Student Loan Repayment Calculator
Use this student loan calculator to see what your employer takes from each pay packet and over the year on Plan 1, Plan 2, Plan 4, Plan 5 and Postgraduate Loans.
Checked 20 October 2026.
Repayment plan
Check which plan you are on with your loan provider.
How you are paid
Repayment a month
£79
This is an estimate for 2026/27. Your employer's payroll figure on your payslip applies.
- Yearly repayment
- £948
- Share of gross pay
- 2.4%
- Pay per period
- £3,333.33
Show the working
- Plan 2: annual threshold £29,385 ÷ 12 pay periods = £2,448.75 (rounded down to the penny).
- Plan 2: excess pay £3,333.33 − £2,448.75 = £884.58. 9% of that is £79.61, rounded down to the pound = £79.
- Yearly total = £79 × 12 = £948.
- Simple yearly estimate (rate × income above the annual threshold, not rounded) = £955.35. Payroll rounds each deduction down to the pound, so the yearly total can be a few pounds lower.
- Thresholds and rates are for the 2026/27 tax year.
Nothing you enter leaves your device. This is not financial advice. Your employer's payroll figure and your loan provider's statement are the final word.
How much student loan will I repay each month?
You repay 9% of your income above the threshold for Plans 1, 2, 4 and 5, and 6% of income above £21,000 a year for a Postgraduate Loan (GOV.UK). Your employer takes it from pay each period.
Student finance repayments depend on income, not on your loan balance. For other borrowing see the loan calculator, and for full NHS pay after deductions see the NHS take-home pay calculator.
Repayment thresholds 2026/27
| Plan | Yearly | Monthly | Weekly | Rate |
|---|---|---|---|---|
| Plan 1 | £26,900 | £2,241.66 | £517.30 | 9% |
| Plan 2 | £29,385 | £2,448.75 | £565.09 | 9% |
| Plan 4 | £33,795 | £2,816.25 | £649.90 | 9% |
| Plan 5 | £25,000 | £2,083.33 | £480.76 | 9% |
| Postgraduate Loan | £21,000 | £1,750.00 | £403.84 | 6% |
Student loan repayment by salary
| Salary | Plan 1 | Plan 2 | Plan 4 | Plan 5 | Postgraduate Loan only |
|---|---|---|---|---|---|
| £30,000 | £23 | £4 | £0 | £37 | £45 |
| £40,000 | £98 | £79 | £46 | £112 | £95 |
| £50,000 | £173 | £154 | £121 | £187 | £145 |
| £60,000 | £248 | £229 | £196 | £262 | £195 |
Whole pounds, rounded down as in payroll. Multiply by 12 for the year.
How do a Postgraduate Loan and a Plan loan work together?
GOV.UK says you repay 6% of income above the Postgraduate Loan threshold plus 9% of income above the lowest threshold among your other plans, and only one repayment is taken from each pay packet.
GOV.UK's example, a Plan 2 student loan and a Postgraduate Loan on £2,500 a month, comes to £49, which this calculator also gives. Postgraduate loan repayment is worked out separately and added on.
Why is my repayment rounded down to the pound?
HMRC's payroll specification says each deduction is the recovery rate applied to earnings above the periodic threshold, rounded down to the pound, and the periodic threshold is the annual threshold divided by the number of pay periods, rounded down to the penny.
That is why the yearly total can be slightly lower than 9% of income above the annual threshold.
When is a student loan written off?
It depends on your plan: 25 years for Plan 1 (first loan paid on or after 1 September 2006), 30 years for Plan 2, Plan 4 (first loan paid on or after 1 August 2007) and the Postgraduate Loan in England or Wales, and 40 years for Plan 5, counted from the April you were first due to repay.
See the table below for the earlier rules.
| Plan | When it is written off |
|---|---|
| Plan 1 | 25 years after the April you were first due to repay (first loan paid on or after 1 September 2006). If your first loan was paid before 1 September 2006, when you are 65. |
| Plan 2 | 30 years after the April you were first due to repay. |
| Plan 4 | 30 years after the April you were first due to repay (first loan paid on or after 1 August 2007). If before 1 August 2007, when you are 65 or 30 years after the April you were first due to repay, whichever comes first. |
| Plan 5 | 40 years after the April you were first due to repay. |
| Postgraduate Loan (England or Wales) | 30 years after the April you were first due to repay. Northern Ireland postgraduate students are on Plan 1 and Scottish postgraduate students are on Plan 4. |
Is the Plan 2 repayment threshold changing?
Budget 2025 says the Plan 2 threshold will be held at its 2026-27 level for three years from April 2027, which covers 2027-28 to 2029-30. This student loan repayment calculator uses the 2026/27 figure of £29,385.
The other thresholds can change each April, so check GOV.UK for new years.
Common questions
Do I repay more if my loan balance is bigger?
No. GOV.UK explains that repayments are based on your income above the repayment threshold, not on how much you owe. A larger balance only affects how long repayments continue.
What is the interest cap on Plan 2 loans?
GOV.UK says interest on Plan 2 and Plan 3 loans is capped at 6%, instead of RPI plus 3%, from 1 September 2026. This does not change your monthly repayment, which depends on your income.
How much student loan do I repay on a £40,000 salary?
Paid monthly in 2026/27, you repay £98 a month on Plan 1, £79 on Plan 2, £46 on Plan 4, £112 on Plan 5 and £95 on a Postgraduate Loan only. That is £1,176, £948, £552, £1,344 and £1,140 a year.
Why is my payslip different from this calculator?
Pay often changes from month to month, and bonuses, overtime and the pay period used all affect the figure. This calculator assumes equal pay each period, so use your payslip for the exact amount.
Do I repay if I earn below the threshold?
No. Repayments are only taken on pay above the threshold. For example, on Plan 2 with a £29,000 salary the repayment is £0.
Sources
Checked 20 October 2026:
- GOV.UK: Repaying your student loan, how much you repay
- GOV.UK: When your student loan gets written off or cancelled
- GOV.UK: Rates and thresholds for employers 2026 to 2027
- GOV.UK: Collection of student loans from 6 April 2026 (payroll technical specifications)
- GOV.UK: Budget 2025
- GOV.UK: Interest rate cap introduced to protect Plan 2 borrowers
This is not financial advice. Your employer's payroll figure and your loan provider's statement are the final word.
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