Student Loan Income Comparison Calculator
Compare how different loan types and income levels affect your monthly student loan repayments.
Compare Your Repayments
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Select the loan plans you want to compare and your salary, then click "Calculate and Compare" to see your repayments.
| Loan Plan | Monthly Repayment | Annual Repayment | % of Salary |
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How UK Student Loan Repayments Work
Student loan repayments in the UK are calculated as a percentage of your income above a specific threshold. The threshold and percentage vary depending on your loan plan type:
Current Repayment Thresholds and Rates (2023/24):
- Plan 1: 9% of income above £22,015 per year (£1,834 monthly)
- Plan 2: 9% of income above £27,295 per year (£2,274 monthly)
- Plan 4: 9% of income above £27,660 per year (£2,305 monthly)
- Plan 5: 9% of income above £25,000 per year (£2,083 monthly)
- Postgraduate Loan: 6% of income above £21,000 per year (£1,750 monthly)
Combined Repayments
If you have multiple loan types, you may make repayments towards several plans simultaneously. For example:
- With both a Plan 2 and Postgraduate loan, you'll pay 9% on income above £27,295 plus 6% on income above £21,000, which can mean a combined 15% on portions of your income.
- With both a Plan 5 and Postgraduate loan, you'll pay 9% on income above £25,000 plus 6% on income above £21,000.
How Repayments Are Collected
For employed individuals, repayments are automatically deducted from your salary through PAYE, alongside income tax and National Insurance. Self-employed people make repayments through their annual Self Assessment tax return.