This free comprehensive UK student loan repayment calculator offers a straightforward way for students to understand the actual cost of repaying their loans. Designed for clarity and simplicity, it covers Plan 1, Plan 2, Plan 4, Plan 5, and Postgraduate plan types, helping students see exactly what they owe, repayment costs, and how long it will take to pay off. By entering a few basic details, students can quickly calculate their expected monthly repayments and understand the impact of their income on student loan repayment.
Whether you’re a new graduate, postgraduate, or already repaying, this student loan repayment tool provides valuable insights to help you manage your student loan debt efficiently.
Student Loan Repayment Calculator
Enter your student loan details below to get a real-time debt payoff cost calculation.
Key Information:
Understanding Your Student Loan
Your student loan repayments are automatically deducted from your salary when you earn above the threshold for your loan type. The amount you repay depends on your income, not the amount you borrowed. After 30 years (or 40 years for Plan 5), any remaining loan is written off, regardless of the amount.
When do you start repaying?
You’ll start repaying your loan the April after you graduate and only when your income is above the repayment threshold for your loan type.
How is interest calculated?
Interest rates vary depending on your loan plan and income level. They’re based on the Retail Price Index (RPI) plus a percentage that varies between loan plans.
Please Note: This calculator does not constitute financial advice.
Stay informed about government student loan policy, understand your student debt repayment schedule, and see how changes in income affect your graduate loan repayment plan. Use our UK student finance tool today to get accurate projections for your loan repayment threshold and total repayment amount.
Those student who are enrolled in various parts of UK’s colleges and university in different programs from England, Scotland, Wales, Northern Ireland and have taken a student loan, can use this student loan repayment calculator, this student loan calculation tool simplifies the process of calculating your student loan repayments.
Student loan repayment calculator is very useful If you have taken out a student loan to cover your tuition fees or living expenses this student loan repayment calculator will helps you to easily estimate pay off cost how much you will need to repay based on factors such as your income threshold, repayment plan and loan type.
How to use student loan repayment calculator
This student loan repayment calculator works in 6 simple steps following infographic image describe all these steps.
Understanding Your Student Loan Repayments
Your student loan repayments are automatically deducted from your salary once you earn above the repayment threshold for your loan type. The amount you repay depends on your income, not the amount you borrowed.
After 30 years (or 40 years for Plan 5), any remaining loan is written off, regardless of the amount.
When Do You Start Repaying?
You’ll start repaying your student loan the April after you graduate, and only when your income exceeds the repayment threshold for your loan type.
How is Interest Calculated?
Interest rates vary depending on your loan plan and income level. They’re based on the Retail Price Index (RPI) plus a percentage that varies between loan plans.
📌 Stay informed about UK student loan policy and use our UK student finance tool to get accurate projections for your loan repayment threshold and total repayment amount.
Who Can Use This Student Loan Repayment Calculator?
If you have taken a student loan to cover your tuition fees or living expenses, this free UK student loan repayment calculator helps you estimate:
✅ How much you might repay based on income threshold
✅ Time left to pay off your student debt
✅ Interest on student loans for Plan 1, 2, 4, 5, and postgraduate loans
How to Use the Student Loan Repayment Calculator?
This student finance calculator works in 6 simple steps:
1️⃣ Enter total loan amount (£)
2️⃣ Enter annual salary (£)
3️⃣ Select repayment plan
4️⃣ Enter the correct captcha code
5️⃣ Click on “Calculate Repayment” button
6️⃣ View repayment details in a visual graph with calculations
🔄 Reset button allows you to start a new calculation
When Will You Pay Back Your Student Loan?
Student loan repayments are required only when your pre-tax salary exceeds the repayment threshold for your specific loan plan.
💰 Repayment breakdown per plan type:
- Plan 1, Plan 2, Plan 4, and Plan 5: Pay 9% of any income above the threshold
- Postgraduate Loans: Pay 6% of income above the threshold
📌 Each loan type has different repayment thresholds, which vary depending on the year and your country of residence. This UK student loan repayment calculator adjusts for your loan type and income to provide accurate estimates.
How Does the Student Loan Repayment Calculator Work?
This student debt repayment calculator factors in:
🔹 Your current salary (pre-tax income)
🔹 Student loan plan type (Plan 1, 2, 4, 5, Postgraduate)
🔹 Future salary increases and inflation impact
🔹 Annual changes to repayment thresholds
🔹 Interest rates on student loans
The calculator provides a detailed estimate of your student loan repayments based on these factors, ensuring accurate projections as your financial situation changes.
Types of UK Student Loan Plans
📌 Plan 1: For students who joined university before 2012 in the UK. Repay 9% of income above the threshold.
📌 Plan 2: For students who started university in England or Wales after 2012. Repay 9% of income above the threshold.
📌 Plan 4: For Scottish students (similar to Plan 1 and 2). Repay 9% of income above the threshold.
📌 Plan 5: For students new to student loans, works like Plan 2.
📌 Postgraduate Loans: For Master’s or PhD students. Repay 6% of income above the threshold.
Interest Rates on UK Student Loans
Interest rates determine how long it takes to clear student debt.
📌 How Interest Rates Are Calculated?
💰 Your Student Loan Plan: Different plans (Plan 1, 2, 4, 5, Postgraduate) have different interest rates.
📈 The Inflation Factor: Based on Retail Price Index (RPI). Higher inflation = higher interest rates.
💼 Your Current Income: Some plans adjust interest rates based on earnings. Higher income = higher interest rate.
📌 Why This Matters?
Interest accumulates over time, meaning the total amount owed may exceed the original loan.
Frequently Asked Questions (FAQs)
❓ When do I start repaying my student loan?
✅ Repayments begin in April after you graduate or when your salary exceeds the repayment threshold.
❓ Is this calculator free to use?
✅ Yes, our student loan repayment calculator is completely free.
❓ Can postgraduate students use this calculator?
✅ Yes, our tool supports Postgraduate Loans with a 6% repayment rate above the threshold.
❓ Will my student loan ever be written off?
✅ Yes, student loans in the UK are written off after 30-40 years, depending on the loan plan.