Student Loan Repayment Calculator

What Is a Student Loan Repayment Calculator?

A Student Loan Repayment Calculator estimates how much you may repay towards an income-contingent UK student loan based on your annual income and repayment plan. Unlike a conventional loan calculator, your required student loan repayment is generally determined by your income rather than simply by the amount you originally borrowed.

For the 2026/27 tax year, Plans 1, 2, 4 and 5 require repayments of 9% of income above their respective annual thresholds. Postgraduate Loans require 6% of income above the £21,000 postgraduate threshold. This calculator uses those 2026/27 thresholds to provide an estimate of your annual, monthly and weekly repayments.

Why Use a Student Loan Repayment Calculator?

Student loan deductions can reduce the amount of money you take home from your salary. Estimating the repayment before starting a job, changing salary or comparing different incomes can help you understand the effect on your finances.

How to Use the Student Loan Repayment Calculator

Enter your expected annual income, select the student loan repayment plan that applies to you and indicate whether you also have a Postgraduate Loan.

1. Enter your annual income — Enter your expected income before tax and other deductions, including relevant bonuses or overtime.
2. Select your repayment plan — Choose Plan 1, Plan 2, Plan 4 or Plan 5.
3. Add a Postgraduate Loan if applicable — Select the option if you also have a qualifying Postgraduate Loan.
4. Calculate your repayment — Select “Calculate Repayment” to see estimated annual, monthly and weekly repayment amounts.

UK Student Loan Repayment Rates and Thresholds for 2026/27

For the 2026/27 tax year, the annual repayment threshold is £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4 and £25,000 for Plan 5. The annual Postgraduate Loan threshold is £21,000. Plans 1, 2, 4 and 5 use a 9% repayment rate on income above the relevant threshold, while Postgraduate Loans use a 6% rate.

The calculation is based on the amount of income above the applicable threshold. For example, someone earning £35,000 on Plan 2 has £5,615 of income above the £29,385 threshold. Nine percent of that excess gives an estimated annual undergraduate student loan repayment of £505.35.

Plan 1, Plan 2, Plan 4 and Plan 5

Your repayment plan is determined by your circumstances, including when you started your course and the type of student finance you received. Plan 1 generally applies to older undergraduate loans, while Plan 2 applies to many students who started courses between September 2012 and July 2023. Plan 4 is primarily associated with Scottish student finance, while Plan 5 applies to qualifying undergraduate and certain other courses beginning from August 2023.

Postgraduate Loan Repayments

Postgraduate Loans use a separate repayment threshold and rate. For 2026/27, repayments are 6% of income above £21,000. If you have both an undergraduate student loan and a Postgraduate Loan, both repayments can apply when your income is above the relevant thresholds.

Understanding Your Student Loan Repayment

Income-contingent student loan repayments are different from repayments on a conventional personal loan. The amount you owe does not normally determine the amount you are required to repay each year. Instead, your repayment is calculated using your income and the threshold associated with your plan.

If your income is below the relevant repayment threshold, your calculated repayment is £0. If your income rises above the threshold, only the portion above the threshold is subject to the applicable repayment percentage. As your income changes, the amount you repay can therefore increase or decrease.

This calculator provides an estimate based on annual income. Actual PAYE deductions can differ because payroll calculations use the pay period and rounding rules applicable to your circumstances. Self-employed borrowers can also have different calculation considerations based on their income and tax return.

The calculator does not estimate how quickly your student loan balance will be cleared, calculate interest added to your balance or determine whether your loan will eventually be written off. Those outcomes depend on your loan type, balance, interest and individual circumstances.

Frequently Asked Questions