Student Loan Repayment Calculator
Work out your monthly student loan payments, the total amount you'll repay, and how long it will take to clear your balance based on your salary and loan type.
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Your Results
Monthly Repayment
£57.79
Annual Repayment
£693.45
Years to Repay
Written off after 30 years
Total Repaid
£20,803
Total Interest Paid
£0
Understanding Your Student Loan Repayment
How Repayments Work
Your student loan repayments are collected automatically through the tax system, just like income tax and National Insurance. If you are employed, your employer will deduct the payments from your salary before you receive it. This is known as 'Pay As You Earn' (PAYE). Our PAYE tax calculator can help you understand your take-home pay. If you are self-employed, you will make repayments through your Self Assessment tax return.
Repayment Thresholds and Rates
You only start repaying your loan once your income is over a certain 'threshold'. This threshold depends on which repayment plan you are on. You repay a percentage of your income above this threshold, not your total income. For most plans this is 9%, but for Postgraduate Loans it is 6%. For the most accurate, up-to-date thresholds, always check the official GOV.UK website.
Loan Write-Off
A key feature of UK student loans is that the remaining balance is cancelled, or 'written off', after a set number of years if it has not been fully repaid. This means many people will not repay their loan in full. The write-off period depends on your loan plan, varying from 25 to 40 years. This calculator estimates whether your loan is likely to be written off.
Impact on Your Finances
While student loan repayments reduce your take-home pay, they are also a factor in your overall financial planning. For example, contributing more to a pension through a salary sacrifice scheme can reduce your pre-tax salary, which in turn lowers your student loan repayments for that period.
Frequently Asked Questions
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