If you have loans on multiple plan types, add them here for accurate combined repayment calculations.
UK Student Loan Calculator: Repayment Estimates Updated Feb 2026
Calculate Your UK Student Loan Repayments
Use our free UK student loan calculator to estimate your monthly repayments, total interest, and when your loan will be cleared. Works for Plan 1, Plan 2, Plan 4, and Postgraduate loans.
Use the Calculator NowKey Takeaways
- Income-based: You only repay when earning above the threshold
- Plan 2: Repay 9% of income above £27,295/year
- Plan 1: Repay 9% of income above £24,990/year
- Plan 4 (Scotland): Repay 9% of income above £31,395/year
- Postgraduate: Repay 6% of income above £21,000/year
- Written off: After 30 years (Plan 2) or 25 years (Plan 1)
Do you have a UK student loan and wonder how much you will repay? Our free UK student loan calculator estimates your monthly repayments, total interest costs, and when your loan will be written off. Understanding your student loan helps with financial planning.
The UK student loan system works like a graduate tax - you repay based on income, not the amount borrowed. This calculator shows what this means for your specific situation. Visit GOV.UK Student Loan Repayment for official guidance.
What Is a UK Student Loan Calculator?
A UK student loan calculator estimates your loan repayments based on your income, loan plan type, and outstanding balance. It shows when you will start repaying, monthly amounts, and total costs.
Here is what our calculator does:
- Calculates monthly repayments based on salary
- Projects total interest over the loan lifetime
- Estimates when the loan will be cleared
- Compares different income scenarios
- Shows the effect of salary increases
- Works for all UK loan plans
How to Use Our Student Loan Calculator
Follow these steps to estimate your repayments:
- Select your plan: Plan 1, Plan 2, Plan 4, or Postgraduate
- Enter current balance: Check your SLC account online
- Input salary: Your current or expected annual income
- Set growth rate: Expected salary increases (% per year)
- Calculate: See monthly payments and total costs
Example Calculation
Scenario: Plan 2 graduate with £45,000 debt
- Outstanding balance: £45,000
- Starting salary: £32,000/year
- Repayment threshold: £27,295
- Amount above threshold: £4,705
- Year 1 monthly repayment: £35/month
- Salary growth: 3% annually
- Interest rate: 6.3% (RPI + 3%)
- Estimated total repayments over 30 years: £42,000
- Loan written off after 30 years with remaining balance cleared
Despite borrowing £45,000, this graduate only repays £42,000 due to the write-off.
Understanding UK Student Loan Plans
The UK has different loan plans depending on when and where you studied.
| Plan | Applies To | Threshold (2024-25) | Rate | Written Off |
|---|---|---|---|---|
| Plan 1 | England/Wales before 2012, Scotland/N. Ireland before 1998 | £24,990 | 9% | 25 years |
| Plan 2 | England/Wales from 2012 onwards | £27,295 | 9% | 30 years |
| Plan 4 | Scotland from 1998 onwards | £31,395 | 9% | 30 years |
| Postgraduate | England/Wales Master's/Doctoral loans | £21,000 | 6% | 30 years |
Repayment Thresholds & Rates
You only repay when your income exceeds the threshold for your plan.
Example for Plan 2:
- Salary: £35,000/year
- Threshold: £27,295
- Difference: £7,705
- 9% of £7,705 = £693.45/year
- Monthly repayment = £57.79
Interest Rates Explained
| Plan | Interest Rate | 2024-25 Rate |
|---|---|---|
| Plan 1 | Lower of RPI or Bank base rate + 1% | 6.25% |
| Plan 2 | Variable: RPI to RPI + 3% depending on income | 6.3% - 9.3% |
| Plan 4 | RPI only | 6.3% |
| Postgraduate | RPI + 3% | 9.3% |
The "Graduate Tax" Mindset
Viewing your student loan as a "debt" is often misleading. Unlike a bank loan, it doesn't affect your credit score, there’s no bailiff if you lose your job, and it’s written off after 30 years (Plan 2).
It acts more like a 9% pay-as-you-go graduate tax. If you never earn enough, you never pay it back. The only "risk" is the impact on your monthly take-home pay, which our calculator helps you visualize alongside your other taxes.
Voluntary Repayments: The SLC "Trap"
Should you use a bonus or inheritance to pay off your student loan early? For most people, the answer is a firm NO.
Because the loan is written off after 30 years, any voluntary payment is essentially "gifting" money to the government that you might never have had to pay anyway. Only high earners (top 10% survivors) who are guaranteed to clear the balance before the 30-year mark should consider early repayment.
Plan 5: The "Clever" Government Shift
If you started university in September 2023 or later, you are on Plan 5. This plan is less generous than Plan 2.
The Changes: The repayment threshold is lower (£25,000) and the loan is written off after 40 years instead of 30. This means most "Plan 5" graduates will be paying back their loans well into their 60s. Use our calculator to see how these extra 10 years of payments affect your lifetime wealth.
Moving Abroad: The Threshold Cliff
If you move abroad to work, you don't stop paying. In fact, if you move to a country with a lower cost of living (like India or parts of Eastern Europe), the SLC lowers your repayment threshold.
You might find yourself paying 9% on a much smaller salary than you would in the UK. Always notify the SLC of your move, as they will apply a "Fixed Repayment" penalty of hundreds of pounds per month if you don't provide income evidence.
Frequently Asked Questions
Trusted Resources
- GOV.UK - Student Loan Repayment - Official SLC guidance
- Student Loan Repayment - Repayment information
About This Calculator
Created by: CalculatorZone UK Student Finance Team
Last Updated: February 21, 2026
Methodology: This calculator uses current SLC repayment thresholds and interest rates. Calculations follow official Student Loans Company methodology.
Student Loans Around the World
The UK's income-contingent student loan system — where you only repay when earning above a threshold — is considered one of the most progressive globally. Here's how key countries compare:
| Country | Funding Model | Repayment Type | Write-off Period |
|---|---|---|---|
| United Kingdom | Income-contingent loans | 9% above threshold | 30 years (Plan 2) |
| United States | Federal + private loans | Fixed/income-based plans | 20-25 years (IDR plans) |
| Canada | Federal + provincial loans | Income-based repayment available | No automatic write-off |
| Australia | HECS-HELP income-contingent | 1-10% above threshold | No write-off; follows lifetime |
| India | Bank loans + government subsidies | EMI-based after grace period | No automatic write-off |
Australia's HECS-HELP system is often compared to the UK's as both use income-contingent repayments. However, the UK write-off after 30 years means many lower-to-middle income graduates may never fully repay, effectively making it more like a graduate tax than a traditional loan.
Ready to Calculate Your Student Loan Repayments?
Use our free UK student loan calculator to estimate your monthly repayments and total costs.
Calculate Now