United Kingdom · Updated for 2026/27
Student loan repayment calculator 2026/27
On a £35,000 salary you repay £42.11 a month on Plan 2: 9% of your pay over £29,385. With £45,000 owed, that would not clear the loan: it would be written off in April 2054, with about £60,930 repaid in all.
Choose your plan and type your salary and what you owe. The estimate runs month by month until the loan is paid off or written off.
Plan 2 · £45,000 owed · £35,000 salary
£42.11 a month now
Written off in April 2054, with £103,135 still owed
| Interest rate now | 4.82% |
|---|---|
| Repaid in all | £60,930 |
| Interest added in all | £119,064 |
| Written off | April 2054 |
| Amount written off | £103,135 |
| Salary | Repaid | Interest | Balance after | |
|---|---|---|---|---|
| 2026/27 | £35,000 | £253 | £1,092 | £45,839 |
| 2031/32 | £40,575 | £1,007 | £2,981 | £55,006 |
| 2036/37 | £47,037 | £1,589 | £3,890 | £66,090 |
| 2041/42 | £54,529 | £2,263 | £4,586 | £77,698 |
| 2046/47 | £63,214 | £3,045 | £5,272 | £89,083 |
| 2051/52 | £73,282 | £3,951 | £5,905 | £99,486 |
| 2053/54 | £77,745 | £4,352 | £6,130 | £103,135 |
An estimate: today’s interest rate and repayment threshold are kept for every year, and your pay rises by the same share each April. Interest rates change each September.
What each plan takes from £35,000
| A month | A year | |
|---|---|---|
| Plan 1 | £60.75 | £729.00 |
| Plan 2 | £42.11 | £505.35 |
| Plan 4 | £9.04 | £108.45 |
| Plan 5 | £75.00 | £900.00 |
| Postgraduate Loan | £70.00 | £840.00 |
With two undergraduate plans you make one repayment, on pay over the lower threshold, shared between them. A Postgraduate Loan is repaid on top.
How much do I repay each month?
You repay 9% of your pay above your plan’s threshold (6% for a Postgraduate Loan), taken through payroll like tax. What you owe and the interest make no difference to the monthly amount: only your pay does. On £35,000 that is £60.75 on Plan 1, £42.11 on Plan 2, £9.04 on Plan 4, £75.00 on Plan 5, £70.00 on Postgraduate Loan.
What are the rates and rules for each plan?
| Plan | You repay | Interest, September 2026 to August 2027 | Written off |
|---|---|---|---|
| Plan 1 | 9% over £26,900 a year | 4.1% | 25 years after the April you were first due to repay |
| Plan 2 | 9% over £29,385 a year | 4.1% on income up to £29,385, rising to 6% from £52,885 | 30 years after the April you were first due to repay |
| Plan 4 | 9% over £33,795 a year | 4.1% | 30 years after the April you were first due to repay |
| Plan 5 | 9% over £25,000 a year | 4.1% | 40 years after the April you were first due to repay |
| Postgraduate Loan | 6% over £21,000 a year | 6% | 30 years after the April you were first due to repay |
Plan 1 interest is the lower of RPI and a rate linked to the Bank of England base rate; Plans 4 and 5 charge RPI. Plan 2 and the Postgraduate Loan add up to 3% on top of RPI, with a cap of 6% for this year. Plan 1 loans taken out before September 2006, and older Plan 4 loans, are written off under a different rule, linked to your age. GOV.UK sets out when a student loan gets written off.
Will my loan be paid off or written off?
It depends on how your repayments compare with the interest. On a high salary, repayments outrun the interest and the loan is cleared. On a lower salary, the interest can be more than you repay, and the balance grows until the loan is written off. Many borrowers never clear the full balance: the write-off is part of how the loans work.
This is an estimate. It keeps this year’s interest rates and thresholds for every later year, and raises your pay by the same share each April. In real life interest rates change each September. Most thresholds rise each April, but the Plan 2 threshold is frozen at £29,385 for three years from April 2027. To see how a pay rise changes your repayments now, try the pay rise calculator.
What else can I work out?
- Pay rise calculator The extra take-home from a rise, and how much of it goes in tax, NI and loans.
- Salary sacrifice calculator Pension by salary sacrifice, net pay or relief at source: take-home and pension compared.
- Bonus tax calculator How much of a bonus you keep, the bonus month payslip, and the 60% trap.
- Salary calculator Take-home pay on any salary, with tax codes, Scotland, pensions and student loans.
Every UK tool on one page: salary and tax tools. How the rules work: UK pay and tax guides.
Questions about student loans
How much is the Plan 2 threshold for 2026/27?
£29,385 a year. You repay 9% of anything you earn above it. The other thresholds are in the table above, and on our student loan repayments guide.
When does a student loan get written off?
Plan 1 after 25 years, Plan 2 after 30 years, Plan 4 after 30 years, Plan 5 after 40 years, Postgraduate Loan after 30 years, counted from the April you were first due to repay. Anything still owed then is cancelled. Older Plan 1 and Plan 4 loans follow a different rule.
What interest rate is charged on my student loan?
From September 2026 to August 2027: 4.1% on Plan 1, 4.1% on Plan 4, 4.1% on Plan 5, 4.1% to 6% on Plan 2 depending on your income, and 6% on a Postgraduate Loan. Rates change each September, and can change during the year.
Do I repay anything if I earn under the threshold?
No. Nothing is taken until you earn over your plan’s threshold. Interest is still added to the balance.
Should I pay off my student loan early?
This calculator can’t tell you, and it isn’t advice. If the estimate shows the loan being written off, paying extra may never save you money. If it shows it being paid off, extra payments cut the interest. Check your real balance with the Student Loans Company first.