Work out how much student loan you repay from your salary in 2026/27, for Plan 1, Plan 2, Plan 4, Plan 5 and the Postgraduate Loan. On a £40,000 salary, a Plan 2 borrower repays about £79 a month (£955.35 a year), while a Plan 5 borrower repays £112 a month.
Student Loan Repayment Calculator 2026/27
Plan 1, 2, 4, 5 and Postgraduate Loan · Updated 12 October 2026
- Repayment per year
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- Per week (if paid weekly)
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- Threshold used
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- Share of your salary
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Your employer takes repayments through PAYE each payday: 9%% of pay above the plan threshold (6%% above £21,000 for a Postgraduate Loan), rounded down to the nearest pound. The yearly figure is 9%% of your salary above the yearly threshold.
Repayment thresholds for 2026/27
| Plan | Yearly | Monthly | Weekly | Rate |
|---|---|---|---|---|
| Plan 1 | £26,900 | £2,241 | £517 | 9% |
| Plan 2 | £29,385 | £2,448 | £565 | 9% |
| Plan 4 (Scotland) | £33,795 | £2,816 | £649 | 9% |
| Plan 5 | £25,000 | £2,083 | £480 | 9% |
| Postgraduate Loan | £21,000 | £1,750 | £403 | 6% |
You only repay on income above the threshold. If you have an undergraduate loan and a Postgraduate Loan, you repay both at the same time: 9% above your plan’s threshold and 6% above £21,000.
How much you repay at different salaries
| Salary | Plan 1 | Plan 2 | Plan 4 | Plan 5 |
|---|---|---|---|---|
| £25,000 | £0 | £0 | £0 | £0 |
| £30,000 | £279.00 | £55.35 | £0 | £450.00 |
| £40,000 | £1,179.00 | £955.35 | £558.45 | £1,350.00 |
| £50,000 | £2,079.00 | £1,855.35 | £1,458.45 | £2,250.00 |
| £60,000 | £2,979.00 | £2,755.35 | £2,358.45 | £3,150.00 |
Which plan am I on?
- Plan 1: you started an undergraduate course in England or Wales before 1 September 2012, or you studied in Northern Ireland.
- Plan 2: you started an undergraduate course in England or Wales between 1 September 2012 and 31 July 2023.
- Plan 4: you took out your loan through Student Awards Agency Scotland (SAAS).
- Plan 5: you started an undergraduate course in England on or after 1 August 2023.
- Postgraduate Loan: you borrowed for a master’s or doctoral course in England or Wales.
Your plan type is shown in your online Student Loans Company account and on your payslip. If you are employed, your employer takes repayments automatically once HMRC tells them your plan type.
What changes after this year
The Government has confirmed that the Plan 2 threshold will be frozen at £29,385 from April 2027 until April 2030. As pay rises, more of a Plan 2 borrower’s income will sit above the threshold, so repayments will grow faster than wages over that period.
FAQs
When is my student loan written off?
It depends on your plan: generally 25 years after the April you were first due to repay for Plan 1 loans taken out since 2006, 30 years for Plan 2, Plan 4 and Postgraduate Loans, and 40 years for Plan 5. Anything still owing at that point is cancelled.
I’m self-employed. How do I repay?
You repay through your Self Assessment tax return, using the same thresholds and rates on your total income for the year.
Can I get money back if I earned under the threshold?
If you were taxed through PAYE but your income for the whole tax year was below your threshold, you can ask the Student Loans Company for a refund after the tax year ends.
Related calculators
- Take-Home Pay Calculator 2026/27Salary after tax, NI and student loan
- Savings Interest Tax CalculatorTax on savings and your allowance
Sources
- GOV.UK: Repaying your student loan — what you pay
- Cintra: Student loan repayment thresholds for 2026/27 (Plan 2 freeze)
Figures current as of 12 October 2026
Each formula is checked against a separate test sheet with at least three worked examples. Results are estimates based on the numbers you enter and the published rules; your actual figures may differ. This is general information, not financial or tax advice.
Spotted a mistake? Contact us and we will fix it and update the date above.