Student Loan Repayment Calculator 2026/27
On £32,000 a Plan 2 graduate repays £19.61 a month in 2026/27: 9% of everything above the £29,385 threshold. Below the threshold you repay nothing, and the repayment comes out through PAYE like tax.
- Every rate links to its official source
- Checked against official examples on every build
- Rates reviewed 25 October 2026
2026/27 thresholds and rates
| Plan | Who | Threshold (per year) | Rate above it |
|---|---|---|---|
| Plan 1 | Started before September 2012 (England and Wales), or Northern Ireland | £26,900 | 9% |
| Plan 2 | Started September 2012 to July 2023 (England and Wales) | £29,385 | 9% |
| Plan 4 | Scottish students | £33,795 | 9% |
| Plan 5 | Started from August 2023 (England) | £25,000 | 9% |
| Postgraduate | Master's and doctoral loans (England and Wales) | £21,000 | 6% |
How the repayment is taken
Your employer deducts the repayment with your tax and National Insurance and HMRC passes it to the Student Loans Company once a year. The repayment is based on the earnings in each pay period, so a bonus month repays more and a quiet month less. It is calculated on the same earnings as NI, which means salary sacrifice pension contributions reduce it. A net pay pension does not.
Two loans at once
A postgraduate loan is repaid at the same time as an undergraduate loan: 6% above £21,000 plus 9% above your plan's threshold, so a Plan 2 graduate with a master's loan earning £35,000 repays £840 plus £505 a year. Tick "postgraduate loan too" above to see both.
What is coming
The Plan 2 threshold is frozen from 2027/28 to 2029/30 under the November 2025 Budget, so more graduates will repay more as pay rises. Interest does not change your monthly repayment. It changes how long you repay for (until the loan is cleared or written off after 25, 30 or 40 years depending on the plan).
The words on this page, in plain English
- Take-home pay
- The money that reaches your bank account after tax, National Insurance and other deductions. Also called net pay.
- Gross pay
- Your pay before anything is taken off. The salary in a job advert is gross pay.
- Personal allowance
- The first £12,570 you earn each year is not taxed. Earn over £100,000 and this allowance shrinks.
- Tax code
- A short code on your payslip, such as 1257L, that tells your employer how much untaxed pay you get. The numbers times 10 is your allowance.
- PAYE
- "Pay As You Earn": your employer takes tax and National Insurance out of each payslip and sends it to HMRC for you.
- National Insurance (NI)
- A second tax on earnings that pays for the State Pension and some benefits. Most employees pay 8% on earnings between £12,570 and £50,270, then 2%.
- Student loan plan
- Which repayment rules apply to your loan. It depends on when and where you studied. Plan 2 covers most English students who started after 2012. Plan 5 those who started after 2023.
- Salary sacrifice
- You give up part of your salary and your employer pays it into your pension instead. You pay less tax and less National Insurance on it.
- Scottish rates
- If you live in Scotland you pay income tax in six bands set by the Scottish Parliament instead of the three bands used in the rest of the UK.
Questions people ask
How much do I repay on £30,000?
Plan 1: £279 a year (£23 a month). Plan 2: £55 a year. Plan 4: nothing. Plan 5: £450 a year (£37.50 a month).
Which plan am I on?
It depends on where you lived and when you started. England and Wales from 2012 to 2023 is Plan 2. From August 2023 is Plan 5. Scotland is Plan 4. Before 2012 is Plan 1. Your Student Loans Company account says.
Does a pay rise increase my repayment?
Yes, by 9% of the rise once you are over the threshold. A £1,000 rise adds £90 a year, £7.50 a month.
Do I repay if I am self employed?
Yes, through Self Assessment, on the same thresholds, once a year.
Sources
The calculator on this page reads its rates from the same file these links are listed in. If a rate changes, the source list changes with it.
- GOV.UK: Rates and thresholds for employers 2026 to 2027 (checked 25 October 2026)
- GOV.UK: Repaying your student loan: what you pay (checked 25 October 2026)
These figures are estimates to help you plan. Your payslip is the final word: PAYE works month by month, so a single payslip can differ a little, but the yearly totals match. See how we calculate and the accuracy tests.
More UK calculators
Take-home pay, Hourly Wage Calculator, Pro Rata Salary Calculator, Bonus Tax Calculator, National Insurance Calculator, Pension Salary Sacrifice Calculator, Scottish Income Tax Calculator, VAT