Student Loan Repayment Calculator UK 2026/27: Estimate Your Deductions
This student loan repayment calculator shows what comes off your pay for Plan 1, 2, 4, 5 and the Postgraduate Loan in 2026/27, and whether you are likely to clear the balance before it is written off. You repay 9% of pay above your plan's threshold (6% for postgraduate), so on £35,000 a Plan 2 graduate repays £42 a month.
Updated . Built and checked by My Easy Calculator against HMRC 2026/27 thresholds and the Student Loans Company interest rates from 1 September 2026. How we check figures
| Repayment thresholds, 2026/27 | |
| Plan 1 | £26,900 |
| Plan 2 | £29,385 |
| Plan 4 (Scotland) | £33,795 |
| Plan 5 | £25,000 |
| Postgraduate (6%) | £21,000 |
| Interest from 1 September 2026 | |
| Plans 1, 4 and 5 | 4.1% |
| Plan 2 | 4.1% to 6% |
| Postgraduate | 6% |
Calculate your student loan repaymentsPayslip deduction for 2026/27, plus when your loan is cleared or written off
- 2026/27 thresholds
- Checked
Balance, write-off and overpayingSee when your loan clears or is written off
Your repayments Plan 2
Clear or written off?
See year by year
| Tax year | Repaid | Interest | Balance |
|---|
Figures update as you type. Your payslip and Student Loans Company account show your actual deductions and balance.
On a £35,000 salary paid monthly, Plan 2 takes 9% of pay above £2,448.75 a month: £2,916.67 minus £2,448.75 is £467.92, and 9% of that is £42.11, which payroll rounds down to £42. That is £504 a year, against an exact £505.35 (9% of £5,615).
Which student loan plan am I on?
Answer two questions. Your Student Loans Company account confirms it.
Your plan appears here.
Every plan on one salary
Monthly deduction for each plan, to compare or check a payslip.
Student loan thresholds and rates 2026/27 at a glance
In 2026/27 you repay 9% of pay above £26,900 on Plan 1, £29,385 on Plan 2, £33,795 on Plan 4 and £25,000 on Plan 5, plus 6% above £21,000 on a Postgraduate Loan. Interest from 1 September 2026 is 4.1% on Plans 1, 4 and 5, and between 4.1% and 6% on Plan 2 and postgraduate loans.
| Plan | Yearly threshold | Monthly | Weekly | Repay | Interest | Written off after |
|---|---|---|---|---|---|---|
| Plan 1 | £26,900 | £2,241.66 | £517.30 | 9% | 4.1% | 25 years (or age 65, older loans) |
| Plan 2 | £29,385 | £2,448.75 | £565.09 | 9% | 4.1% to 6% | 30 years |
| Plan 4 | £33,795 | £2,816.25 | £649.90 | 9% | 4.1% | 30 years (or age 65) |
| Plan 5 | £25,000 | £2,083.33 | £480.76 | 9% | 4.1% | 40 years |
| Postgraduate | £21,000 | £1,750.00 | £403.84 | 6% | 6% | 30 years |
How much student loan will I repay?
On a £35,000 salary paid monthly you repay £42 a month on Plan 2, £60 on Plan 1, £75 on Plan 5, £9 on Plan 4 and £70 on a Postgraduate Loan. Below your plan's threshold you repay nothing. The amount depends only on what you earn, not on how much you borrowed.
How student loan repayments are calculated
Student loan repayments are 9% of your pay above your plan's threshold, or 6% for a Postgraduate Loan, not 9% of your whole salary. Your employer works it out each pay day using the threshold for that pay period, and the result is rounded down to the whole pound.
Deduction = (pay this period minus period threshold) x 9%, rounded down. For Plan 2 paid monthly, the threshold is £29,385 / 12 = £2,448.75. On £2,916.67 a month: (£2,916.67 minus £2,448.75) x 9% = £42.11, so £42 is deducted.
Each pay period is worked out on its own, so a month with a bonus or overtime takes more, and a month below the threshold takes nothing, even if your yearly pay is above it. If you have both an undergraduate plan and a Postgraduate Loan, both are taken together: 15% of pay above the thresholds on most salaries.
The self-employed repay through Self Assessment on profit above the threshold, along with any unearned income over £2,000, such as savings interest or rent.
How to use the student loan calculator
The student loan calculator needs your salary, pay frequency and plan. Add your balance to see whether you will clear the loan or have it written off.
- Enter your gross salary before tax and choose how often you are paid. Weekly, fortnightly and four-weekly pay give slightly different yearly totals.
- Select your plan from your payslip or Student Loans Company account. The plan finder below the calculator helps if you are not sure.
