Student Loan Calculator
UK income-contingent repayments and write-off, or a standard US-style loan.
About this tool
For a UK loan, choose your plan; the threshold, repayment rate, interest rate and write-off period fill in, and you can edit them. Enter your balance, current salary and expected pay growth to see your monthly repayment now, the total you're likely to repay, and whether the loan is paid off or written off, with a year-by-year projection. For a standard loan, enter the balance, interest rate, term and any extra monthly payment to see the payment, payoff time and interest saved.
How UK and US student loans are repaid
UK student loans for higher education behave more like a graduate tax than a normal debt. You repay a fixed percentage of your income above a threshold: 9% for undergraduate plans and 6% for postgraduate loans, collected through payroll. If you earn below the threshold you pay nothing, and whatever remains after the write-off period, from 25 years on Plan 1 to 40 years on Plan 5, is cancelled. On Plan 2, with a threshold of ยฃ28,470 in 2025/26, a ยฃ30,000 salary means paying 9% of ยฃ1,530, about ยฃ11 a month. Because repayments depend on earnings, many graduates never repay the full balance, so the headline balance and interest rate matter less than your future salary; high earners repay the most. In the US, most federal and private student loans are repaid like ordinary loans, with a fixed monthly payment over a set term, typically 10 years, and paying extra each month cuts the interest considerably. Income-driven repayment plans exist but follow their own rules. Honest limits: thresholds and rates change every year, so the defaults are 2025/26 figures; check gov.uk or your loan provider and edit them. Interest here is added once a year and salary growth is your own assumption. Not financial advice. The UK income tax calculator shows the loan on your payslip, and the college savings calculator plans ahead.
Frequently asked questions
How much will I repay on a Plan 2 student loan?
9% of earnings above the threshold (ยฃ28,470 in 2025/26), for up to 30 years; the balance left after that is written off.
Will my student loan be written off?
Many UK graduates' loans are. Whether yours is depends on your future earnings; the projection gives an estimate.
Should I pay off my UK student loan early?
Often not, because repayments depend on income and the balance may be written off, but it depends on your likely earnings.
Is my data saved?
No. The calculation runs in your browser and nothing is stored or sent.