Student Loan Calculator
See what comes out of your pay for your student loan, how the balance changes over the years and whether it is likely to be paid off or written off.
Your student loan
Repayments start the April after you leave your course. Any balance left is written off 30 years after that.
You’re unlikely to clear it. On these figures the balance is written off before you repay it all, so you repay £16,310 in total, not the full balance. Overpaying would probably not save you money.
The Plan 2 threshold is frozen at £29,385 until April 2030, and interest is capped at 6% until August 2027. We assume the cap continues and thresholds rise with 3% inflation after that.
See year by year
| Tax year | Salary | Repaid | Balance |
|---|---|---|---|
| 2026/27 | £32,000 | £235 | £46,760 |
| 2027/28 | £32,960 | £322 | £48,569 |
| 2028/29 | £33,949 | £411 | £50,432 |
| 2029/30 | £34,967 | £502 | £52,357 |
| 2030/31 | £36,016 | £517 | £54,359 |
| 2031/32 | £37,097 | £533 | £56,442 |
| 2032/33 | £38,210 | £549 | £58,610 |
| 2033/34 | £39,356 | £565 | £60,865 |
| 2034/35 | £40,537 | £582 | £63,212 |
| 2035/36 | £41,753 | £600 | £65,654 |
| 2036/37 | £43,005 | £618 | £68,196 |
| 2037/38 | £44,295 | £636 | £70,841 |
| 2038/39 | £45,624 | £656 | £73,595 |
| 2039/40 | £46,993 | £675 | £76,462 |
| 2040/41 | £48,403 | £695 | £79,446 |
| 2041/42 | £49,855 | £716 | £82,553 |
| 2042/43 | £51,351 | £738 | £85,788 |
| 2043/44 | £52,891 | £760 | £89,157 |
| 2044/45 | £54,478 | £783 | £92,665 |
| 2045/46 | £56,112 | £806 | £96,319 |
| 2046/47 | £57,796 | £830 | £100,124 |
| 2047/48 | £59,529 | £855 | £104,087 |
| 2048/49 | £61,315 | £881 | £108,215 |
| 2049/50 | £63,155 | £907 | £112,516 |
| 2050/51 | £65,049 | £935 | £116,996 |
How repayments work
Yearly repayment = 9% × (salary − threshold)
Repayments are taken through your payslip, like tax. They depend on what you earn, not on how much you owe, and stop when you clear the balance or reach the write-off date.
2026/27 at a glance
| Plan | Threshold | Rate | Interest | Written off |
|---|---|---|---|---|
| Plan 1 | £26,900 | 9% | 4.1% | 25 years |
| Plan 2 | £29,385 | 9% | 4.1%–6% | 30 years |
| Plan 4 | £33,795 | 9% | 4.1% | 30 years |
| Plan 5 | £25,000 | 9% | 4.1% | 40 years |
| Postgraduate | £21,000 | 6% | 6% | 30 years |
Worked example
A Plan 2 graduate earning £32,000 repays £19.61 a month now. With 3% pay rises and a £45,000 balance, they repay about £16,300 in total before the rest is written off in 2051. On £60,000 the same loan is cleared by 2047/48 after repaying about £86,600.
See student loan deductions alongside tax and NI in the take-home pay calculator.
Sources
Figures are checked against these official sources. Last reviewed 7 November 2026.
Common questions
How much do I repay on my student loan?
9% of your income above your plan’s threshold (6% for postgraduate loans). For 2026/27 the thresholds are £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4, £25,000 for Plan 5 and £21,000 for postgraduate loans. Earn below the threshold and you repay nothing.
What is the student loan interest rate?
From 1 September 2026 to 31 August 2027, Plan 1, Plan 4 and Plan 5 loans charge 4.1% (RPI). Plan 2 charges between 4.1% and 7.1% depending on income, and Plan 2 and postgraduate loans are capped at 6% for that year.
When is my student loan written off?
Plan 1 loans taken out from 2006 are written off 25 years after you were first due to repay. Plan 2, Plan 4 and postgraduate loans are written off after 30 years, and Plan 5 after 40 years. Whatever is left is cancelled.
Should I overpay my student loan?
Only if you are likely to clear it before it is written off. Many Plan 2 and Plan 5 borrowers never repay in full, so extra payments just reduce the amount that would have been wiped. This calculator shows which group you are likely to be in.
Is the Plan 2 threshold frozen?
Yes. The Plan 2 repayment threshold rose to £29,385 in April 2026 and is frozen at that level until April 2030, so more of any pay rise goes on repayments.