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Student Loan Repayment Calculator

See how much you repay each month and year on Plan 2, Plan 5 or Plan 4 (Scotland) student loans — with total repaid and write-off estimate for the 2026/27 tax year.

Tool
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Your details

Plan 2: England 2012–2022 · Plan 5: England 2023+ · Plan 4: Scotland

£

Your gross annual income before tax.

£

Enter your current balance to estimate total repaid and clear/write-off time.

No sign-up · No tracking · Runs in your browser
Monthly repayment Effective rate —

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Annual repayment£—
Plan threshold£—
Income above threshold£—
Plan 2 · Interest: RPI + up to 3%

Student loan thresholds and rates apply to the 2026/27 tax year (6 April 2026 – 5 April 2027). Sources: GOV.UK — Student loans terms and conditions 2026/27 · Scottish Government — Student support · GOV.UK — Interest rates announcement. Rules can change — check the latest official guidance.

How it works

Enter your annual salary and select your repayment plan. The calculator works out your monthly and annual repayment as 9% of your income above the plan threshold. If you enter your loan balance, it also estimates how much you will repay in total and whether you will clear the loan or have it written off.

Example calculation

For a £40,000 salary on Plan 2 (2026/27 threshold £29,385):

  • Income above threshold: £40,000 − £29,385 = £10,615
  • Annual repayment: 9% × £10,615 = £955.35
  • Monthly repayment: £955.35 ÷ 12 ≈ £79.61
  • Effective rate on gross salary: about 2.4%

Plan 5 uses a lower £25,000 threshold, so the same salary would repay £1,350/year (£112.50/month). Plan 4 (Scotland) uses a higher £33,795 threshold, so the same salary would repay £558.45/year (£46.54/month).

Methodology & formula

Student loan repayments are income-contingent: repayment = 9% × max(0, income − threshold). The 2026/27 thresholds are:

  • Plan 2 (England, 2012–2022 starters): £29,385/year · written off after 30 years · interest RPI + up to 3% GOV.UK · 2026/27
  • Plan 5 (England, 2023+ starters): £25,000/year · written off after 40 years · interest RPI only GOV.UK · 2026/27
  • Plan 4 (Scotland / SAAS): £33,795/year · written off after 30 years · interest lower of RPI or BoE base rate + 1% gov.scot · 2026/27

Repayments are collected through PAYE by your employer. If you are self-employed, you repay through Self Assessment. The calculator assumes a stable income across the full year and does not model salary growth, part-year earnings or voluntary overpayments.

Frequently asked questions

How is my student loan repayment calculated?
You repay 9% of your income above your plan's threshold. For Plan 2 (2026/27) the threshold is £29,385, so on a £40,000 salary you repay 9% of £10,615 = £955.35 per year (£79.61/month). Plan 5 uses a £25,000 threshold and Plan 4 (Scotland) uses £33,795.
What is the difference between Plan 2, Plan 5 and Plan 4?
Plan 2 applies to English students who started university between 2012 and 2022 (threshold £29,385, written off after 30 years). Plan 5 applies to English students from 2023 onwards (threshold £25,000, written off after 40 years). Plan 4 applies to Scottish SAAS loans (threshold £33,795, written off after 30 years). All repay at 9% above the threshold.
When is my student loan written off?
Plan 2 and Plan 4 loans are written off 30 years after the April you were first due to repay. Plan 5 loans are written off after 40 years. If you die or become permanently unable to work, the loan is also written off.
Does interest affect my monthly repayment?
No. Your monthly repayment is based only on your income (9% above the threshold), not on your interest rate or balance. Interest affects how fast the balance grows and whether you will repay it all before write-off.
What is the interest rate on my student loan?
Plan 2 charges RPI plus up to 3% on a sliding scale linked to income. Plan 5 charges RPI only. Plan 4 (Scotland) charges the lower of RPI or the Bank of England base rate plus 1%. Interest rates are set each September based on RPI.
Do I repay if I earn below the threshold?
No. If your income is below your plan's threshold you make no repayments at all. The balance still accrues interest, but you will not pay anything until your income rises above the threshold.

Related calculators

Income Tax Calculator · Salary Calculator (take-home) · National Insurance Calculator · Child Benefit Charge Calculator

Sources

  • GOV.UK — Student loans: a guide to terms and conditions 2026 to 2027: gov.uk
  • Scottish Government — Student support (Plan 4): gov.scot
  • GOV.UK — Student loans interest rates and repayment threshold announcement: gov.uk
  • House of Commons Library — Student loans: interest rates and repayment thresholds FAQs: commonslibrary.parliament.uk

Casvia provides educational calculators and general information. It does not provide personal financial, tax or investment advice.