2026/27 figures checked 29 Sept 2026 · First instalments are landing now – see payment dates

Student Loan Repayment Calculator (UK)

You repay 9% of everything you earn above your plan’s threshold – £25,000 a year on Plan 5, £29,385 on Plan 2, £26,900 on Plan 1 and £33,795 on Plan 4 (6% above £21,000 for Postgraduate loans). Earn less and you pay nothing.

Figures checked 29 September 2026By Ashish YadavHow we calculate

Monthly repayment in year one

£37.50a month

9% of income over £25,000 a year (£2,083 a month).

Total repaid£114k

Interest added£130k

Written off£71kin 2070

BalanceTotal repaid

You repay £113,583 over 40 years and £71,159 is written off in 2070.

Year-by-year table

Year	Salary	Repaid	Interest	Balance
2030	£30,000	£450	£2,289	£56,839
2031	£30,900	£531	£2,365	£58,673
2032	£31,827	£614	£2,440	£60,498
2033	£32,782	£700	£2,514	£62,312
2034	£33,765	£789	£2,588	£64,112
2035	£34,778	£880	£2,662	£65,893
2036	£35,822	£974	£2,734	£67,654
2037	£36,896	£1,071	£2,806	£69,389
2038	£38,003	£1,170	£2,877	£71,096
2039	£39,143	£1,273	£2,946	£72,769
2040	£40,317	£1,379	£3,014	£74,405
2041	£41,527	£1,487	£3,080	£75,997
2042	£42,773	£1,600	£3,145	£77,543
2043	£44,056	£1,715	£3,207	£79,035
2044	£45,378	£1,834	£3,267	£80,468
2045	£46,739	£1,957	£3,325	£81,836
2046	£48,141	£2,083	£3,379	£83,133
2047	£49,585	£2,213	£3,431	£84,351
2048	£51,073	£2,347	£3,480	£85,484
2049	£52,605	£2,484	£3,524	£86,524
2050	£54,183	£2,627	£3,565	£87,462
2051	£55,809	£2,773	£3,601	£88,291
2052	£57,483	£2,923	£3,633	£89,001
2053	£59,208	£3,079	£3,660	£89,582
2054	£60,984	£3,239	£3,681	£90,024
2055	£62,813	£3,403	£3,696	£90,318
2056	£64,698	£3,573	£3,706	£90,450
2057	£66,639	£3,747	£3,708	£90,411
2058	£68,638	£3,927	£3,703	£90,186
2059	£70,697	£4,113	£3,690	£89,763
2060	£72,818	£4,304	£3,668	£89,128
2061	£75,002	£4,500	£3,638	£88,266
2062	£77,252	£4,703	£3,598	£87,161
2063	£79,570	£4,911	£3,548	£85,798
2064	£81,957	£5,126	£3,487	£84,159
2065	£84,416	£5,347	£3,414	£82,226
2066	£86,948	£5,575	£3,329	£79,980
2067	£89,557	£5,810	£3,231	£77,401
2068	£92,244	£6,052	£3,119	£74,468
2069	£95,011	£6,301	£2,991	£71,159

Assumes the threshold and interest rate stay the same. In reality both can change each year.

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Repayment plans at a glance

Plan	Who’s on it	Threshold	Rate	Interest now	Written off after
Plan 5	England, started from Aug 2023	£25,000	9%	4.1%	40 years
Plan 2	England/Wales, started 2012–2023	£29,385	9%	4.1% – 6%	30 years
Plan 1	Older England/Wales loans, NI	£26,900	9%	4.1%	25 years
Plan 4	Scotland	£33,795	9%	4.1%	30 years
Postgraduate	Master’s and PhD loans	£21,000	6%	6%	30 years

Plan 2 interest depends on your income and is capped at 6% for 2026/27.

Monthly example

On Plan 5 with a salary of £32,000: (£32,000 − £25,000) × 9% = £630 a year, or £52.50 a month, taken through PAYE.

Should you pay it off early?

Only if you’re likely to clear the balance before write-off. Many Plan 5 borrowers never repay in full, so extra payments can simply reduce what gets written off. The calculator shows whether you’re on track to clear it.

Frequently asked questions

How much will I repay on Plan 5?

9% of income above £25,000 a year. On £30,000 that’s £450 a year, or £37.50 a month.

When are student loans written off?

Plan 5 after 40 years, Plan 2 and Plan 4 after 30 years, Plan 1 (post-2006 loans) after 25 years – counted from the April you were first due to repay.

Do I repay if I earn under the threshold?

No. Repayments stop automatically whenever your income is below the threshold, and interest still builds up.