- Add a Postgraduate Loan if you have one; it is repaid at the same time as your undergraduate loan.
- Read your deduction per pay period and per year, which is what you will see on your payslip.
- Add your balance and the April you were first due to repay to project total repayments, interest and any amount written off.
- Try a voluntary payment to see whether overpaying saves money or simply reduces the amount written off.
Student loan repayment examples by salary
Student loan repayments rise by £7.50 a month for every £1,000 of salary above your threshold, or £5 on a Postgraduate Loan. The table shows monthly payroll deductions for 2026/27.
| Salary | Plan 1 | Plan 2 | Plan 4 | Plan 5 | Postgraduate |
|---|---|---|---|---|---|
| £20,000 | £0 | £0 | £0 | £0 | £0 |
| £25,000 | £0 | £0 | £0 | £0 | £20 |
| £27,000 | £0 | £0 | £0 | £15 | £30 |
| £30,000 | £23 | £4 | £0 | £37 | £45 |
| £35,000 | £60 | £42 | £9 | £75 | £70 |
| £40,000 | £98 | £79 | £46 | £112 | £95 |
| £45,000 | £135 | £117 | £84 | £150 | £120 |
| £50,000 | £173 | £154 | £121 | £187 | £145 |
| £60,000 | £248 | £229 | £196 | £262 | £195 |
| £80,000 | £398 | £379 | £346 | £412 | £295 |
| £100,000 | £548 | £529 | £496 | £562 | £395 |
Just over the threshold: £30,000
£30,000 / 12 = £2,500 a month. £2,500 minus £2,448.75 = £51.25; 9% is £4.61, rounded down to £4. Over a year that is £48, against £55.35 exact.
Plan 5 on £35,000
The lower £25,000 threshold means more is repaid: (£2,916.67 minus £2,083.33) x 9% = £75.00 a month, £900 a year. Plan 2 on the same pay is £42.
Plan 2 and Postgraduate on £45,000
Plan 2: (£3,750 minus £2,448.75) x 9% = £117. Postgraduate: (£3,750 minus £1,750) x 6% = £120. Together £237 a month, 15% of pay above the thresholds.
Plan 1 on £28,000, paid weekly
£28,000 / 52 = £538.46 a week; minus the £517.30 weekly threshold leaves £21.16, and 9% is £1.90, rounded down to £1. That is £52 a year, against £99 exact (9% of £1,100).
Scottish graduate on £40,000
Plan 4 has the highest threshold: (£3,333.33 minus £2,816.25) x 9% = £46.53, so £46 a month, £558.45 a year exactly.
Plan 2, £45,000 balance, £60,000 salary
On our assumptions this borrower repays the most of any salary in the table and clears the loan in March 2047, five years before write-off.
UK student loan repayment plans explained
Your repayment plan depends on where your loan came from and when your course started, not on where you live now. Most people have one undergraduate plan, and some also have a Postgraduate Loan.
| Plan | Who it covers |
|---|---|
| Plan 1 | English or Welsh students who started before 1 September 2012; all Northern Ireland students |
| Plan 2 | English students who started between 1 September 2012 and 31 July 2023; Welsh students from 1 September 2012 |
| Plan 4 | Scottish students with loans from Student Awards Agency Scotland |
| Plan 5 | English students who started an undergraduate course on or after 1 August 2023 |
| Postgraduate Loan | Master's or Doctoral loans from Student Finance England or Wales |
Which student loan plan am I on?
Your plan is shown on your payslip or P60 and in your Student Loans Company online account. As a rule, English students who started before September 2012 are on Plan 1, from September 2012 to July 2023 Plan 2, and from August 2023 Plan 5. Welsh students from 2012 are on Plan 2, Scottish students on Plan 4 and Northern Ireland students on Plan 1. Use the plan finder above to check.
Will you repay your student loan before it is written off?
Most Plan 2 and Plan 5 borrowers on average salaries will not repay in full before write-off, so for them the loan works like a 9% charge on earnings above the threshold for 30 or 40 years. Total repayments rise with salary up to a point, then fall again, because high earners clear the balance quickly and pay less interest.
