UK Student Loan Repayment Estimator
Estimate UK student loan compulsory repayments under Plan 2 and Plan 5.
UK Student Loan Repayment Estimator
Plan monthly student loan deductions under Plan 2 or Plan 5 repayment thresholds.
Student Loan Profile
Threshold Details
Educational Purpose Disclaimer
This calculator is provided for informational and educational estimation purposes only. All calculations and projections are based on standard mathematical formulas and assumed inputs. The output values should not be considered professional financial, legal, tax, or medical advice. ProCalc is not a registered financial advisor or licensed practitioner. Always consult a qualified professional (such as a Chartered Accountant, certified planner, or physician) before making major decisions.
What is the UK Student Loan Repayment Estimator?
The UK Student Loan Repayment Estimator helps university graduates in the United Kingdom project their monthly and annual student loan repayments under various repayment plans administered by the Student Loans Company (SLC).
In the UK, student loan repayments are structured like a graduate tax. Instead of paying a fixed amortization installment, repayments are calculated as a percentage of your salary that exceeds a specific plan threshold:
• Repayment Rate (9%): For Plan 1, Plan 2, and Plan 5, you pay 9% of your gross income that exceeds the threshold.
• Plan 2 (Pre-July 2023 Borrowers): Applies to students who started their courses between September 2012 and July 2023. Repayments start when your gross salary exceeds £27,295 per year. Interest rates are higher, linked to RPI inflation.
• Plan 5 (Post-September 2023 Borrowers): Applies to students starting courses from September 2023 onward. Repayments start at a lower threshold of £25,000 per year. Additionally, the loan write-off period is extended from 30 years to 40 years.
• Write-Off Terms: Any outstanding balance is completely written off after 30 years (Plan 2) or 40 years (Plan 5), regardless of how much you have paid back.
This tool calculates your monthly and annual student loan deductions based on your gross income and selected plan, helping you understand how repayments affect your net take-home salary.
How Does the UK Student Loan Repayment Estimator Work?
1. Input gross annual salary. 2. Select loan plan. 3. View estimated monthly and annual student loan repayments.
Formula & Calculation Method
Calculates repayments as 9% of your gross annual salary exceeding the plan threshold. Plan 2 threshold is £27,295. Plan 5 threshold is £25,000.
Example Calculation
Gross salary £35,000 under Plan 2. Excess income = £35,000 - £27,295 = £7,705. Repayment = 9% of £7,705 = £693/yr (£58/mo).
Frequently Asked Questions
Calculates repayments as 9% of your gross annual salary exceeding the plan threshold. Plan 2 threshold is £27,295. Plan 5 threshold is £25,000.
Disclaimer: This tool is provided for informational and calculation purposes. Output values are estimates based on standard user inputs.