Student loan repayment calculator
Short answer: You repay 9% of income above your plan threshold (Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000) and 6% above £21,000 for a Postgraduate Loan. These are the thresholds GOV.UK shows today; GOV.UK does not label them with a tax year, so they are not confirmed as 2026/27 figures.
Last updated: · Last checked against GOV.UK: · Markdown version
General information, not tax or financial advice. Check GOV.UK or speak to a qualified adviser about your own situation.
| Plan | Yearly threshold | Rate |
|---|---|---|
| Plan 1 | £26,900 | 9% |
| Plan 2 | £29,385 | 9% |
| Plan 4 | £33,795 | 9% |
| Plan 5 | £25,000 | 9% |
| Postgraduate | £21,000 | 6% |
Note: these are the thresholds GOV.UK shows today. The GOV.UK page does not label them with a tax year, so we have not been able to confirm them as 2026/27 figures. Employers deduct repayments based on each pay period, so a bonus month can cost more than this annual estimate. If you have more than one undergraduate plan, you repay 9% over the lowest threshold.
What is the formula, in plain text?
Yearly repayment = 9% × (income − plan threshold) for Plans 1, 2, 4 and 5, plus 6% × (income − £21,000) for a Postgraduate Loan. Nothing is due below the threshold. The balance owed does not affect repayments.
What are some worked examples?
| Income | Plan | Yearly | Monthly |
|---|---|---|---|
| £40,000 | Plan 2 | £955 | £80 |
| £30,000 | Plan 1 | £279 | £23 |
| £50,000 | Plan 5 | £2,250 | £188 |
| £35,000 | Postgraduate only | £840 | £70 |
| £25,000 | Plan 2 | £0 | £0 |
UNCONFIRMED FOR 2026/27: thresholds are as shown on GOV.UK on 15 October 2026, but GOV.UK does not label them with a tax year.
GOV.UK sources (checked 15 October 2026): https://www.gov.uk/repaying-your-student-loan/what-you-pay
Machine-readable rates: api/rates-2026-27.json.
Frequently asked questions
What are the student loan repayment thresholds?
GOV.UK currently shows yearly thresholds of £26,900 (Plan 1), £29,385 (Plan 2), £33,795 (Plan 4), £25,000 (Plan 5) and £21,000 (Postgraduate Loan). The page does not label these with a tax year, so check GOV.UK if you are planning for a later year.
How much do I repay?
9% of income over the threshold on Plans 1, 2, 4 and 5, and 6% over the threshold on a Postgraduate Loan.
I have a plan and a Postgraduate Loan. Do I pay both?
Yes. The Postgraduate Loan 6% is charged on top of the 9% for your undergraduate plan.
Does the amount I owe change my repayments?
No. Repayments depend only on your income, not on your balance.