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Plans 1, 2, 4, 5 and postgraduate

Student loan repayment calculator

See what you'll repay each month, whether you'll clear your loan or have it written off, how much you'll pay in total, and whether overpaying would actually save you money.

Your loan

Your balance is in your Student Loans Company online account.
A year. If you haven't started repaying yet, enter what you expect to earn when you do.
Usually the April after you left your course. It sets when the loan is written off.
An average over your career. Bigger rises early on mean you repay faster.
Overpay and more optionsExtra payments, lump sum, inflation
On top of what comes out of your pay.
Student loan interest follows RPI inflation. It's 4.1% for this academic year.
Student loan

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    See your take-home pay with this loan

    Year by year

    Tax years run April to March, and the first row covers the rest of this tax year. Salary rises each April and interest rates reset each September; the rate shown is the one at the end of each tax year.

    How student loan repayments work

    You repay a share of what you earn above your plan's threshold, not a share of what you owe. That's 9% above the threshold for undergraduate plans and 6% for postgraduate loans, taken through your payslip (or Self Assessment if you're self-employed). If your pay drops below the threshold, repayments stop. Whatever is left when your plan's time limit runs out is written off.

    Which plan am I on?

    Should I overpay?

    Only if you're likely to clear the loan before it's written off. If you're not on track to clear it, every extra pound you pay is a pound you'd never have had to pay, because the rest is written off anyway. That's common on Plans 2 and 5, where many people never repay in full. If you earn well and will clear it anyway, overpaying cuts the interest you pay, but compare that with paying off more expensive debt first or saving into a pension. This calculator shows which camp you're in.

    Recent changes