Student Loan Repayment UK 2026/27 — Thresholds, Plans, and Write-Off Dates Student Loan Repayment Calculator UK — How Much Will You Pay? Calculate your student loan repayments. Thresholds for Plans 1-5, how much is deducted from your salary, and when your loan gets written off.
By James Whitfield
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23 March 2026
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Last reviewed: 16 September 2026
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4 min read Student loan repayments depend on your income and loan plan type. Here’s how to calculate exactly what you’ll pay.
Which Plan Are You On? Identifying Your Plan Plan When/Where You Studied Plan 1 England/Wales before Sept 2012 Plan 2 England/Wales Sept 2012 - July 2023 Plan 4 Scotland Plan 5 England from Aug 2023 Postgraduate Master’s/Doctoral loans
If Unsure Check How Student Loans Company Login to account Payslip Shows plan type When you started Generally indicates
Current Thresholds 2026/27 Annual Thresholds Plan Annual Monthly Weekly Plan 1 £26,900 £2,242 £517 Plan 2 £29,385 £2,449 £565 Plan 4 £33,795 £2,816 £650 Plan 5 £25,000 £2,083 £480 Postgraduate £21,000 £1,750 £403
Repayment Rates Plan Type Rate Plan 1, 2, 4, 5 9% of income above threshold Postgraduate 6% of income above threshold
Calculating Repayments Calculation Process Take annual salary Your gross pay Subtract threshold Your plan’s threshold Multiply by 9% (or 6% for PG) = Annual repayment Divided by 12 for monthly
Plan 2 Examples Salary Above Threshold Annual Repay Monthly £25,000 £0 £0 £0 £30,000 £615 £55 £4.61 £35,000 £5,615 £505 £42 £40,000 £10,615 £955 £80 £50,000 £20,615 £1,855 £155 £60,000 £30,615 £2,755 £230
Plan 1 Examples Salary Above Threshold Annual Repay Monthly £25,000 £0 £0 £0 £30,000 £3,100 £279 £23 £35,000 £8,100 £729 £61 £40,000 £13,100 £1,179 £98 £50,000 £23,100 £2,079 £173
Plan 4 Examples (Scotland) Salary Above Threshold Annual Repay Monthly £35,000 £1,205 £108 £9 £40,000 £6,205 £558 £47 £50,000 £16,205 £1,458 £122 £60,000 £26,205 £2,358 £197
Postgraduate Loan Examples Salary Above £21,000 Annual (6%) Monthly £25,000 £4,000 £240 £20 £30,000 £9,000 £540 £45 £35,000 £14,000 £840 £70 £40,000 £19,000 £1,140 £95
Multiple Loans If You Have Both Loan Types Repayment Undergraduate + Postgraduate Pay both simultaneously Plan 2 + PG 9% + 6% = 15% If earning above both Both deducted
Combined Example Salary £40,000 Calculation Plan 2 9% × (£40k - £29,385) = £955 Postgraduate 6% × (£40k - £21,000) = £1,140 Total annual £2,095 Monthly £175
Interest Rates Plan 2 Interest Income Rate (2026/27) Below threshold RPI (4.1%) At threshold RPI (4.1%) Above £52,885 RPI + 3%, capped at 6% Between Sliding scale, capped at 6%
Other Plans Plan Interest Plan 1 Lower of RPI or Bank of England + 1% Plan 4 Lower of RPI or Bank of England + 1% Plan 5 RPI only (no additional 3%)
Impact of Interest Reality Consideration Most don’t repay in full Interest often irrelevant Balance grows While earning below Written off anyway At end of term
Write-Off Dates When Loans Are Cancelled Plan Written Off After Plan 1 25 years (or age 65, if sooner) Plan 2 30 years Plan 4 30 years Plan 5 40 years Postgraduate 30 years
Calculating Your Write-Off Plan 2 Example Dates Left course July 2020 First April after April 2021 30 years from April 2051 Written off April 2051
Is Write-Off Tax-Free? What Happens Treatment Balance written off No tax Regardless of amount Even if £50k+ Don’t count against Your income
Should You Overpay? When Overpaying Makes Sense Scenario Consider Overpaying High earner Will repay in full anyway Small balance Near end of repayment Plan 1 Lower threshold, often repay
When Not to Overpay Scenario Don’t Overpay Won’t clear before write-off Money wasted Low/medium earner Unlikely to repay Better uses Savings, pension, debt
Calculation Your Situation Action Total debt £40,000 Annual repayment £2,000 Years to clear 20 Write-off at 30 years Will you repay? Yes, before write-off
Versus Total debt £60,000 Annual repayment £1,500 Years to clear 40 Write-off at 30 years Will you repay? No — will be written off
Self-Employment If Self-Employed Process Details Declare on Self Assessment Income reported HMRC calculates Repayment due Pay with tax By 31 January
Class 2 NI Note Details Repayments Based on profits Same thresholds Apply Same rates 9% / 6%
Repayment While Abroad Working Overseas Requirement Details Must still repay If earning above threshold Country thresholds Different amounts Report income To SLC annually Convert to GBP At official rate
Overseas Thresholds Country Threshold Multiple USA 69% of UK Australia 120% of UK Varies By cost of living
Summary Plan Threshold Rate Write-Off Plan 1 £26,900 9% 25 years Plan 2 £29,385 9% 30 years Plan 4 £33,795 9% 30 years Plan 5 £25,000 9% 40 years Postgrad £21,000 6% 30 years
Key Calculation Example Salary £35,000 Less threshold (Plan 2) -£29,385 Income for repayment £5,615 × 9% £505/year Monthly £42
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