Estimate your monthly and total repayments for Plan 1 student loans in England and Wales (pre-2012).
Plan 1 applies if you started before September 2012 (or studied in Northern Ireland). You repay 9% of income above £22,015 per year.
The threshold for Plan 1 repayments is £22,015
Plan 1 applies to students who started before September 2012
Plan 1 loans were typically smaller as tuition fees were lower
Additional monthly payment on top of required amount
Plan 1 interest is the lower of RPI or Bank Rate + 1%. Update this yearly.
Monthly Repayment
£60
9% of income above threshold
Annual Repayment
£719
Total to be Repaid
£17,966
Over the life of the loan (or until write-off)
Total Interest Paid
£16,626
Expected Write-Off Date
Apr 2036
Any remaining balance is written off 25 years after entering repayment
Current Interest Rate: RPI or Base+1% (assumed 4.6% for this estimate)
This calculator helps you understand your Plan 1 student loan repayments based on your salary and graduation year. Plan 1 loans apply to students who started higher education in England or Wales before September 2012, or who studied in Northern Ireland.
Try our overpayment calculator to see if making extra payments could help you save money on your student loan.
Try Our Overpayment Calculator