Student Loan Repayment Calculator UK 2025/26
Find out your monthly repayments, estimated total repaid, interest charged, and when your loan will be written off — for all UK student loan plans.
Projected Repayment Over Time
Student Loan Repayment Thresholds 2025/26
You only repay your student loan when your income exceeds the repayment threshold for your plan. Below the threshold, no repayments are taken regardless of your loan balance. The thresholds are reviewed each April.
| Plan | Who It Applies To | 2025/26 Threshold | Repayment Rate | Write-Off Period |
|---|---|---|---|---|
| Plan 1 | Started before Sept 2012 (England/Wales) or before Sept 2006 (NI) | £24,990/yr | 9% | 25 years or age 65 |
| Plan 2 | Started Sept 2012–July 2023 (England) | £27,295/yr | 9% | 30 years after graduation |
| Plan 4 | Scotland | £31,395/yr | 9% | 30 years or age 65 |
| Plan 5 | Started Aug 2023 onwards (England) | £25,000/yr | 9% | 40 years after graduation |
| Postgraduate | Master’s or Doctoral loans | £21,000/yr | 6% | 30 years after graduation |
How Student Loan Repayments Are Calculated
Your repayment is simply 9% of everything you earn above the threshold — nothing below it. The threshold acts as a floor, not a taper. If you earn £30,000 on Plan 2 (threshold £27,295), you repay 9% of the £2,705 difference — that’s £243.45 per year, or just over £20 per month. Repayments are deducted automatically through PAYE alongside income tax and National Insurance.
Student Loan Interest Rates
Interest accrues on your student loan balance throughout your studies and repayment period. The rate depends on your plan and, for Plan 2, your income level.
| Plan | Interest Rate |
|---|---|
| Plan 1 | Lower of RPI or Bank of England base rate + 1% |
| Plan 2 (while studying or income below threshold) | RPI + 3% |
| Plan 2 (income £27,295–£49,130) | RPI scaling up to RPI + 3% |
| Plan 2 (income above £49,130) | RPI + 3% |
| Plan 4 | Lower of RPI or Bank of England base rate + 1% |
| Plan 5 | RPI only |
| Postgraduate Loan | RPI + 3% |
Will My Student Loan Be Written Off?
For the majority of Plan 2 borrowers — who typically graduate with £45,000–£60,000 of debt — the loan will be written off after 30 years with a significant balance remaining. Research by the Institute for Fiscal Studies has consistently found that only around 25% of Plan 2 borrowers are expected to repay their loans in full before write-off. The remaining 75% will have some or all of their loan cancelled at the 30-year mark.
Plan 5 borrowers face a longer 40-year write-off window, which means more total repayments before cancellation. The lower interest rate on Plan 5 partially offsets this.
Should You Overpay Your Student Loan?
Voluntary overpayments reduce your balance and future interest charges, but they only make financial sense if you are on track to repay the full amount before write-off. For most Plan 2 and Plan 5 borrowers with significant balances, overpaying means repaying money that would otherwise have been written off — making overpayments a poor use of funds for the majority.
Higher earners with smaller balances — especially Plan 1 borrowers — are more likely to benefit from voluntary overpayments, as their loan will be cleared before the write-off date in any case. If in doubt, use this calculator to model whether your current balance and salary trajectory puts you on track for full repayment.
Plan 2 vs Plan 5 — Key Differences
Students starting undergraduate courses in England from August 2023 are on Plan 5, which replaced Plan 2. The key differences are that Plan 5 has a lower repayment threshold (£25,000 vs £27,295), charges interest at RPI only rather than up to RPI plus 3%, and has a 40-year write-off period rather than 30 years. The net effect is that Plan 5 borrowers repay more in total, particularly those with lower to middle incomes who will repay for longer before write-off.