Student Loan Calculator UK — When Will You Pay Off Your Loan?
Free UK student loan repayment calculator for Plan 1 Plan 2 Plan 4 Plan 5 and postgraduate loans. Calculate monthly repayments and total cost.
UK student loans work very differently from regular debt. Repayments are income-contingent meaning you only pay when earning above the threshold and any remaining balance is written off after 25-40 years. Plan 2 borrowers (post-2012 England) repay 9% of income above £27295. Many graduates will never fully repay their loan making it function more like a graduate tax than traditional debt. Understanding your specific plan is crucial for financial planning.
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Key Information
| Parameter | Details |
|---|---|
| Plan 2 Threshold | £27295 per year (2026) |
| Plan 2 Repayment Rate | 9% of income above threshold |
| Plan 5 Threshold (post-2023) | £25000 per year |
| Write-Off Period | 25 years (Plan 5) to 40 years (Plan 2) |
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Use Calculator NowFrequently Asked Questions
How much student loan do I repay monthly?
On a £35000 salary with Plan 2 you repay 9% of earnings above £27295. Monthly repayment = (£35000 - £27295) x 9% / 12 = £57.79. On £50000 salary the monthly repayment is £170.44. On £30000 it is just £20.29. Repayments stop if your income drops below the threshold making it very different from a normal loan with fixed monthly payments.
Should I overpay my student loan?
For most graduates overpaying is NOT recommended. If you will not clear the balance before write-off (25-40 years) overpayments are wasted money. Only overpay if you earn enough to repay in full well before write-off AND the interest rate exceeds what you would earn investing the same amount. Financial advisors estimate that only the top 20% of graduate earners will fully repay.
Does student loan affect my mortgage?
Student loan repayments reduce your disposable income which lenders factor into affordability calculations. A £300/month student loan repayment could reduce your maximum mortgage by approximately £50000-£70000. However lenders treat it as a committed expenditure not as debt. It does not appear on your credit file and does not affect your credit score in any way.
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Last updated: 24 March 2026