Borrowing/Student Loan Calculator

How much student loan will I repay?

Estimate repayments, interest, and write-off risk using separate tax-year thresholds and academic-year interest rules.

Estimated repayment

£42 / month

£505 per year · based on £35,000 salary under Plan 2

Likely to be partly written off
Total repaid £34,779
Yearly repayment £505
Interest added £35,962
Written off £26,183

Loan balance over time

Yearly projection breakdown

Year Salary Repaid Interest Closing balance
Year 1 £35,000 £505 £988 £25,482
Year 2 £35,700 £568 £1,029 £25,943
Year 3 £36,414 £633 £1,071 £26,382
Year 4 £37,142 £698 £1,113 £26,797
Year 5 £37,885 £765 £1,156 £27,188
Year 6 £38,643 £833 £1,199 £27,553
Year 7 £39,416 £903 £1,241 £27,892
Year 8 £40,204 £974 £1,284 £28,203
Year 9 £41,008 £1,046 £1,327 £28,484
Year 10 £41,828 £1,120 £1,369 £28,733
Year 11 £42,665 £1,195 £1,411 £28,949
Year 12 £43,518 £1,272 £1,453 £29,130
Year 13 £44,388 £1,350 £1,493 £29,273
Year 14 £45,276 £1,430 £1,533 £29,376
Year 15 £46,182 £1,512 £1,571 £29,436
Year 16 £47,105 £1,595 £1,608 £29,449
Year 17 £48,047 £1,680 £1,643 £29,412
Year 18 £49,008 £1,766 £1,676 £29,322
Year 19 £49,989 £1,854 £1,706 £29,173
Year 20 £50,988 £1,944 £1,732 £28,961
Year 21 £52,008 £2,036 £1,729 £28,655
Year 22 £53,048 £2,130 £1,708 £28,233
Year 23 £54,109 £2,225 £1,679 £27,687
Year 24 £55,191 £2,323 £1,643 £27,007
Year 25 £56,295 £2,422 £1,598 £0

Estimates use the selected repayment-threshold tax year and selected interest-rules academic year, with salary growth applied once per projection year.

Results are illustrative only and do not account for future policy changes, employment gaps, bonus timing, or other specialist adjustments.

How student loan repayments work in the UK

Student loan deductions are based on your earnings above a plan threshold, not your total salary. Repayments are usually collected through payroll, and the percentage rate depends on your loan plan.

Tax year thresholds vs academic year interest

Repayment thresholds normally change each tax year from April, while student loan interest rates are usually set for an academic-year period running from 1 September to 31 August. This calculator separates those two rule sets so you can see which one affects current deductions and which one affects projected interest.

Plan 1 vs Plan 2 vs Plan 4 vs Plan 5

The plans differ by repayment threshold, write-off term, and interest method. This calculator lets you compare outcomes under each undergraduate plan using the same salary and balance assumptions.

How postgraduate loan repayments work

Postgraduate repayments are separate from undergraduate repayments. If you have both, deductions stack together, so total monthly repayments are higher than either loan alone.

This calculator lets you add multiple loan cards, including postgraduate loans. If you hold more than one undergraduate plan, official allocation rules can still affect how payments are split.

How interest is added

Interest is modelled monthly for projection purposes. Plan 2 uses an income-linked rate, while other plans use flat rates in this ruleset. The model is data-driven by academic year.

What the 2026/27 6% cap means

For 2026/27, this calculator applies the announced 6% interest cap to Plan 2 and Postgraduate interest. This is handled as a year-specific cap, not a permanent flat rate for future years.

When student loans are written off

Any remaining balance is cancelled at the write-off point. The default write-off term in this calculator is 25 years (Plan 1), 30 years (Plan 2), 30 years (Plan 4), 40 years (Plan 5), and 30 years (Postgraduate).

What this calculator assumes

Projections use the selected tax-year repayment thresholds and academic-year interest rates. Salary growth is applied once per year at the rate you enter, and interest is compounded monthly on the outstanding balance.

The calculator does not account for periods of non-employment, overseas income rules, voluntary overpayments, or changes to government policy after the selected year. If you hold multiple undergraduate plans, official allocation rules can affect how repayments are split between accounts.

Frequently Asked Questions

How accurate is this student loan calculator?

It provides an estimate using the selected tax-year repayment thresholds and academic-year interest rules. Real outcomes can differ if your income pattern, loan terms, or government policy changes.

Why are there separate tax year and academic year selectors?

Repayment thresholds normally update in April, while interest rates are usually set from September to August. Splitting these helps show which rules control your current deduction and which rules control projected interest.

Does this include salary growth?

Yes. Salary growth is applied once per projection year using the rate you enter.

Can I model more than one undergraduate plan?

Yes. Add a loan card for each plan or postgraduate loan you repay. The projection is illustrative, so check official Student Loans Company information if your repayments are split between multiple undergraduate plans.

Are long-term outputs guaranteed?

No. Totals for repaid amount, interest, and write-off are estimates based on assumptions and current rules.

More UK Financial Calculators

See how student loan repayments fit alongside your other finances with the calculators below. If you want to see how pension salary sacrifice could change your loan deductions, use our Salary Sacrifice Calculator too. If you need a gross salary and hourly conversion first, use our Salary to Hourly Calculator. If you are checking a lower-paid role, the Minimum Wage Calculator can help you compare the hourly rate with the legal minimum.

Salary Calculator → Salary Sacrifice Calculator → Salary to Hourly Calculator → Minimum Wage Calculator → Mortgage Calculator → Loan Calculator → Stamp Duty Calculator →