Student Loan Repayment Calculator
How much you'll repay on a UK student loan, whether any of it will be written off, and whether overpaying is worth it.
2026/27 thresholds, year-by-year projection · By Stuart Mathieson · Updated November 2026
The April after you left your course.
Results
Total you'll repay
Outcome
Written off
Year by year (without overpayments)
| Tax year | Salary | Interest rate | Repaid | Interest | Balance |
|---|
A projection, not a forecast: it assumes your salary, inflation and the rules stay as entered. Governments have changed thresholds and interest rules many times. Results are estimates for illustration only and are not financial advice.
How UK student loans are repaid
A UK student loan isn't like a normal loan. What you repay depends on what you earn, not on what you owe:
- You repay 9% of your income above your plan's threshold (6% for a Postgraduate Loan), through payroll or Self Assessment.
- Interest is added every month, at a rate linked to inflation.
- Whatever is left is written off after a set number of years, and you never repay it.
| Plan | Who's on it | Threshold | Interest | Written off after |
|---|---|---|---|---|
| Plan 1 | England & Wales before Sept 2012; Northern Ireland | £26,900 | RPI or lower (4.1%) | 25 years |
| Plan 2 | England & Wales, Sept 2012 to July 2023 | £29,385 | RPI to RPI + 3% (capped at 6% in 2026/27) | 30 years |
| Plan 4 | Scotland | £33,795 | RPI or lower (4.1%) | 30 years |
| Plan 5 | England, from Aug 2023 | £25,000 | RPI (4.1%) | 40 years |
| Postgraduate | England & Wales master's and doctoral | £21,000 | RPI + 3% (capped at 6% in 2026/27) | 30 years |
Write-off periods count from the April you were first due to repay. Plan 1 loans first taken out before September 2006, and Plan 4 loans taken out before August 2007, are written off at 65 instead - this calculator assumes later loans.
The Plan 2 threshold of £29,385 is frozen from April 2027 until April 2030, so more of each pay rise will go on repayments over those years. The calculator builds that in.
Should you overpay?
This is the question the calculator is really for, and the answer surprises people. For many graduates, overpaying costs more overall, because the extra money only reduces a balance that would have been written off anyway.
Two examples on Plan 2, with a £50,000 balance, first due to repay in 2023, 4% salary growth and 3% RPI:
| Salary | No overpayment | Overpay £100 or £300 a month |
|---|---|---|
| £35,000 | £49,335 repaid, £93,745 written off | £100/month: £81,735 repaid, still not cleared |
| £60,000 | £93,796 repaid, cleared in 2045/46 | £300/month: £65,860 repaid, cleared in 2035/36 |
On £35,000, overpaying £100 a month adds about £32,400 to what you pay over the life of the loan. On £60,000, overpaying £300 a month saves about £27,900, because that loan would have been repaid in full anyway and overpaying cuts the interest.
The rule of thumb: overpaying only makes sense if you're on track to clear the loan before it's written off. If you're not, it behaves more like a 9% tax on earnings above the threshold, and spare money usually does more in a pension, savings or a house deposit.
I've gone through this in more depth, including Plan 4 for Scottish graduates, in my student loan plans guide.
What the projection assumes
- Your salary grows by the same percentage every year, and you never take a career break.
- Thresholds rise with RPI each April, except Plan 2 (frozen until April 2030) and the Postgraduate Loan (fixed at £21,000).
- Interest is the RPI you enter (Plans 1, 4 and 5) or RPI plus up to 3% (Plan 2 and Postgraduate), with the 6% cap applied in 2026/27 only. In reality the rate is reset each September.
- Repayments are worked out on yearly pay. Payroll works them out on each payslip, so a bonus month can mean a bigger deduction.
- If you have two loans, such as Plan 2 and a Postgraduate Loan, you repay both at once - run the calculator for each.
Frequently asked questions
Will my student loan be written off?
For many graduates, yes. Plan 2 and Plan 4 loans are written off 30 years after the April you were first due to repay, Plan 1 after 25 years and Plan 5 after 40. Whether anything is left by then depends mainly on your earnings over that time.
Is it worth overpaying my student loan?
Only if you'd otherwise clear it before it's written off. If the balance would be cancelled anyway, overpaying increases the total you pay. Run your numbers with and without an overpayment to see which applies to you.
What is the Plan 4 repayment threshold?
For the 2026/27 tax year it's £33,795 a year, or £2,816 a month. You repay 9% of anything you earn above it. Plan 4 is the plan for Scottish students funded by SAAS.
Does my student loan affect my credit score or mortgage?
It doesn't appear on your credit file. Mortgage lenders do take the monthly repayment into account when they work out what you can afford, as they would any regular deduction from pay.
Sources
- Repaying your student loan: what you pay - GOV.UK
- When your student loan gets written off or cancelled - GOV.UK
- Rates and thresholds for employers 2026 to 2027 - HM Revenue & Customs
- How do Plan 2 student loans work, and how have they changed over time? - Institute for Fiscal Studies