taxable income above the threshold.
gov.uk Terms & ConditionsYour plan depends on when and where you studied — you cannot choose it. In general: Plan 1 for courses before September 2012; Plan 2 for England/Wales courses from 2012 to July 2023; Plan 4 for Scottish loans; Plan 5 for English courses from August 2023; and the Postgraduate Loan for postgraduate study.
gov.uk Which Repayment PlanPlan 5 applies to students in England who started an undergraduate course on or after 1 August 2023. The repayment threshold is GBP 25,000 (the lowest of the undergraduate plans), repayments began in April 2026, interest is set at RPI only, and any remaining balance is written off 40 years after you become due to repay.
gov.uk Terms & ConditionsPlan 4 applies to borrowers repaying Scottish student loans and replaced Plan 1 for Scottish borrowers from April 2021. For 2026–27 the threshold is GBP 33,795 — the highest of any plan — and you repay 9% of income above it. Interest is the lower of RPI or the Bank Base Rate plus 1%.
gov.uk Which Repayment PlanAny balance remaining after the plan term is cancelled. The term depends on your plan: Plan 1 25 years after you are due to repay (or age 65 for pre-2006 loans); Plan 2 30 years; Plan 4 30 years; Plan 5 40 years; and the Postgraduate Loan 30 years.
gov.uk Terms & ConditionsThe two loans are assessed separately and added together. You repay 9% of income above your undergraduate threshold plus 6% of income above the GBP 21,000 Postgraduate Loan threshold. For example, on Plan 2 + Postgraduate at GBP 45,000, that is about GBP 1,405 plus GBP 1,440 — roughly GBP 237 a month combined.
gov.uk What You PayTwo undergraduate plans are consolidated into a single 9% deduction over the lower threshold — you do not pay 9% twice. For instance, with Plan 1 and Plan 2, you repay 9% of income above the Plan 1 monthly threshold, and that single deduction is split between the two loans.
gov.uk Terms & ConditionsYes. If you only have a Postgraduate Loan, you repay 6% of income above GBP 21,000 with no undergraduate deduction. If you later take out, or already have, an undergraduate loan as well, the two are assessed independently and stacked.
gov.uk What You PayNo. Whatever interest rate applies to your plan, the amount taken from your pay each month is still 9% (or 6%) of income above the threshold. The interest rate only affects your outstanding balance and how much is written off at the end of the term.
House of Commons LibraryIf you are self-employed, repayments are collected through Self Assessment as part of your tax bill, based on your taxable income above the threshold. If you are both employed and self-employed, you may repay through both and can claim credit on your tax return for amounts your employer has already deducted.
gov.uk Terms & ConditionsIf you leave the UK for more than three months, repayments are made to the Student Loans Company directly, and the SLC must be notified before departure. The same 9% (or 6%) rate applies, but the threshold is adjusted for living costs in the country of residence. If income details are not provided, a fixed monthly amount may be charged.
gov.uk How You RepayNo. You can make voluntary repayments at any time, but they do not change the amount taken through PAYE — your employer still deducts the usual figure. Whether overpaying is worthwhile depends on whether you would otherwise clear the balance before it is written off.
gov.uk Terms & ConditionsYes. If a bonus or overtime month pushed your pay over the threshold but your annual income ended up below it, you can request a refund from the SLC — this is not automatic. You can also be refunded if you continued paying after your loan was cleared.
gov.uk Getting a RefundWhen you change jobs, your previous employer may give you a P45 marked to show you have a student loan, and your new employer will resume deductions once your pay is over the threshold. If you do not have a P45, tell your new employer or tick the student loan box on the starter checklist.
gov.uk Terms & ConditionsImportant Disclaimer
For educational and informational purposes only. This calculator produces estimates of UK student loan repayments based on the inputs provided and the official gov.uk income thresholds for the 2026–27 tax year. Repayments are calculated as 9% of income above the relevant plan threshold (6% for the Postgraduate Loan), in line with the income-contingent repayment rules. The calculator simplifies several aspects of student loan repayment and does not capture every individual circumstance.
Not a complete picture of student loan repayment. Employers calculate repayments on each pay period and round down to the nearest GBP, so the amount deducted in an individual week or month can differ from the annualised figure shown. Treatment can also differ for self-employed borrowers, those repaying from overseas, borrowers holding more than one plan, and those entitled to refunds. Interest rates and loan write-off terms vary by plan and affect the outstanding balance rather than the amount repaid each pay period.
No warranty of accuracy. While Money Snap takes reasonable care to source figures from official authorities (gov.uk, HMRC and the Student Loans Company), this calculator is provided "as is" without any express or implied warranty as to accuracy, completeness, timeliness, or fitness for any particular purpose. Repayment thresholds, rates, and rules change — figures shown may be out of date, and individual circumstances not captured by the inputs may materially affect actual repayments.
Not financial advice. Information provided is general in nature only and does not take into account your personal objectives, financial situation, or needs. Results do not constitute financial, tax, or legal advice, and use of this calculator does not create an advisory relationship. Before acting on any figure shown, obtain personal advice from a suitably qualified professional, or refer to gov.uk and the Student Loans Company directly.
Limitation of liability. To the maximum extent permitted by law, Money Snap accepts no liability for any loss, damage, cost, or expense — direct or indirect — arising from reliance on this calculator or the information it produces. Users are responsible for verifying all figures with the relevant authority before relying on them. Use of this calculator is subject to our Terms of Use.
Official data sources
Data source: gov.uk — Student loans terms & conditions 2026–27 and SL3 deduction tables. Loan balance: Student Loans Company, 2024–25. Repayment figures are estimates based on a steady annual salary.