What is the UK Student Loan Repayment Calculator?
This calculator applies to the United Kingdom and estimates how much you repay towards your student loan based on the official 2026/27 repayment plans set by the Student Loans Company. You only repay on income above your plan's annual threshold, and the rate depends on whether your loan is an undergraduate or postgraduate loan.
How to use it
Enter your gross annual income and select your repayment plan. The tool returns your estimated annual, monthly and weekly repayment, along with the threshold and rate used. If your income is below the threshold, your repayment is £0.
The formula explained
Repayment equals the portion of income over the threshold multiplied by your repayment rate:
$$\text{Repayment} = (\text{Income} - \text{Threshold}) \times \text{Rate}$$
Plans 1, 2, 4 and 5 use a \(9\%\) rate; Postgraduate loans use \(6\%\). The thresholds used here are: Plan 1 £26,900, Plan 2 £29,385, Plan 4 (Scotland) £33,795, Plan 5 £25,000, and Postgraduate £21,000.
Worked example
Suppose you earn £40,000 on Plan 2 (threshold £29,385). Income above the threshold is $$£40{,}000 - £29{,}385 = £10{,}615.$$ At 9% that is $$£10{,}615 \times 0.09 = £955.35 \text{ per year},$$ or about £79.61 per month.
FAQ
Which plan am I on? Generally it depends on when and where you started your course. English students starting after August 2023 are usually Plan 5; 2012–2023 starters are Plan 2; Scottish students are on Plan 4.
Are repayments based on total income or income above the threshold? Only income above the threshold counts — you keep everything below it.
Is this exact? It is an estimate. Real payroll deductions are calculated per pay period and rounded, and interest does not affect the amount you repay each year. Always check your payslip and the official gov.uk figures.
