Self-Employed Student Loan Repayment Calculator
Calculate how much you'll pay towards your student loan if you're self-employed, a freelancer, or have additional income sources.
Self-Employed Repayment Calculator
This is your self-employed profit after allowable expenses
Include any employment income that's already subject to PAYE
Your Results
Complete the form and click "Calculate Repayments" to see your estimated annual and monthly repayments.
Annual Repayment
£—
Monthly Equivalent
£—
How Self-Employed Student Loan Repayments Work
If you're self-employed, your student loan repayments are calculated based on your profit (income minus allowable expenses) above the repayment threshold for your loan type.
Key Points to Understand:
- Self Assessment: You'll need to declare your student loan on your Self Assessment tax return. HMRC will calculate your repayments based on your profit.
- Multiple Income Sources: If you have both self-employed and PAYE income, your repayment is calculated on your total income across all sources.
- Payment Schedule: Unlike PAYE where repayments are made monthly, self-employed repayments are typically made through your Self Assessment bill either in one lump sum or via payment on account.
- Current Thresholds: Repayments start when your annual income exceeds: £22,015 (Plan 1), £27,295 (Plan 2), £27,660 (Plan 4), £25,000 (Plan 5), or £21,000 (Postgraduate Loan).
The repayment amount is calculated as 9% of income above the threshold for Plan 1, 2, 4, and 5 loans, and 6% for Postgraduate Loans. If you have both an undergraduate and postgraduate loan, you'll make repayments towards both simultaneously.