£49,000 student loan repayment by plan
Each plan repays 9% of income above its own threshold, except a postgraduate loan, which is 6%. The plan you are on depends on when and where you studied.
| Plan | Threshold | Repayment a month | A year | Take-home after loan |
|---|---|---|---|---|
| Plan 1 | £26,900 | £166 | £1,989 | £36,811 |
| Plan 2 | £29,385 | £147 | £1,765 | £37,034 |
| Plan 4 (Scotland) | £33,795 | £114 | £1,368 | £37,431 |
| Plan 5 | £25,000 | £180 | £2,160 | £36,640 |
| Postgraduate Loan | £21,000 | £140 | £1,680 | £37,120 |
£49,000 with an undergraduate and a postgraduate loan together
A postgraduate loan is a separate deduction, so someone repaying both pays 9% above the undergraduate threshold and 6% above £21,000, from the same salary.
| Combination | Repayment a month | A year | Take-home after both |
|---|---|---|---|
| Plan 2 + Postgraduate Loan | £287 | £3,445 | £35,354 |
| Plan 5 + Postgraduate Loan | £320 | £3,840 | £34,960 |
What a student loan takes from £49,000
The repayment comes out of pay after income tax and National Insurance, so it does not reduce either. On Plan 5, £49,000 leaves about £36,640 a year in the hand against £38,800 with no loan, a difference of £2,160. The balance is written off after 40 years on Plan 5, so on a modest salary the monthly figure, not the balance, is what matters.
Student loan on £49,000 in Scotland
A Scottish undergraduate is on Plan 4, which starts at £33,795, so the loan on £49,000 is £1,368 a year. Scottish income tax also differs, so take-home after the loan is about £36,155. The Scottish income tax calculator shows the tax side.
Salaries near £49,000
Work out your own figure
The tables assume the whole salary is above the threshold for the year and no change of job mid-year. Open the student loan repayment calculator to set your exact salary, plan and postgraduate loan, or see £49,000 after tax for the full take-home breakdown.