Student Loan Calculator UK

Calculate UK student loan repayments with income thresholds and interest rates. Understand Plan 1, Plan 2, and Postgraduate loan repayments based on your salary and circumstances.

Loan Details

Student Loan Plan Type

Outstanding Loan Balance

Current Interest Rate (%)

When did you start university?

Income Information

Current Annual Salary (£)

Expected Annual Salary Growth (%)

Other Annual Income (£)

Additional Loans (if applicable)

Plan 1 Loan Balance (£)

Plan 2 Loan Balance (£)

Postgraduate Loan Balance (£)

Repayment Options

Make Voluntary Payments

Repayment Strategy

UK Student Loan Repayment System

UK student loans use an income-contingent repayment system:

Income Threshold: Only repay when earning above certain thresholds
Percentage Rate: Pay a percentage of income above threshold
Automatic Deduction: Repayments taken through PAYE tax system
Loan Forgiveness: Outstanding balance written off after 30 years

UK Student Loan Plans

Plan 1: Started before September 2012, threshold £22,015, 9% repayment rate

Plan 2: Started September 2012+, threshold £27,295, 9% repayment rate

Plan 4: Scottish students, threshold £25,000, 9% repayment rate

Postgraduate: Master's/PhD loans, threshold £21,000, 6% repayment rate

Interest Rates and Thresholds (2024/25)

Interest rates and repayment thresholds are updated annually:

Plan 2 loans: RPI + up to 3% (income dependent)
Plan 1 loans: RPI or Bank of England base rate + 1%
Thresholds increase annually with inflation
Repayments pause automatically if income falls below threshold
No early repayment penalties
Loans written off after 30 years (25 years for some older loans)

Note: Student loan calculations are based on current UK government rates and thresholds. Interest rates and thresholds change annually. Loans are automatically written off after 30 years. This calculator provides estimates for planning purposes only.