UK Student Loan Calculator
Project your student loan repayments over time. See when you'll pay off (or write off) your loan, and understand how salary growth affects your total payments.
UK Student Loan Calculator
Project your repayments and see your write-off date
Started Sept 2012 onwards (England/Wales)
Repayment threshold: £29,385/year
Monthly Repayment
£42
£505 per year
Write-off In
30 years
Total You'll Pay
£70,523
Loan Will Be Written Off
Your remaining balance of £115,751 will be written off in 2056. You'll pay £70,523 over 30 years.
High Interest Warning
Interest (£136,274) makes up a significant portion of your total repayments. Consider whether voluntary overpayments might save you money.
Repayment Projection (First 10 Years)
| Year | Salary | Repayment | Interest | Balance |
|---|---|---|---|---|
| 2027 | £35,000 | £505 | £1,958 | £51,453 |
| 2028 | £36,050 | £600 | £2,084 | £52,938 |
| 2029 | £37,132 | £697 | £2,218 | £54,458 |
| 2030 | £38,245 | £797 | £2,359 | £56,019 |
| 2031 | £39,393 | £901 | £2,508 | £57,627 |
| 2032 | £40,575 | £1,007 | £2,667 | £59,287 |
| 2033 | £41,792 | £1,117 | £2,836 | £61,007 |
| 2034 | £43,046 | £1,229 | £3,016 | £62,793 |
| 2035 | £44,337 | £1,346 | £3,208 | £64,656 |
| 2036 | £45,667 | £1,465 | £3,413 | £66,603 |
Plan 2 Details
How to Use This Calculator
- Select your loan plan – Choose Plan 1, 2, 4, 5, or Postgraduate based on when and where you studied.
- Enter your loan balance – Your current outstanding balance (check your Student Loans Company account).
- Enter your annual salary – Your current gross salary before tax.
- Set expected salary growth – A realistic annual percentage (2-5% is typical for inflation matching).
Understanding Your Results
The calculator shows your monthly repayment based on your current salary and the repayment threshold for your plan. This amount changes as your salary grows.
The repayment projection table shows year-by-year how your balance evolves as repayments and interest accumulate. Many graduates find that interest outpaces repayments initially.
If you won't repay in full before write-off, the calculator shows how much will be written off. This is common and not a problem – student loans don't affect credit scores and are written off after 25-40 years depending on your plan.
This calculator assumes you are already in repayment and uses the current published thresholds and interest framework. If you are still studying, Plan 2 interest is usually charged at the higher student rate until the April after you leave your course.
Comparing GOV.UK, The Salary Calculator and MoneySavingExpert
People searching for a The Salary Calculator alternative or trying to decide between GOV.UK, MoneySavingExpert, and a repayment tool are usually asking different questions.
GOV.UK is best for the official rules, thresholds, and current interest rates. MoneySavingExpert is strong when you want plain-English strategy on overpaying or deciding whether to treat student loans like tax rather than normal debt.
Boring Math is the better fit when you want to model your own numbers fast: your plan, your salary, your likely write-off date, and what changes if you also use the UK Salary Sacrifice Calculator or compare take-home pay on the UK Tax Calculator.
Frequently Asked Questions
Which student loan plan am I on?
Plan 1: Started before September 2012 in England/Wales, or any time in Scotland/NI. Plan 2: Started September 2012 onwards in England/Wales. Plan 4: Scotland, started September 1998 onwards. Plan 5: Started September 2023 onwards in England. Postgraduate: Masters or Doctoral loans from 2016 onwards.
What are the current repayment thresholds?
Plan 1: £26,900/year. Plan 2: £29,385/year. Plan 4: £33,795/year. Plan 5: £25,000/year. Postgraduate: £21,000/year. You only start repaying once your income exceeds these thresholds.
How much will I repay each month?
For Plan 1, 2, 4, and 5: You pay 9% of everything you earn above your threshold. For Postgraduate loans: You pay 6% above the threshold. For example, on Plan 2 earning £35,000: (£35,000 - £29,385) × 9% = £505.35/year or about £42.11/month.
When will my student loan be written off?
Plan 1: 25 years after becoming due for repayment. Plan 2: 30 years after the April you were first due to repay. Plan 4: 30 years. Plan 5: 40 years. Postgraduate: 30 years. After this time, any remaining balance is cancelled.
What interest rate do I pay on my student loan?
Current rates change over time. Right now, Plan 1, Plan 4, and Plan 5 are 3.2%. Postgraduate loans are 6.2%. Plan 2 is income-linked after study, from 3.2% up to 6.2%, while borrowers still studying are charged RPI plus 3% (currently 6.2%). This calculator assumes you are already in repayment.
Should I pay off my student loan early?
For most people, no. Student loans are written off after 25-40 years, and many graduates won't repay in full. Only consider overpaying if: you're a high earner likely to repay in full anyway, you're close to clearing the balance, or you want to reduce psychological debt burden. The money is often better invested elsewhere.
Can I have multiple student loan plans?
Yes, if you took out loans at different times (e.g., undergraduate then postgraduate), you'll have multiple plans. Plan 2 and Postgraduate loans are repaid simultaneously when over both thresholds. Plan 1 is repaid before Plan 2 if you have both.
Does salary sacrifice affect my student loan repayments?
Yes, salary sacrifice (e.g., into pension) reduces your gross salary before student loan calculations. This means lower repayments. However, this also means your loan lasts longer and accrues more interest. For those unlikely to repay in full, this is often beneficial.
What is a good alternative to The Salary Calculator for student loans?
The Salary Calculator is handy for broad take-home pay checks, but Boring Math is a better alternative when the real question is student-loan-specific: monthly repayments by plan, write-off timing, and how pension salary sacrifice changes what you repay.
Should I use GOV.UK, MoneySavingExpert, or a student loan calculator?
Use GOV.UK when you want the official thresholds and rule wording. Use MoneySavingExpert when you want strategy explainers about overpayments or whether student loans behave more like a tax than normal debt. Use a calculator like Boring Math when you want to model your own salary, loan plan, and salary-sacrifice choices side by side.
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