UK Student Loan Repayment Calculator & Payoff Forecaster
See exactly how much Student Finance takes from your pay for Plan 1, 2, 4, 5 and postgraduate loans in 2026/27 — then project your balance, total repayments and write-off, and whether voluntary overpayments make sense.
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PAYE amount × 12
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Career Salary vs Loan Balance Projection
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| Year | Gross Salary | Annual Repayment | Interest Added | Ending Balance | Cumulative Repaid |
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Think of It Like a Graduate Tax
UK income-contingent student loans don't work like a mortgage or credit card. What you repay depends only on what you earn above your plan's threshold — never on the balance. If your pay drops below the threshold, repayments stop. Any balance left at the end of the term is written off.
Plan 2 vs Plan 5
For students starting in England from August 2023 (Plan 5), the write-off period rose from 30 to 40 years and the threshold fell to £25,000, while interest dropped to RPI only — no extra 3%. The result is that many more Plan 5 borrowers are expected to repay in full than on Plan 2.
Why this is its own page
The user job here is “how much will Student Finance take from this UK salary?” The answer is a function of plan × threshold × rate, not of a loan balance and a 10-year term. The US student loan calculator uses standard amortisation. Changing that page to pounds would still be the wrong formula. GOV.UK publishes the bands; this page does not invent them.
2026/27 thresholds (from 6 April 2026)
You repay a percentage of income above the threshold for your plan. Below the threshold the deduction is £0.
Undergraduate plans — 9% of income over the threshold
Plan 1: £26,900 a year / £2,241 a month / £517 a week
Plan 2: £29,385 a year / £2,448 a month / £565 a week
Plan 4: £33,795 a year / £2,816 a month / £649 a week
Plan 5: £25,000 a year / £2,083 a month / £480 a week
Postgraduate loan — 6% of income over the threshold
£21,000 a year / £1,750 a month / £403 a week
PAYE formula this page uses
monthly pay ≈ annual salary ÷ 12
excess = max(0, monthly pay − published monthly threshold)
deduction = 9% or 6% of excess, then rounded down to the nearest pound
Source: GOV.UK — how much you repay. Re-check that page before you rely on a figure — Student Finance, not this calculator, is the authority. Overseas thresholds are different and are not modelled here.
By Suhaib Hassan · Thresholds verified 21 Sep 2026 against GOV.UK · Method v1.0-UK-SLC · How CalculatePilot verifies formulas
Worked examples (pre-computed)
These use the same monthly thresholds and round-down rule as the calculator, so the answer is readable if JavaScript is off.
1. Plan 5, £35,000 salary
£35,000 ÷ 12 = £2,916.67 a month
minus Plan 5 monthly threshold £2,083 = £833.67 over the line
9% of £833.67 = £75.03 → PAYE takes £75 a month
2. Plan 2, £40,000 salary
£40,000 ÷ 12 = £3,333.33
minus Plan 2 monthly threshold £2,448 = £885.33
9% of £885.33 = £79.68 → PAYE takes £79 a month
The same salary on Plan 5 is higher (lower threshold). Plan type changes the deduction, which is why this is not a renamed copy of the US page.
3. Plan 5 plus a postgraduate loan, £35,000
Postgraduate 6% of (£2,916.67 − £1,750) = £70.00 → £70
Plan 5 9% of (£2,916.67 − £2,083) = £75.03 → £75
Combined PAYE ≈ £145 a month
GOV.UK takes both when you hold both plan types.
4. Plan 5, £24,999
Monthly pay is under £2,083. Excess = £0. Deduction = £0.
What this figure does not include
- A US-style fixed instalment. Use the student loan calculator only if the loan amortises on a term and rate.
- An exact payoff date. The projection above is an estimate from the balance, rate and salary growth you enter. Your Student Finance account is the authority on your balance and interest.
- Overseas repayment thresholds. Different country bands. This page does not mint a country × plan doorway URL.
- Income tax or National Insurance. This is the student-loan line only. Combine it with PAYE tax and NI on the UK take-home pay calculator. Do not treat a currency switch on the US paycheck page as PAYE.
Frequently asked questions
Is this the same as a US student loan calculator?
No. UK undergraduate and postgraduate loans repay a percentage of income above a plan threshold. The US student loan calculator on this site models a fixed amortising monthly payment. Switching the currency on that page does not produce a UK payslip deduction.
Which plan am I on?
Plan 5 covers England and Wales courses that started on or after 1 August 2023. Plan 2 covers England and Wales 1 September 2012 to 31 July 2023. Plan 1 is earlier England/Wales and most Northern Ireland loans. Plan 4 is Scotland. Postgraduate loans use a separate 6% rate. Confirm on GOV.UK or your Student Finance account.
What if I have a postgraduate loan as well?
GOV.UK says you repay 6% of income over the postgraduate threshold and 9% of income over the lowest undergraduate plan threshold you have. Tick the postgraduate box on this page to add both.
Why might PAYE take a pound less than 9% of the excess?
Payroll rounds the deduction down to the nearest pound. This page shows the unrounded pence and the PAYE amount.
Does this show when the loan is paid off?
It projects it. The payslip deduction uses the published 2026/27 thresholds exactly. The payoff projection is an estimate: it depends on your salary growth, the interest rate you enter, and thresholds staying at today's levels.
Next Calculation
Put the deduction in context.