UK Student Loan Calculator
Calculate your repayments for the 2024/25 tax year.
Plan 2: For students who started between 1 Sep 2012 and 31 Jul 2023.
Monthly Repayment
Annual Repayment
£693.45
Income Threshold
£27,295
Years to Clear
36 Years
Repayment Breakdown
Important Note
Most UK student loans are written off (cancelled) after 25, 30, or 40 years depending on your plan, even if you haven't paid them back in full. Interest rates are tied to RPI (Retail Price Index).
Student Loan Repayment Plans (2024/25)
Plan 1
For students who started before 1 September 2012 in England and Wales, or any student from Northern Ireland. Replayments start when earning over £24,990 (2024 boundary).
Plan 2
For students who started between 1 September 2012 and 31 July 2023 in England and Wales. Repayments start at £27,295.
Plan 4
For students from Scotland who started after 1 September 1998. The 2024 threshold is £31,395.
Postgraduate Loan
For Master’s or Doctoral loans in England or Wales. Repayments are 6% of income over £21,000.
How Repayments are Calculated
Repayments are not based on how much you owe, but on how much you earn. You pay a percentage of your salary above the threshold for your plan.
9% of income above the threshold for Plans 1, 2, 4, and 5.
6% of income above the threshold for Postgraduate loans.
Payments are usually deducted automatically by your employer via PAYE.