UK Student Loan Repayment Calculator 2026
Estimate your monthly student loan repayments across Plan 1, 2, 4, 5 and Postgraduate loans.
✓ Updated for 2026/27 thresholds — Plan 5 PAYE deductions began April 2026
Repayment threshold for Plan 2: £29,385/yr
Find your balance on your Student Loans Company (SLC) statement
How Does UK Student Loan Repayment Work?
UK student loans work differently from conventional debt. You only repay when your income exceeds a plan-specific threshold, and repayments are calculated as a percentage of the income above that threshold — not based on your total balance. Any remaining balance is written off after a set number of years. For many borrowers, especially on Plan 2 and Plan 5, the loan functions more like a graduate income contribution than a traditional debt.
Student Loan Plan Comparison 2026/27
| Plan | Threshold | Rate | Write-Off |
|---|---|---|---|
| Plan 1 | £24,990/yr | 9% | 25 yrs / age 65 |
| Plan 2 | £29,385/yr | 9% | 30 years |
| Plan 4 | £32,745/yr | 9% | 30 yrs / age 65 |
| Plan 5 | £25,000/yr | 9% | 40 years |
| Postgrad | £21,000/yr | 6% | 30 years |
Thresholds effective April 2026. Interest rates subject to annual change. Source: Student Loans Company / GOV.UK.
Frequently Asked Questions
Which student loan plan am I on?
Your plan depends on when and where you started your course. Plan 1 covers England/Wales starters before September 2012. Plan 2 covers England/Wales starters September 2012 to July 2023. Plan 4 covers Scottish undergraduate loans. Plan 5 covers England starters from August 2023. Check your payslip or SLC account if you're unsure.
Should I make voluntary overpayments?
For most Plan 2 and Plan 5 borrowers with large balances, voluntary overpayments are generally not recommended by financial experts — if your loan will be written off anyway, extra payments simply reduce the amount that would have been cancelled for free. However, if projections show you will repay in full before write-off, overpaying could save interest. This is a complex personal finance decision — consider speaking with an independent financial adviser.
Does my student loan affect my credit score?
UK student loans do not appear on your credit file and do not directly affect your credit score. However, when applying for a mortgage, lenders typically ask about monthly student loan deductions as part of their affordability assessment, which can reduce the amount you can borrow.
What happens if I go abroad?
If you leave the UK for more than 3 months, you must notify the Student Loans Company. Repayments continue based on your overseas earnings, using country-specific thresholds set by the SLC. Interest continues to accrue while you are abroad.
📖 Read the guide
UK student loan repayments explained
What to work out next
⚠️ Disclaimer: Results are estimates only and do not constitute financial, tax, or legal advice. Tax laws change frequently — always verify with official sources (IRS, HMRC) and consult a qualified professional before making decisions.
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