What are the different student loan plans in the UK?

Plan 1: Started 1998-2011 (England/Wales), Plan 2: Started 2012-2022 (England/Wales), Plan 3: Postgraduate loans, Plan 4: Scotland, Plan 5: From August 2023 (England). Each has different repayment thresholds and interest rates. Plan 5 has a 40-year repayment period.

How much do I repay on my student loan in the UK?

You repay 9% of your income above the threshold. Plan 1: £22,015 threshold (9% above), Plan 2: £27,295 threshold (9% above), Plan 4: £27,660 threshold (9% above), Plan 5: £25,000 threshold (9% above). Payments are deducted via PAYE by your employer.

When is my student loan written off in the UK?

Plan 1: Written off 25 years after April when first due for repayment. Plan 2: Written off 30 years after April when first due. Plan 4: Written off 30 years after April when first due. Plan 5: Written off 40 years after April when first due.

What is the interest rate on UK student loans?

Plan 1: RPI (inflation) only. Plan 2: RPI + up to 3% (during study), RPI while earning above threshold. Plan 5: RPI only. Plan 4: RPI only. Current interest rates are based on March RPI figures. Check SLC for current rates.

Student Loan Calculator UK - Plan 1, 2, 4 & 5 Repayment Estimator

Plan	Threshold	Rate	Write-off
Plan 1	£22,015	RPI	25 years
Plan 2	£27,295	RPI + up to 3%	30 years
Plan 4	£27,660	RPI	30 years
Plan 5	£25,000	RPI	40 years

📝 Complete Guide to Student Loans in the UK

This student loan calculator UK helps you understand your student loan repayments. With different plans for different years and regions, understanding your student finance is essential for financial planning. UK student loans are income-contingent, meaning you only repay when you earn above the threshold.

📚 UK Student Loan Plans Explained

Plan 1: For students from England/Wales who started between 1998-2011. Threshold: £22,015 (9% above). Interest: RPI. Write-off: 25 years.
Plan 2: For students from England/Wales who started between 2012-2022. Threshold: £27,295 (9% above). Interest: RPI + up to 3%. Write-off: 30 years.
Plan 4: For students from Scotland. Threshold: £27,660 (9% above). Interest: RPI. Write-off: 30 years.
Plan 5: For students from England starting August 2023 onwards. Threshold: £25,000 (9% above). Interest: RPI. Write-off: 40 years.
Postgraduate Loan: For postgraduate study. Threshold: £21,000 (6% above).

📊 Repayment Examples

Plan 2: £30,000 salary → £0 monthly (below threshold)
Plan 2: £35,000 salary → £58/month (9% of £7,705)
Plan 2: £45,000 salary → £133/month (9% of £17,705)
Plan 5: £30,000 salary → £38/month (9% of £5,000)
Plan 5: £40,000 salary → £113/month (9% of £15,000)

💰 Interest Rates on UK Student Loans

Plan 1: RPI (currently 4.3%)
Plan 2: RPI + up to 3% (during study), RPI (while earning above threshold)
Plan 4: RPI (currently 4.3%)
Plan 5: RPI (currently 4.3%)
Interest rates change annually based on March RPI figures

📈 UK Student Loan Statistics (2026)

Average student loan debt: £45,000
Total student loan debt: £200B+
Average monthly repayment: £50-£150
70% of graduates won't fully repay
Average write-off amount: £30,000
Students starting 2023: 40-year write-off

💡 Tips for Managing Student Loans

Understand Your Plan: Know your threshold and write-off date
Check PAYE: Ensure employer deducts correctly
Update SLC: Notify if working abroad or self-employed
Consider Overpayments: Usually not recommended (low interest)
Use Calculator: Track your repayments
Stay Informed: Interest rates change annually

⚠️ Important Considerations

Student loans don't affect credit score like other debts
Interest is added monthly
Repayments are automatic through PAYE
Write-off after 25-40 years depending on plan
Working abroad has different rules
Self-employed must report student loan income

Student Loan Calculator UK

📊 Your Student Loan Details

📊 Repayment Breakdown

📊 UK Student Loan Plans Comparison