| Starting salary | Total repaid | Interest added | Written off | Cleared |
|---|---|---|---|---|
| £27,000 | £346.56 | £92,830.77 | £137,484.21 | Written off April 2052 |
| £30,000 | £10,300.09 | £99,248.42 | £133,948.33 | Written off April 2052 |
| £35,000 | £27,387.07 | £102,434.05 | £120,046.98 | Written off April 2052 |
| £40,000 | £44,472.97 | £98,227.32 | £98,754.35 | Written off April 2052 |
| £50,000 | £78,646.09 | £72,092.59 | £38,446.50 | Written off April 2052 |
| £60,000 | £83,188.18 | £38,188.18 | £0.00 | Mar 2047 |
| £70,000 | £69,561.39 | £24,561.39 | £0.00 | Mar 2041 |
| £80,000 | £63,116.80 | £18,116.80 | £0.00 | Jan 2038 |
On these assumptions, a £60,000 earner repays the most, £83,188.18, more than someone on £80,000. Plan 5's 40-year term changes the picture: on a £50,000 balance, a £45,000 earner repays about £79,264 and clears it by the end of 2054, while a £30,000 earner has about £108,748 written off.
Should you overpay your student loan?
Overpaying only saves money if you would otherwise clear the loan before write-off. If you would not, every extra pound simply reduces the amount written off, and you pay more in total.
| Starting salary | Extra a month | Total repaid, no extra | Total repaid, with extra | Effect |
|---|---|---|---|---|
| £40,000 | £200 | £44,472.97 | £71,695.43 | Costs £27,222.46 more |
| £50,000 | £300 | £78,646.09 | £60,484.31 | Saves £18,161.78 |
| £60,000 | £100 | £83,188.18 | £68,184.58 | Saves £15,003.60 |
| £60,000 | £200 | £83,188.18 | £61,361.33 | Saves £21,826.85 |
| £80,000 | £200 | £63,116.80 | £55,995.16 | Saves £7,121.64 |
Use the voluntary payment box in the calculator to test your own numbers. Before overpaying, most people are better off clearing expensive debts, building savings or taking any pension contributions their employer matches.
Student loan interest rates 2026/27
Student loan interest is based on the Retail Prices Index (RPI) from the previous March, which was 4.1% in March 2026. The rates below apply from to , and interest is added to your balance monthly.
| Plan | How it is set | Rate |
|---|---|---|
| Plan 1 | Lower of RPI or Bank Rate + 1% (4.75%) | 4.1% |
| Plan 2 while studying | RPI + 3%, capped | 6% |
| Plan 2 after leaving | RPI to RPI + 3% by income, capped | 4.1% to 6% |
| Plan 4 | Lower of RPI or Bank Rate + 1% | 4.1% |
| Plan 5 | RPI | 4.1% |
| Postgraduate Loan | RPI + 3%, capped | 6% |
Plan 2 interest depends on income after you leave your course: RPI if you earn £29,385 or less, rising on a sliding scale to RPI plus 3% at £52,885 or more. The government capped Plan 2 and postgraduate interest at 6% for 2026/27, announced on , so nobody pays the full 7.1%. Interest does not change your monthly repayment, only your balance.
Why your payslip may differ
Your payslip may differ from a yearly calculation because deductions are worked out each pay period and rounded down. On £35,000, Plan 2 takes £504 a year if you are paid monthly but £468 if paid weekly, against an exact £505.35.
| Paid | Threshold per period | Deduction | Over the year |
|---|---|---|---|
| Monthly | £2,448.75 | £42 | £504 |
| Every 4 weeks | £2,260.38 | £38 | £494 |
| Every 2 weeks | £1,130.19 | £19 | £494 |
| Weekly | £565.10 | £9 | £468 |
| Exact yearly (9% of £5,615) | £29,385.00 | £505.35 |
Other reasons include bonuses or overtime in one pay period, two jobs (each employer uses the full threshold, so you may repay less than expected during the year), changing plan or starting mid-year, and your employer using the wrong plan type. If too much is taken in a tax year, you can ask the Student Loans Company for a refund.
What changed for student loans in 2026
Thresholds for 2026/27 rose for Plan 1 to £26,900, Plan 2 to £29,385 and Plan 4 to £33,795 from , while Plan 5 stayed at £25,000 and the postgraduate threshold at £21,000. On the government capped Plan 2 and postgraduate interest at 6% for the 2026/27 academic year.
Looking ahead, the Student Loans Company confirmed on that the Plan 1 threshold rises to £28,005 from . The Plan 2 threshold is due to be frozen at £29,385 for three years from April 2027, so as pay rises, Plan 2 graduates will repay a little more each year.
Self-employment, two jobs and refunds
If you are self-employed, you repay through your Self Assessment tax return on profit above your plan's threshold, paid with your tax bill. With two jobs, each employer deducts based only on your pay from them, so you may repay less during the year; if your total income is over the threshold, HMRC may collect the rest through Self Assessment.
