Student Loan Calculator
Calculate student loan repayments (Plan 1, 2, 4, Postgrad)
1
Enter your gross annual salary before tax and deductions.
Enter your total gross annual income from employment. This is your salary before any deductions like tax, National Insurance, or pension. If you have multiple jobs, add them together. If you're self-employed, use your total taxable profit. Student loan repayments are based on what you actually earn, not what your loan balance is.
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2
Check your loan statement or Student Loans Company account if you're unsure.
Plan 1: Started before September 2012 in England/Wales, or anytime in Scotland/Northern Ireland before 2012. Repay 9% above £24,990. Plan 2: Started September 2012 or later in England/Wales. Repay 9% above £27,295. This is the most common plan for recent graduates. Plan 4: Scottish students who started from 1998. Repay 9% above £31,395. Postgraduate: Master's or PhD loan taken after August 2016. Repay 6% above £21,000. You can check your plan at gov.uk/sign-in-to-manage-your-student-loan-balance.
3
Optional: enter your current loan balance to estimate time to repay.
Log in to your Student Loans Company account to see your current balance. Remember, the balance includes interest which is added daily. For Plan 2 loans, interest is RPI + up to 3% depending on your income. Don't worry too much about the total - most people never repay in full before the loan is written off (25-30 years depending on plan). Focus on your monthly repayment amount instead.
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How to Use This Calculator
1
Enter your annual gross income from employment2
Select your student loan plan type3
Optionally add your outstanding balance for time-to-repay estimates1
Enter your annual gross income from employment2
Select your student loan plan type3
Optionally add your outstanding balance for time-to-repay estimates4
See your monthly repayments and how long it will take to repay