Student Loan Calculator
Calculate your student loan repayments for 2026/27
Last updated: August 2026 · 2026/27 thresholds
Your Details
Your gross annual income
Loan Type
Not sure? Check when you started:
- • Before Sept 2012: Plan 1
- • Sept 2012 onwards (England/Wales): Plan 2
- • Sept 2023 onwards: Plan 5
- • Scotland: Plan 4
Loan Balances
Masters/PhD loan
Leave blank to use the official rate (3.9% for Plan 2 at your income). Rates reset each September.
Total Monthly Repayment
£42
Taken before you're paid (via PAYE)
Per Year
£505
Repayment Breakdown
Write-Off & Repayment Timeline
Write-off Period
30 years
From April after you finish course
Interest Rate
3.9%
1 September 2025 to 31 August 2026 · tiered by income
✓ Loan Likely to Be Written Off
At your current salary, you'll pay approximately £15,161over 30 years. Remaining balance will be written off.
Projected Balance Over Time
* Assumes constant salary. Interest at 3.9%. Balance grows with interest faster than repayments at lower salaries.
Plan Comparison
| Plan | Threshold | Rate | Write-off | Your Payment |
|---|---|---|---|---|
| Plan 1 | £26,900 | 9% | 25y | £61 |
| Plan 2 | £29,385 | 9% | 30y | £42 |
| Plan 4 | £33,795 | 9% | 30y | £9 |
| Plan 5 | £25,000 | 9% | 40y | £75 |
Understanding Student Loans
Quick Guide
Plan 1: Started undergraduate course before September 2012 in England or Wales, or any time in Northern Ireland
Plan 2: Started undergraduate course between September 2012 and July 2023 in England or Wales
Plan 4: Living in Scotland when course started (any year)
Plan 5: Started undergraduate course from September 2023 onwards in England or Wales
Postgraduate: Masters or Doctoral loan from any UK nation
Not Sure?
Check your loan details on gov.uk/sign-in-to-your-student-loan-account or contact Student Loans Company on 0300 100 0611.
Automatic Deduction
Repayments are taken automatically from your salary before you're paid (via PAYE), just like tax and National Insurance.
- • You only pay when earning above the threshold
- • You pay 9% of income above threshold (6% for postgraduate)
- • Repayments stop if income drops below threshold
- • Self-employed? Payments made via Self Assessment
Example: Plan 2
Salary: £35,000
Threshold: £29,385
Above threshold: £5,615
Monthly repayment: 9% × £5,615 ÷ 12 = £42
With Postgraduate Too
Salary: £35,000
Plan 2: £42/month
Postgrad (6% × £14,000 ÷ 12): £70/month
Total: £112/month
Tax year 2026/27 (6 April 2026 - 5 April 2027) | Thresholds and rates subject to annual review
Related calculators
Other free UK tools that follow on from this calculation.
Salary Calculator
Annual, monthly and weekly take-home pay after PAYE, NI, pension and student loan.
Income Tax Calculator
PAYE tax, National Insurance and take-home pay for any UK salary, including Scotland.
Self-Assessment Calculator
Self-employment tax including Class 4 NI at 6% and the payment-on-account schedule.
Reviewed by
Alexandre Bernier, LLM (UK), CFP®, CIM®, PFP®. Financial planner with 18 years in banking and wealth management, holding a UK master of laws and the Canadian CFP®, CIM® and PFP® designations. Writes and reviews every calculator and article on FinanceToolz.
Last updated: August 2026. How figures are sourced, reviewed and corrected is set out in our editorial policy. This is general information, not regulated financial advice.
Sources
Every rate and threshold used by this calculator is taken from the official pages below. If a figure here disagrees with one of these, the official page is right, please tell us.