UK Student Loan Repayment Calculator
See what comes off your pay each month for a Plan 1, 2, 4 or 5 student loan, with or without a Postgraduate Loan.
How it works#
You repay a percentage of what you earn above a threshold, and nothing below it: 9% for Plan 1, 2, 4 and 5, and 6% for a Postgraduate Loan. If you have both an undergraduate loan and a Postgraduate Loan, both are taken at once, so tick the box to see the combined figure.
Repayments start the April after you leave your course, and only once your pay is over the threshold. Interest and write-off dates differ by plan but do not change what comes out of your pay each month.
How long will it take?#
Interest does not change what comes out of your pay, but it does change how long the loan lasts. If you add your balance and interest rate, the calculator projects how long repayment takes at your current pay, or how much would be written off if it never clears. Both figures are on your Student Loans Company account, and rates are reset each September. Leave the rate blank and interest is ignored, which understates the time and the total.
It is a projection, not a forecast: it assumes your pay and the thresholds never change, so a pay rise or a threshold increase will shift the answer. The write-off period (25 years for Plan 1, 30 for Plan 2, Plan 4 and Postgraduate Loans, 40 for Plan 5) is counted from today, whereas the real clock started the April after you were first due to repay. Plan 1 borrowers who started before September 2006 are written off at 65 instead, which this does not model.
Not sure which plan you are on?#
It depends on where you applied for student finance and when your course started, not where you live now. Your plan is shown in your Student Finance account, and usually on your payslip. Our guide to how Plan 1, 2, 4 and 5 compare explains the differences.
If you are self-employed, nothing is deducted automatically: the amount goes on your Self Assessment return instead.