UK Student Loan Repayment Calculator
Understand your graduate loan balance, calculate salary-linked repayments, simulate voluntary overpayments, and project the final write-off date.
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Repayment Schedule
| Year | Starting Balance | Gross Salary | Standard Repayments | Additional Repayments | Interest Accrued | Ending Balance | Cumulative Paid |
|---|---|---|---|---|---|---|---|
| 1 | £45,000.00 | £35,000.00 | £505.35 | £0.00 | £1,986.39 | £46,481.04 | £505.35 |
| 2 | £46,481.04 | £36,050.00 | £599.85 | £0.00 | £2,126.60 | £48,007.79 | £1,105.20 |
| 3 | £48,007.79 | £37,131.50 | £697.19 | £0.00 | £2,276.16 | £49,586.76 | £1,802.39 |
| 4 | £49,586.76 | £38,245.45 | £797.44 | £0.00 | £2,435.95 | £51,225.27 | £2,599.83 |
| 5 | £51,225.27 | £39,392.81 | £900.70 | £0.00 | £2,606.93 | £52,931.50 | £3,500.53 |
| 6 | £52,931.50 | £40,574.59 | £1,007.06 | £0.00 | £2,790.24 | £54,714.67 | £4,507.59 |
| 7 | £54,714.67 | £41,791.83 | £1,116.61 | £0.00 | £2,987.13 | £56,585.18 | £5,624.21 |
| 8 | £56,585.18 | £43,045.59 | £1,229.45 | £0.00 | £3,199.05 | £58,554.78 | £6,853.66 |
| 9 | £58,554.78 | £44,336.95 | £1,345.68 | £0.00 | £3,427.67 | £60,636.78 | £8,199.33 |
| 10 | £60,636.78 | £45,667.06 | £1,465.39 | £0.00 | £3,674.90 | £62,846.29 | £9,664.72 |
Worked example
On a starting salary of £35,000 with a £45,000 Plan 2 student loan: your initial yearly repayments will be £505.35. Over the 30-year term (assuming a 3% salary growth), you will pay a cumulative total of £70,523.06, with the remaining balance of £118,043.30 being written off.
Frequently asked questions
How are UK student loan repayments calculated?
Repayments are calculated as a percentage of your earnings above your plan's specific threshold. Plan 1 threshold is £26,900 (9%), Plan 2 is £29,385 (9%), Plan 4 is £33,795 (9%), Plan 5 is £25,000 (9%), and Postgraduate is £21,000 (6%). Pre-tax payments are collected directly through PAYE.
When are UK student loans written off?
Outstanding balances are written off after a set period from when they enter statutory repayment. Under current rules: Plan 1, Plan 2, Plan 4, and Postgraduate loans are written off after 30 years. Plan 5 loans (for students starting from September 2023) are written off after 40 years.
Should I pay off my UK student loan early?
For most lower and middle earners, the loan will be written off before being fully repaid, meaning voluntary overpayments are essentially lost money. For high earners who will fully repay the loan, paying it off early saves on compounding interest. Use this calculator's overpayment simulation to model your specific trajectory.