You can claim a refund if deductions were taken in a tax year when your total income was below the threshold, if you were not yet due to start repaying, or if you have repaid more than you owe. Contact the Student Loans Company, who will usually pay it back with any interest due.
How we calculate your estimate
The payslip figure uses the 2026/27 thresholds from HMRC, divides them by your number of pay periods, applies 9% or 6% to pay above the period threshold and rounds down to the whole pound, as payroll does. The exact yearly figure applies the same rate to your yearly salary above the yearly threshold.
The balance projection runs month by month from next month. It uses the 2026/27 interest rates until August 2027, then your RPI assumption, grows your salary by your chosen rate, freezes the Plan 2 threshold to 2029/30, uses £28,005 for Plan 1 in 2027/28, and raises thresholds with RPI after that. It ignores the age-65 write-off on older loans, career breaks and one-off bonuses.
The projection depends on assumptions about future pay, RPI and thresholds, which will change. Your Student Loans Company account shows your real balance; treat the projection as a guide, not a forecast.
Common student loan mistakes
The most common student loan mistake is thinking you repay 9% of your whole salary. These are the others that cause confusion or cost money.
- Applying 9% to the whole salary. On £35,000 that would be £3,150, against £505.35 actually due on Plan 2.
- Overpaying a loan that would be written off. It increases what you pay in total.
- Ignoring the wrong plan on your payslip. Plan 1 instead of Plan 2 takes more each month; tell your employer.
- Forgetting the postgraduate loan. It adds 6% above £21,000 on top of your undergraduate plan.
- Not updating your details after moving abroad. The Student Loans Company can apply higher fixed repayments.
- Not claiming refunds. Deductions in a low-income year can often be reclaimed.
Frequently asked questions
On £30,000 paid monthly you repay £4 a month on Plan 2, £23 on Plan 1, £37 on Plan 5, nothing on Plan 4 and £45 on a Postgraduate Loan in 2026/27. That is 9% (or 6%) of the part of your salary above your plan's threshold.
The Plan 2 threshold is £29,385 a year in 2026/27, which is £2,448.75 a month or £565.09 a week. It is due to stay at £29,385 for three years from April 2027.
Repayments are based on gross pay, before Income Tax and National Insurance. Pension contributions taken through salary sacrifice reduce the pay used, but contributions under a net pay arrangement or relief at source do not.
Yes. You must tell the Student Loans Company and give details of your income; repayments are then based on thresholds set for the country you live in. If you do not provide information, you may be charged fixed monthly repayments.
The Postgraduate Loan is repaid at 6% of income above £21,000 a year, separately from and at the same time as any undergraduate plan. Interest from 1 September 2026 is 6%, after the cap.
You may be able to get a refund if deductions were taken in a tax year when your income was below the threshold, before you were due to start repaying, or after your loan was fully repaid. Contact the Student Loans Company with your details.
Student loans from the Student Loans Company are not shown on your credit file. Mortgage lenders do count the monthly deduction as an outgoing when they work out how much you can borrow.
Yes. A bonus is added to your pay for that period, so the deduction for that pay day is higher. Because each pay period is worked out separately, a large bonus can mean repaying even if your normal monthly pay is below the threshold.
Student loans are cancelled if the borrower dies, and can be cancelled if you receive certain disability benefits and are permanently unfit to work. The loan is not passed on to family.
Sign in to your online account with the Student Loans Company to see your balance, interest and repayments. Payroll deductions can take a few weeks to show, and your annual statement gives the full picture.
Sources
- Rates and thresholds for employers 2026 to 2027: student loan and postgraduate loan recovery, HMRC. Checked .
- Student Loans Interest Rates and Repayment Threshold Announcement, Student Loans Company, 10 August 2026. Checked .
- Repaying your student loan, including what you pay and which plan you are on, GOV.UK. Checked .
- Student Loan Interest Rates Academic Year 2026/27, written ministerial statement, 13 April 2026. Checked .
- Repaying your student loan: Plan 2 interest thresholds, Which?. Checked .
- Legislation: Education (Student Loans) (Repayment) Regulations 2009 (SI 2009/470), as amended.
Related calculators
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- National Insurance calculator UKEmployee National Insurance taken alongside your student loan.
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- UK rent affordability calculatorHow much rent you can afford after your student loan and bills.
- UK debt payoff calculatorClear cards and loans, which cost far more than a student loan.
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Disclaimer
Calculation methodology sourced from official government publications. See our Editorial Policy for how we build and maintain our calculators.
Results are estimates for planning, not financial advice. Your payslip, HMRC and the Student Loans Company decide your actual deductions, balance and write-off date. Check your Student Loans Company account before making voluntary payments.