Calculate your monthly student loan repayments
My Student Loan is a free calculator for UK students and graduates to work out their monthly and annual student loan repayments based on their salary and loan plan type.
This calculator is designed for anyone with a UK student loan (Plan 1, Plan 2, Plan 4 Scotland, or Plan 5) who wants to understand how much they'll pay back each month. Whether you're a current student planning ahead, a recent graduate entering work, or an established professional managing your finances, this tool helps you calculate accurate repayment amounts based on current Student Loans Company thresholds.
All calculations are performed in your browser using current 2026/27 Student Loans Company thresholds. No salary information is collected or stored.
Student loan repayments are taken automatically from your salary through PAYE if you're employed, or you pay through self-assessment if you're self-employed. You only start repaying once you earn above the threshold for your loan plan.
| Plan Type | Annual Threshold | Rate |
|---|---|---|
| Plan 1 | £24,990 | 9% |
| Plan 2 | £27,295 | 9% |
| Plan 4 | £31,395 | 9% |
| Plan 5 | £25,000 | 9% |
You're on Plan 1 if you:
You're on Plan 2 if you:
You're on Plan 4 if you:
You're on Plan 5 if you:
Repayments are calculated based on how much you earn above the threshold for your plan type:
| Plan Type | Written Off After |
|---|---|
| Plan 1 | 25 years or when you reach 65 |
| Plan 2 | 30 years |
| Plan 4 | 30 years |
| Plan 5 | 40 years |
You can make voluntary repayments at any time if you want to pay off your loan faster. However, remember:
If you have more than one job, repayments are calculated separately for each employer based on what they pay you. You may need to contact the Student Loans Company if you're overpaying.
Self-employed workers make repayments through their Self Assessment tax return. You'll pay based on your profits, not your turnover.
Yes, you still need to repay your student loan if you move abroad. You'll need to contact the Student Loans Company to arrange payments. Thresholds may differ depending on where you live.
No. Student loans don't appear on your credit report and don't affect your credit score. However, lenders may consider your student loan repayments when assessing mortgage affordability.
Yes, you can check your loan balance by logging into your Student Loan Company account online. You'll see how much you owe and how much you've repaid.