See how interest accumulates on your student loan over time and how it affects your balance.
Uses plan rules (including Plan 2’s income banding) and compounds monthly with no repayments.
Plan 2 interest scales from RPI to RPI+3% based on income.
How far into the future to project (no repayments).
Interest is RPI at/below lower income, RPI+3% at/above upper; linear in between.
Current Interest Rate
5.0%
Based on salary band (RPI 4.6% → RPI+3%)
Interest Added per Month (now)
£186
Interest Added per Year (now)
£2,237
Balance After 5 Years
£57,670
Assuming no repayments made
Total Interest Added
£12,670
Over the 5-year period
Each plan has different interest rules. Plan 2 scales with income; Plan 5 is RPI; Postgrad is RPI+3%; Plan 1/4 are the lower of RPI or Base+1%.