Use the calculator
How this calculator works
Student loan repayments in the UK depend on your income, not on how much you owe. You repay a percentage of income above a threshold, and the threshold depends on your repayment plan. For employees, repayments are taken through payroll each pay period.
Enter your gross annual income (before tax, including regular overtime and bonuses) and choose your plan. The calculator divides your income by 12, takes away the monthly threshold for your plan and charges 9% of the rest for Plans 1, 2, 4 and 5, or 6% for a Postgraduate Loan. As in the GOV.UK examples, the monthly amount is rounded down to the nearest pound. If you have a Postgraduate Loan as well as an undergraduate plan, both repayments are taken at the same time, each against its own threshold.
Worked examples
These results come from this calculator. The method reproduces the two GOV.UK examples: £45 a month on Plan 1 at £33,000, and £16 a month on Plan 4 at £36,000.
Example 1: Plan 5 on £38,000
Monthly income is £3,166.67. The Plan 5 monthly threshold is £2,083.33, so £1,083.33 is above it. 9% of that is £97.50, rounded down to £97 a month, or £1,164 a year.
Example 2: Plan 2 and a Postgraduate Loan on £45,000
Monthly income is £3,750. Plan 2: 9% of £1,301.25 above the £2,448.75 threshold is £117. Postgraduate Loan: 6% of £2,000 above the £1,750 threshold is £120. Total repayments are £237 a month, or £2,844 a year.
Example 3: Plan 2 on £28,000
Income is below the Plan 2 threshold of £29,385, so the repayment is £0. Interest is still added to the balance, as GOV.UK explains, even when you are not repaying.
2026/27 thresholds and repayment rates
| Plan | Yearly threshold | Monthly threshold | Rate above threshold |
|---|---|---|---|
| Plan 1 | £26,900 | £2,241.66 | 9% |
| Plan 2 | £29,385 | £2,448.75 | 9% |
| Plan 4 | £33,795 | £2,816.25 | 9% |
| Plan 5 | £25,000 | £2,083.33 | 9% |
| Postgraduate Loan | £21,000 | £1,750 | 6% |
Thresholds are the 2026 to 2027 employer figures published by HMRC. Interest rates are set separately and can change during the year; GOV.UK lists the current rates for each plan.
Assumptions and what this calculator does not cover
- Pay is assumed to be the same every month. Payroll works each pay period, so a bonus or overtime month can trigger a repayment even if your yearly income is below the threshold. You can ask for a refund if your income for the whole tax year is below the yearly threshold.
- Weekly or four-weekly pay: repayments are worked out against weekly thresholds instead, which can give a slightly different total.
- More than one undergraduate plan: if you have loans on two undergraduate plans, repayments follow special rules. The calculator handles one undergraduate plan plus a Postgraduate Loan.
- Self-employed income: repayments are collected through Self Assessment on your yearly income, so the timing differs.
- Balance and interest: the calculator does not estimate how long it will take to repay, the interest added or when the loan will be written off.
Which plan am I on?
Your plan depends on where you lived and when your course started. Broadly, Plan 1 covers older loans from England and Wales and loans from Northern Ireland, Plan 2 covers loans for courses in England and Wales that started between September 2012 and July 2023, Plan 4 covers loans from Scotland, and Plan 5 covers loans for courses in England starting from August 2023. Check GOV.UK or your Student Loans Company online account to confirm, because using the wrong plan can change the result significantly.
Repayments reduce take-home pay alongside tax and National Insurance. To see the combined effect, run your salary through the take-home pay calculator or the Scottish take-home pay calculator and subtract the repayment shown here.
Frequently asked questions
Does the size of my loan change my monthly repayment?
No. Repayments depend only on your income above the threshold for your plan. The balance affects how long you repay for and how much interest builds up, not the monthly amount.
What happens if I earn less than the threshold?
You repay nothing, but interest is still added. If repayments were taken in a month when you earned more, you can ask for a refund at the end of the tax year if your annual income was below the threshold.
Can I have a Postgraduate Loan and an undergraduate loan at the same time?
Yes. Both repayments are taken together, each against its own threshold: 9% above your undergraduate plan threshold and 6% above the Postgraduate Loan threshold.
Should I make extra repayments?
It depends on your plan, your balance and whether the loan is likely to be written off before you repay it in full. Extra repayments cannot usually be refunded. Read the GOV.UK guidance before deciding.
Are repayments taken before or after tax?
Repayments are based on your gross income but are taken from your pay at the same time as tax and National Insurance. They do not reduce the tax you pay.
Sources
- GOV.UK: Repaying your student loan – how much you repay
- GOV.UK (HMRC): Rates and thresholds for employers 2026 to 2027
- GOV.UK: Which student loan repayment plan you are on
- GOV.UK: Make extra student loan repayments
- GOV.UK: When your student loan gets written off or cancelled
Rates for tax year 2026/27, last reviewed October 2026.
Results are estimates for planning, not financial or tax advice. See our terms and methodology.