Your student loan, in plain numbers.
Pick your plan, drop in your salary and balance — instantly see your monthly deduction, the years to clear, and whether you'll ever finish paying it.
Projection · Plan 5 (England, started Aug 2023 onwards)
Interest is RPI only (no real-rate premium). Interest used: 4.40%/yr.
| Year | Salary | Repaid | Interest | Balance |
|---|---|---|---|---|
| 1 | £40,000 | £1,350 | £1,950 | £45,600 |
| 2 | £40,800 | £1,422 | £1,975 | £46,153 |
| 3 | £41,616 | £1,495 | £1,998 | £46,656 |
| 4 | £42,448 | £1,570 | £2,018 | £47,104 |
| 5 | £43,297 | £1,647 | £2,036 | £47,493 |
| 6 | £44,163 | £1,725 | £2,052 | £47,820 |
| 7 | £45,046 | £1,804 | £2,064 | £48,081 |
| 8 | £45,947 | £1,885 | £2,074 | £48,269 |
| 9 | £46,866 | £1,968 | £2,081 | £48,382 |
| 10 | £47,804 | £2,052 | £2,084 | £48,413 |
| 11 | £48,760 | £2,138 | £2,083 | £48,358 |
| 12 | £49,735 | £2,226 | £2,079 | £48,211 |
| 13 | £50,730 | £2,316 | £2,070 | £47,965 |
| 14 | £51,744 | £2,407 | £2,058 | £47,616 |
| 15 | £52,779 | £2,500 | £2,040 | £47,156 |
| 16 | £53,835 | £2,595 | £2,018 | £46,579 |
| 17 | £54,911 | £2,692 | £1,990 | £45,877 |
| 18 | £56,010 | £2,791 | £1,957 | £45,043 |
| 19 | £57,130 | £2,892 | £1,918 | £44,070 |
| 20 | £58,272 | £2,995 | £1,873 | £42,948 |
| 21 | £59,438 | £3,099 | £1,822 | £41,671 |
| 22 | £60,627 | £3,206 | £1,763 | £40,227 |
| 23 | £61,839 | £3,316 | £1,697 | £38,609 |
| 24 | £63,076 | £3,427 | £1,623 | £36,805 |
| 25 | £64,337 | £3,540 | £1,542 | £34,806 |
| 26 | £65,624 | £3,656 | £1,451 | £32,601 |
| 27 | £66,937 | £3,774 | £1,351 | £30,178 |
| 28 | £68,275 | £3,895 | £1,242 | £27,526 |
| 29 | £69,641 | £4,018 | £1,123 | £24,631 |
| 30 | £71,034 | £4,143 | £993 | £21,480 |
| 31 | £72,454 | £4,271 | £851 | £18,061 |
| 32 | £73,904 | £4,401 | £698 | £14,357 |
| 33 | £75,382 | £4,534 | £532 | £10,355 |
| 34 | £76,889 | £4,670 | £353 | £6,038 |
| 35 | £78,427 | £4,808 | £160 | £1,389 |
| 36 | £79,996 | £1,389 | £31 | £31 |
| 37 | £81,595 | £31 | £1 | £1 |
| 38 | £83,227 | £1 | £0 | £0 |
| 39 | £84,892 | £0 | £0 | £0 |
| 40 | £86,590 | £0 | £0 | £0 |
Related tools
What you might calculate next
How it works
Plan 1 — pre-Sep-2012 (E/W)
9% of earnings above £26,065/year. Interest lower of RPI or BoE base rate + 1%. Written off 25 years after first April due to repay (or at age 65).
Plan 2 — Sep 2012 – Jul 2023 (E/W)
9% above £28,470/year. Interest slides from RPI (under £28,470) up to RPI + 3% (above £49,130). Written off 30 years after first April due to repay.
Plan 4 — Scotland
9% above £32,745/year. Interest the lower of RPI or BoE base rate + 1%. Written off 30 years after first April due to repay.
Plan 5 — Aug 2023 onwards (England)
9% above £25,000/year. Interest is RPI only. Written off after 40 years — many borrowers will repay the full amount.
Postgraduate Loan
6% above £21,000/year. Interest is RPI + 3%. Paid in addition to any undergrad plan deduction. Written off 30 years after first April due to repay.
When deductions start
Your employer starts deducting from the April after you finish your course — not from day one. HMRC tells your employer which plan to apply, shown on your payslip as "SL" or "PGL".