Student loan repayment calculator
What you’d repay, when you’d clear it, and whether it’d be written off first.
Pick your plan, put in your balance and salary, and the results update as you type. Thresholds and interest rates are held at the 2026/27 ones, checked against gov.uk on 5 October 2026.
Your loan plan
Select your planYour details
Your results
Year-by-year breakdown
| Year | Salary | Repayment | Interest Added | Balance (End of Year) |
|---|
What to know
It works like a graduate tax. You only repay when earning above the threshold. Drop below it, whether through part-time work, career breaks or redundancy, and repayments stop automatically. There’s no penalty and it won’t affect your credit score.
Overpaying can be a costly mistake. If your loan is likely to be written off before you clear it, voluntary overpayments could cost you thousands more than letting the write-off happen. Always model the numbers here before paying anything extra.
Postgrad loans stack separately. If you have both an undergraduate and a postgraduate loan, you repay both simultaneously from the same paycheck, 9% above your undergrad threshold plus 6% above £21,000. This calculator covers one loan at a time.
Salary growth is the biggest lever. Even a modest 3% annual raise significantly shortens your repayment window. Try adjusting the salary growth field to model a promotion, sector move, or career change. The difference can be dramatic.
Frequently asked questions
How do I know which plan I’m on?
Plan 1: started before September 2012 in England/Wales, or any time in Northern Ireland. Plan 2: started between September 2012 and July 2023 in England, or any time from September 2012 in Wales. Plan 4: studied in Scotland. Plan 5: started from August 2023 in England. Postgraduate: Masters or PhD loan taken from 2016 onwards. If you’re still unsure, sign in to your Student Loans Company repayment account (linked from GOV.UK). It shows your plan type.
Why might my loan never fully repay?
If your salary stays near the threshold, your monthly repayments may not cover the interest being added each year, meaning the balance grows rather than shrinks. After the write-off period (25–40 years, depending on your plan), any remaining balance is cancelled by the Student Loans Company. This isn’t a failure, it’s how the system is designed, and it’s factored into the calculator projections.
Does the interest rate actually change?
Yes. Rates follow the Retail Price Index (RPI) and normally change each September. For 2026/27, Plans 1, 4 and 5 charge 4.1% flat and the Postgraduate Loan charges 6%. Plan 2 depends on what you earn: 4.1% at £29,385 or less, rising in a straight line to the 6% cap at £52,885 and above. On Plan 2 the calculator works that rate out from your salary for each year of the projection. If your annual statement shows a different rate, type it in and the calculator uses yours.
What happens when my loan is written off?
Once the write-off period ends (counted from April after you first became liable to repay, usually the April after you graduate), any remaining balance is automatically cancelled by the Student Loans Company. It is not taxable income, it does not appear on your credit report, and you receive no bill. You simply stop repaying.
Should I make voluntary overpayments?
Only if the calculator clearly shows your loan will be fully repaid before the write-off date. And voluntary overpayments would meaningfully reduce the interest you pay. For many Plan 2 borrowers with balances above £40,000, the loan writes off regardless, making overpayments a poor financial decision compared to investing or saving elsewhere. Model it here first.
How accurate are these projections?
This tool provides estimates based on the thresholds, rates and write-off periods you enter. Real repayments vary with annual RPI changes, threshold uplifts, salary fluctuations, and employment gaps. Use it for planning and comparison. And refer to your official Student Finance account for your exact balance and repayment schedule.
Now you know what you owe. Two reads worth your time: how the 6% interest cap on Plan 2 and Plan 3 actually works, and why earning £50,270 means a 51% marginal rate if you have a Plan 2 loan. To see your take-home after tax, NI and loan deductions, use the Graduate Salary Calculator.
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Run a student blog, a course page, or a students’ union advice site? You can drop this calculator straight into your own page. It updates on our end, so the thresholds and write-off rules stay correct without you touching anything. You can use it under CC BY 4.0, as long as the UniSorted credit line stays visible.
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Updated 5 October 2026 · How we check