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Student Loan Repayment Calculator: What Will You Pay Back?
How much will you repay each month?
Most people can get more support than they expect. Answer three quick questions to get an estimate.
Are you working in the UK (around 10+ hours a week) or self-employed?
Household income means your partner’s income (or your parents’ income if you’re under 25 and supported by them), before tax.
Still not sure if you qualify? Check your eligibility with an advisor - free.
Check if you’re eligibleStudent loan repayments work differently from a bank loan. You pay nothing until you earn over a set threshold - then you only repay a small share of what you earn above that. Move the slider to see your estimate.
Still have questions? Book a free consultation with our team - it’s free, with no obligation.
Book a free consultationHow to use this calculator
- Choose your repayment plan. Most people who started a course in September 2023 or later are on Plan 5, which is selected by default.
- Enter your expected salary. The estimate updates as you move the slider.
- Check your results. See your estimated monthly and yearly repayment, and how it changes as your salary rises.
How student loan repayments are calculated
You only repay on the part of your salary that is above the threshold - £25,000 a year on Plan 5 - and you repay 9% of that part, not of your whole salary. If you are employed, it is taken automatically through your pay, in the same way as income tax; if you are self-employed, it is collected through your Self Assessment tax return. Either way, there is no separate student loan bill to arrange.
Because the amount is tied to your income, it behaves more like a graduate contribution than a debt. Earn less and you pay less; earn nothing above the threshold and you pay nothing. The official thresholds for each plan are published on gov.uk.
What you would repay (Plan 5)
| Your salary | You earn above £25,000 | You repay |
|---|---|---|
| £22,000 | £0 | £0 a month |
| £30,000 | £5,000 | around £37 a month (about £450 a year) |
| £45,000 | £20,000 | around £150 a month (about £1,800 a year) |
Which repayment plan are you on?
| Plan | Who is on it | Threshold (a year) | Written off after |
|---|---|---|---|
| Plan 5 | Course started September 2023 or later (most new students) | £25,000 | 40 years |
| Plan 2 | Course started between 2012 and July 2023 | £29,385 | 30 years |
| Plan 1 | Older loans, taken before 2012 | £26,900 | 25 years |
| Postgraduate | Master’s or Doctoral loan | £21,000 | 30 years |
If you are not sure which plan you are on, you can check it in your online student finance account, and the calculator lets you compare them.
When is a student loan written off?
On Plan 5, anything still owed is written off 40 years after the April you were first due to repay - you never pay beyond that point. Repayments also stop automatically any time your income drops below the threshold or you stop working, and start again only when you are earning above it. It is not collected like an ordinary bank loan: repayments come out of your pay and pause by themselves whenever you earn below the threshold.
What about interest?
Interest is added to your loan from the day the first payment is made to your university, and it keeps building while you study and after you leave. On Plan 5 the rate is set at the Retail Price Index (RPI) - the standard measure of inflation - rather than the higher income-linked rates that applied to older plans. The government sets the exact rate and it changes each year, so check the current figure on gov.uk.
The key thing to know is that interest never increases your monthly repayment. That always stays at 9% of what you earn above the threshold, whatever the interest rate - so a higher rate can never push your monthly payment up. Interest only affects the total balance over the life of the loan, and how much difference that makes to you depends on your earnings over your career.
How much can you borrow in the first place?
This page is about paying a loan back. To see how much tuition and maintenance funding you could get - including with pre-settled, settled, Ukraine or refugee status - see how much you can get.
Related calculators and guides
Frequently asked questions
How much will I repay on my student loan?
On Plan 5 you repay 9% of whatever you earn above £25,000 a year. At a salary of £30,000 that is about £37 a month; below £25,000 you repay nothing. Use the calculator above for your own figure.
When is a student loan written off?
On Plan 5, 40 years after the April you were first due to repay. Anything left at that point is cancelled. Other plans have different write-off periods - see the table above.
Do I pay back the maintenance loan and the tuition loan separately?
No. They are combined into one balance and repaid together as a single income-based deduction.
What if I earn under £25,000, or lose my job?
You repay nothing. Repayments pause automatically whenever your income is below the threshold and restart only when you are earning above it again.
Is it taken from my salary automatically?
Yes - if you are employed, through PAYE, in the same way as income tax. If you are self-employed, it is collected through your Self Assessment tax return.
Still weighing up whether studying is worth it? Book a free consultation - there is no obligation.
Book a free consultationThis is general information about Student Finance England; the rules differ in Scotland, Wales and Northern Ireland. Estimates are approximate - Student Finance England works out your actual repayment from your real income. Always confirm current figures on gov.uk. Figures: England, 2026/27.