UK-Specific Calculator

UK Student Loan Calculator

Calculate your student loan repayments based on your salary and estimate total repayment period.

Annual Repayment

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Monthly Repayment

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Repayment as % of Salary

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Repayment Threshold

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Repayment Rate

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Plan Type

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Interest Rate Used

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GUIDE

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Understanding UK Student Loan Plans 2026/27

Plan 1, Plan 2, Plan 4 and Plan 5 use a 9% repayment rate on earnings above the applicable 2026/27 threshold: £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4 and £25,000 for Plan 5. Your funding authority, course and course start date help determine your plan. Broadly, Plan 4 applies to borrowers funded by Scotland, Plan 1 to many borrowers funded by Northern Ireland, Plan 2 to relevant Welsh undergraduates and some English undergraduates, and Plan 5 to eligible English undergraduates whose courses began from August 2023.

This calculator models one selected plan only. A Postgraduate Loan is separate and is not calculated here, nor are simultaneous repayments under multiple plans. If interest is left blank or set to zero, the calculator uses an editable historical assumption rather than a current official quote. Actual interest can differ. Statutory cancellation depends on the plan and facts such as age, first-loan date and when repayment first became due; the calculator’s 40-year projection limit does not determine cancellation. Check your account and official guidance for your circumstances.

How UK Student Loan Repayments Work

Repayments are generally based on income above your plan’s threshold. This calculator estimates annual repayment as 9% of the part of annual salary above the selected 2026/27 threshold, then divides that result by 12 to show a monthly approximation. For example, a £35,000 salary on Plan 2 gives an estimated annual repayment of £505.35: (£35,000 − £29,385) × 9%. The displayed monthly amount is an approximation and may not match individual payroll deductions, which depend on pay periods and actual earnings.

If an outstanding balance is entered, the projection assumes salary, threshold and interest rate remain unchanged. Each annual step applies interest to the remaining balance before a capped annual payment. Reported interest paid includes only the smaller of that year’s actual payment and interest charged, reflecting this simplified annual model rather than precise account allocation. The projection stops after at most 40 annual steps; reaching that limit is not statutory write-off. The calculator does not model overseas repayment tables, Self Assessment details, multiple plans, Postgraduate Loans, changing salary, changing thresholds or exact payroll timing. Consult the Student Loans Company or official guidance for account-specific figures.

Should You Pay Off Student Loans Early?

Early repayment reduces the outstanding balance, but whether it lowers the amount ultimately repaid depends on future earnings, the applicable repayment plan, interest and any statutory cancellation date. This calculator can compare an entered balance and editable interest assumption with estimated annual repayments, but it cannot predict earnings, determine whether the loan will be fully repaid, or decide whether an early payment is appropriate.

The projection uses unchanged salary, threshold and interest assumptions for up to 40 annual steps. Reaching that limit does not represent statutory cancellation. Actual cancellation rules depend on the plan and, for some borrowers, the date the loan first became due or the borrower’s age—details this calculator does not collect. Check the applicable rules and current account information with the Student Loans Company or the relevant official funding body before making a voluntary repayment.

UK Student Finance: Maintenance Loans and Grants

Maintenance funding can help with living costs while studying, but the support available depends on the relevant UK funding body, academic year, course, study intensity, household circumstances and other eligibility conditions. It may include repayable maintenance loans, non-repayable grants or bursaries, and support linked to disability, childcare or dependants. Names, amounts and eligibility rules vary across England, Wales, Scotland and Northern Ireland and may change between academic years.

This repayment calculator does not determine maintenance funding or grant eligibility. It estimates repayments from one selected repayment plan, annual salary and, optionally, an outstanding balance and editable interest assumption. Income-based repayments are calculated from earnings above the selected plan threshold rather than from how the balance was divided between tuition and maintenance borrowing. For current funding amounts, application rules and the treatment of particular support, consult the official student-finance body for the part of the UK that funds the course.