Student loan calculator
Choose your plan, then type what you owe, your salary and the year repayments started. It shows what you'd repay in total, and when the loan is cleared or written off. Promotions, career breaks and extra payments are under More options.
- Repayments depend on your income, not on what you owe.
- Anything left at the write-off date is cancelled.
- If you wouldn't clear the loan before it's written off, paying extra can mean you pay more in total.
Budget what lands
Your repayment comes out before you see your pay. Calm Money: UK Budget App starts from what lands and shows what's safe to spend.
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Each plan, 2026 to 2027
Plan 1
Courses in England or Wales that started before 1 September 2012, and loans from Northern Ireland. 9% of pay over £26,900 a year (£28,005 from April 2027). Interest is the lower of RPI and the Bank of England base rate plus 1%: 4.1% from 1 September 2026. Written off 25 years after the April you were first due to repay, or at 65 for loans first paid before 1 September 2006.
Plan 2
Courses in England or Wales that started between 1 September 2012 and 31 July 2023. 9% of pay over £29,385 a year, held there until April 2030. Interest runs from RPI to RPI plus 3% as income rises from £29,385 to £52,885, and is capped at 6% until 31 August 2027. Written off 30 years after the April you were first due to repay.
Plan 4
Loans from Scotland. 9% of pay over £33,795 a year. Interest is the lower of RPI and the Bank of England base rate plus 1%: 4.1% from 1 September 2026. Written off 30 years after the April you were first due to repay, or at 65 for loans first paid before 1 August 2007 if that comes sooner.
Plan 5
Courses in England that started on or after 1 August 2023. 9% of pay over £25,000 a year. Interest is RPI: 4.1% from 1 September 2026. Written off 40 years after the April you were first due to repay.
Postgraduate Loan
Master's and doctoral loans from England or Wales. 6% of pay over £21,000 a year, on top of any Plan 1, 2, 4 or 5 repayment. Interest is RPI plus 3%, capped at 6% until 31 August 2027. Written off 30 years after the April you were first due to repay.
Questions
What does it assume?
Your pay rises each April by the percentage you give. Interest follows the rates announced for September 2026 to August 2027, then the inflation you set. Thresholds are as announced, so Plan 2's stays frozen until April 2030, then rises with inflation.
Where do I find the year repayments started?
It's the April after you left your course, or the one you're due to start repaying in. Your loan account shows it.
Why does Plan 2 interest change with pay?
After the April you leave, it scales from inflation to inflation plus 3% as your pay moves through the Plan 2 band. Until 31 August 2027 it's capped at 6%.
What if I have two plans?
Add a second plan. Plans 1, 2, 4 and 5 share one 9% over the lowest threshold, and a Postgraduate Loan takes 6% on top. Extra payments go against the first plan.
Can I get money back?
If your pay for the whole tax year was under your plan's yearly threshold, you can ask for a refund.
Where the figures come from
The rates in force, checked 24 October 2026:
- Repayment thresholds: 9% over the threshold, 6% for a Postgraduate Loan
- Thresholds for employers, 2026 to 2027
- Student loans: a guide to terms and conditions 2026 to 2027: how interest is worked out, the Plan 2 income band, write-off
- Interest rates from 1 September 2026 and the Plan 1 threshold from April 2027, announced 10 August 2026
- The 6% cap on Plan 2 and Postgraduate interest until 31 August 2027, announced 7 April 2026
- The Plan 2 threshold held at £29,385 for three years from April 2027, in Budget 2025
- When each plan is written off
Updated