Student Loan Repayment Calculator UK
Calculate estimated repayments for Plan 1, Plan 2, Plan 4, and Postgraduate student loans based on your annual income.
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Annual Repayment
Monthly: £0
Note: Thresholds change annually. This is an estimate based on current rates.
Frequently Asked Questions
There are four main student loan plans in the UK. Plan 1 is for English and Welsh students who started before September 2012, and all Northern Irish students. Plan 2 is for English and Welsh students who started after September 2012. Plan 4 is for Scottish students. Postgraduate loans are available for students undertaking masters degrees or doctoral study. Each plan has different repayment thresholds and terms.
For Plans 1, 2, and 4, you repay 9% of your income above the threshold. For Postgraduate loans, you repay 6% above the threshold. For example, if you earn £35,000 on Plan 2 (threshold £27,295), you repay 9% of £7,705 = £693.45 per year or about £58 per month. Repayments are automatically deducted through PAYE if you're employed, or through Self Assessment if self-employed.
For the 2024/25 tax year, the repayment thresholds are: Plan 1 - £22,015 per year (£1,834.58 per month), Plan 2 - £27,295 per year (£2,274.58 per month), Plan 4 - £32,397 per year (£2,699.75 per month), and Postgraduate - £21,000 per year (£1,750 per month). You only start repaying when your income exceeds these thresholds.
Student loans are written off after a certain period, regardless of how much you've repaid. Plan 1 loans are written off when you reach 65 or 25 years after the April you were first due to repay (whichever comes first). Plan 2 loans are written off 30 years after the April you were first due to repay. Plan 4 loans are also written off after 30 years. Postgraduate loans are written off 30 years after the April you were first due to repay.
No, student loans don't appear on your credit file and don't directly affect your credit score. They're collected through the tax system rather than as a conventional loan, and missed payments don't result in default marks. However, lenders may consider your student loan repayments when assessing affordability for mortgages or other credit, as they reduce your disposable income.
Yes, you can make voluntary extra payments to pay off your student loan early with no early repayment penalty. However, this may not be the best financial decision for most borrowers. Since the loan is written off after a set period and repayments are income-contingent, many people will never repay their loan in full. Consider whether the money could earn better returns elsewhere or pay off higher-interest debt first.