How to use it
Pick your plan, then enter your balance and your salary before tax. Your balance is on your Student Loans Company account. The tool shows what comes out of each payslip now, and plays the loan forward year by year to see if you clear it.
The rules for 2026/27
| Plan | You repay | Above (a year) | Interest | Written off after |
|---|---|---|---|---|
| Plan 1 | 9% | £26,900 | 4.1% | 25 years* |
| Plan 2 | 9% | £29,385 | 4.1% to 6% | 30 years |
| Plan 4 | 9% | £33,795 | 4.1% | 30 years* |
| Plan 5 | 9% | £25,000 | 4.1% | 40 years |
| Postgraduate | 6% | £21,000 | 6% | 30 years |
\* Older Plan 1 and Plan 4 loans are written off at age 65 instead.
Thresholds apply from 6 April 2026. Interest rates apply from 1 September 2026. Plan 2 and postgraduate interest would be 7.1% but is capped at 6% for 2026/27. Plan 2 interest slides from 4.1% at £29,385 of income up to the cap at £52,885.
Example: Plan 2, £32,000 salary. You pay 9% of (£32,000 − £29,385) = £235.35 a year, or £19.61 a month.
Common questions
Should I pay my student loan off early?
Often not, on Plan 2 or Plan 5. Many people never repay the full balance before it is written off. Paying early then only reduces what is written off. If the tool shows you will clear it anyway, overpaying saves interest.
Is it like a normal debt?
Not really. It does not show on your credit file. Repayments stop if your income drops below the threshold, and whatever is left is cancelled at the end of the term.
What does this tool assume?
That thresholds stay at their 2026/27 level, your pay rises each year by the amount you enter, and interest stays at today's rate. The Plan 2 threshold is frozen until April 2030. The others usually rise with inflation, so you may repay a little less than shown.
I have two plans. What happens?
Undergraduate plans are repaid at 9% above the lowest threshold of the plans you have. A postgraduate loan is repaid at 6% on top of that.
Last checked: 2026-09-26