UK Student Loan Calculator 2026/27
UK student loan repayment calculator for 2026/27. Plans 1, 2, 4, 5 and Postgraduate. Thresholds, 9% / 6% rates, and plan-stacking rules explained.
Take-home pay
£505
17.9% effective tax rate Income Tax plus employee National Insurance as a percentage of your gross salary. Excludes pension, student loan, and HICBC.
- Monthly
- £42
- Weekly
- £10
- Daily
- £2
- Hourly
- £0.26
| Gross salary | £35,000 |
|---|---|
| Income Tax | −£4,486 |
| National Insurance | −£1,794 |
| Student loan | −£505 |
| Take-home | £28,214 |
How student loan repayments work
UK student loan repayments are deducted automatically through PAYE by your employer. You only pay when your income exceeds the threshold for your plan, and you pay a percentage of income over that threshold. The amount you owe has no effect on how much you repay each year (gov.uk).
2026/27 thresholds and rates
| Plan | Who (by student finance body) | Threshold | Rate |
|---|---|---|---|
| Plan 1 | England or Wales, course started before 1 September 2012; Northern Ireland (undergraduate and postgraduate) | £26,900 | 9% |
| Plan 2 | England, course started 1 September 2012 to 31 July 2023; Wales, course started on or after 1 September 2012 | £29,385 | 9% |
| Plan 4 | Scotland (undergraduate and postgraduate) | £33,795 | 9% |
| Plan 5 | England, undergraduate course started on or after 1 August 2023 | £25,000 | 9% |
| Postgraduate Loan | England or Wales master’s or doctoral loans | £21,000 | 6% |
Plan allocation per gov.uk: which repayment plan you’re on.
Worked example
On a £40,000 salary with Plan 2:
- (£40,000 − £29,385) × 9% = £955.35 over the year
- Paid monthly, the employer uses the £2,448 monthly threshold: (£3,333.33 − £2,448) × 9% = £79.68, and the deduction is rounded down to £79 a month (gov.uk’s own examples round down the same way)
An undergraduate plan and a Postgraduate Loan are repaid at the same time. If you have Plan 2 and a Postgraduate Loan and earn above both thresholds, you pay 9% over the Plan 2 threshold plus 6% over the Postgraduate threshold, so 15% at the margin.
Two undergraduate plans do not stack the same way. With, say, Plan 1 and Plan 2 you make a single repayment of 9% of income over the lower of the two thresholds, split between the loans (gov.uk), so the margin stays 9% (15% with a Postgraduate Loan as well).
What we don’t model
- Voluntary overpayments and loan balance tracking.
- Interest accruing on the outstanding balance (varies by plan, and for Plan 2 by income).
- Write-off. Depending on the plan, loans are written off 25, 30 or 40 years after the April you were first due to repay; some older Plan 1 and Plan 4 loans are written off at age 65 instead (gov.uk).
Related guides
- Student Loan Plans Explained — which plan you’re on, the threshold, and the write-off horizon.
- PAYE Explained — how student loan repayments are collected alongside tax and NI each payday.
- Self Assessment 2026/27 — when income outside PAYE means student loan repayments are collected through Self Assessment.
Worked examples
Related calculators
Other UK tax calculators that pair with the Student Loan.
Frequently asked questions
Which plan am I on?
Plan 1: started before 1 September 2012 in England or Wales, or any loan from Northern Ireland. Plan 2: started in England between 1 September 2012 and 31 July 2023, or in Wales on or after 1 September 2012. Plan 4: any loan from Scotland. Plan 5: started in England on or after 1 August 2023. Postgraduate Loan: master's or doctoral loan from England or Wales (Northern Ireland postgraduate loans are Plan 1, Scottish ones Plan 4). Your active plan type letter in your Student Loans Company account confirms it.
Can I have more than one plan?
Yes. An undergraduate plan and a Postgraduate Loan are repaid at the same time, each on income over its own threshold. Two undergraduate plans (for example Plan 1 and Plan 2) are different: you make one repayment over the lower of the two thresholds, split between the loans.
Do repayments affect Income Tax?
No - student loan repayments are separate from Income Tax. Your employer deducts them through PAYE and pays them to HMRC with your tax and National Insurance; HMRC passes the repayment information to the Student Loans Company, which updates your balance. They do not reduce your taxable income.
What happens if I don't earn enough?
You pay nothing. Repayments only start once your income is above the threshold for your plan, and then only 9% (6% for a Postgraduate Loan) of income above it. If a bonus pushes one pay period over the weekly or monthly threshold but your annual income stays below the yearly threshold, you can ask for a refund after the tax year ends.
What's the threshold for my plan?
2026/27 yearly thresholds: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, Postgraduate Loan £21,000 (gov.uk). Payroll uses the matching monthly or weekly threshold for each pay period.