KnowMyPay

Student loan repayment calculator

Pick your plan and salary to see what actually comes off each month. If you have an undergraduate loan and a postgraduate loan, tick both and it adds the two deductions.

Updated for 2026/27 Checked against gov.uk · last reviewed 2026-09-06
Repaid each month
£20
That is £235 a year, an effective 0.7% of your salary.
Plan 2 (9% or 6% over £29,385)
£20/mo
Tick this if you have a Master's or Doctoral Loan on top of an undergraduate plan.

Estimate for 2026/27. Repayment is 9% over the plan threshold, 6% for a Postgraduate Loan.

How the repayment is worked out

You repay a percentage of what you earn above a threshold, not a percentage of the whole salary and not a fixed instalment. For Plan 1, 2, 4 and 5 the rate is 9%. For a Postgraduate Loan it is 6%. Earn under the threshold and the repayment is zero, which is why two people with the same debt can pay very different amounts.

The thresholds differ by plan: Plan 5 starts at £25,000, Plan 2 at £29,385, Plan 1 at £26,900, Plan 4 at £33,795 and the Postgraduate Loan at £21,000. Your outstanding balance does not change the monthly figure at all. It only decides how long you keep paying.

Worked example

Take a £32,000 salary on Plan 2. Income over the £29,385 threshold is £2,615. At 9% that is £235 a year, about £20 a month. Add a Postgraduate Loan and another 6% comes off everything over £21,000, so the same salary would also lose £55 a month on top.

Common questions

How much is my student loan repayment?

You pay 9% of everything you earn over your plan threshold (6% for a Postgraduate Loan). On a £32,000 salary on Plan 2 that is about £20 a month. Earn below the threshold and you pay nothing.

Do I pay two student loans at once?

Yes. An undergraduate plan and a Postgraduate Loan are separate deductions. You pay 9% over the undergraduate threshold and 6% over the £21,000 postgraduate threshold from the same income, so both come off together.

Is student loan taken before or after tax?

After. The repayment is worked out on your gross pay over the threshold, but it is collected through PAYE alongside tax and National Insurance, so it comes out of the same payslip.

Does my repayment change if I get a pay rise?

Yes, because it is a percentage of income above the threshold, not a fixed sum. A pay rise increases the amount over the threshold, so the 9% (or 6%) takes a little more.

What happens if my income drops below the threshold?

Repayments stop automatically. The deduction is calculated each pay period, so in any month you earn under the monthly threshold, nothing is taken.

Sources

Related calculators

Which student loan plan am I on?A three-question path that names your plan and flags if you are overpaying on the wrong one.When do I start repaying?The exact first repayment date and the salary that triggers a deduction, with the Plan 5 floor.Should I overpay my student loan?A year-by-year projection of whether you clear the loan before write-off, and if overpaying is worth it.