Student loan repayment calculator 2026/27
What comes off your pay each month on your plan, the interest you are charged at your income, and when the loan is cleared or written off.
Not cleared before it is written off in April 2051: about £90,357 would be written off, after £45,816 of repayments.
Your rate is RPI + 2.6%, in proportion to where your income sits between the thresholds: at £49,400 of pay the formula gives 6.7%, held at the 6% cap for now. Below £29,385 the rate is RPI (4.1%); it rises in proportion up to RPI + 3% at £52,885.
If the loan would not clear, overpayments and higher repayments raise what you repay without changing the write-off date.
Each extra £1 you earn costs 9p in repayments while you have the loan, on top of tax and National Insurance. Assumes pay grows 2.0% a year, thresholds rise with inflation, and today's interest rules hold. Change the assumptions
Year by year
| Tax year | Pay assumed | Rate | Repaid | Interest | Balance at end |
|---|---|---|---|---|---|
| 2026/27 | £49,400 | 6.0% | £1,800 | £2,725 | £45,925 |
| 2027/28 | £50,388 | 6.0% | £1,800 | £2,782 | £46,907 |
| 2028/29 | £51,396 | 6.0% | £1,812 | £2,842 | £47,938 |
| 2029/30 | £52,424 | 6.0% | £1,824 | £2,906 | £49,020 |
| 2030/31 | £53,472 | 6.0% | £1,824 | £2,972 | £50,168 |
| 2031/32 | £54,542 | 6.0% | £1,836 | £3,043 | £51,375 |
| 2032/33 | £55,632 | 6.0% | £1,848 | £3,117 | £52,644 |
| 2033/34 | £56,745 | 6.0% | £1,848 | £3,195 | £53,991 |
| 2034/35 | £57,880 | 6.0% | £1,848 | £3,278 | £55,422 |
| 2035/36 | £59,038 | 6.0% | £1,860 | £3,366 | £56,928 |
| 2036/37 | £60,218 | 6.0% | £1,860 | £3,459 | £58,527 |
| 2037/38 | £61,423 | 6.0% | £1,860 | £3,558 | £60,225 |
| 2038/39 | £62,651 | 6.0% | £1,860 | £3,637 | £62,002 |
| 2039/40 | £63,904 | 5.9% | £1,860 | £3,708 | £63,850 |
| 2040/41 | £65,182 | 5.9% | £1,860 | £3,786 | £65,776 |
| 2041/42 | £66,486 | 5.8% | £1,860 | £3,868 | £67,784 |
| 2042/43 | £67,816 | 5.7% | £1,848 | £3,945 | £69,881 |
| 2043/44 | £69,172 | 5.7% | £1,848 | £4,033 | £72,066 |
| 2044/45 | £70,555 | 5.6% | £1,836 | £4,123 | £74,353 |
| 2045/46 | £71,966 | 5.6% | £1,836 | £4,217 | £76,734 |
| 2046/47 | £73,406 | 5.5% | £1,824 | £4,314 | £79,224 |
| 2047/48 | £74,874 | 5.5% | £1,812 | £4,414 | £81,826 |
| 2048/49 | £76,371 | 5.4% | £1,800 | £4,518 | £84,544 |
| 2049/50 | £77,899 | 5.4% | £1,788 | £4,626 | £87,383 |
| 2050/51 | £79,457 | 5.3% | £1,764 | £4,738 | £90,357 |
| Total | £45,816 | £91,173 | £90,357 written off |
Methodology and assumptions
Repayments are 9% of pay above the plan's threshold, worked out each month and rounded down to the pound as payroll does, on the same pay as National Insurance (so salary sacrifice lowers them). Interest is added to the balance monthly at the plan's rate for the year: on Plan 2 that is RPI at or below £29,385 of income, rising in proportion to RPI + 3% at £52,885, and never more than the 6% cap the Student Loans Company is applying. Each April your pay grows by your assumption, and the thresholds and Plan 2's income bands by inflation; RPI is held at this year's figure. The loan is written off 30 years after the April you were first due to repay.
What this cannot know
Future RPI, caps and policy. Interest while studying (RPI + 3%). Pay that changes within a year, time out of work, or a move abroad. Plan 1 loans from before September 2006 and Plan 4 loans from before August 2007, which are written off at 65. A second plan running alongside: enter each separately.
Questions people ask
Should I overpay?
Overpaying only changes what you pay in total if you would clear the loan before it is written off. If you would not, each £1 overpaid is £1 more you repay and £1 less that is written off. Set an overpayment above and the chart shows both cases.
Why does my interest rate change when my pay changes?
Plan 2 interest scales with income: RPI at the lower threshold, RPI + 3% at the upper, in proportion between. The other plans are flat. All are capped when market rates are lower, which is why the rate shown may be below the formula.
Does salary sacrifice reduce my repayments?
Yes. Repayments are taken on the same pay as National Insurance, so pay given up by salary sacrifice is not counted. That lowers the monthly repayment, which means the loan runs longer if you would clear it, or costs you nothing if you would not.