Student Loan Calculator 2026/27
What does your student loan actually take from your pay? Pick your plan and salary — the deduction is shown in your full payslip, with tax, National Insurance and pension alongside it. Your salary never leaves your browser.
- Rates: GOV.UK — checked 5 Nov 2026
- Tested against HMRC worked examples
- Your salary never leaves your browser
Student loan is charged on your gross pay above the plan threshold — before pension is taken off, and at the same rate whatever your tax band. Tax code 1257L, tax year 2026/27.
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Your student loan repayment
— / year
- Per month
- —
- Per week
- —
- Share of salary
| Gross pay | — |
|---|---|
| Pension | — |
| Income tax | — |
| National Insurance | — |
| Student loan | — |
| Take-home pay | — |
Monthly payslip — April to March
| Month | Gross | Tax | NI | Net | Pension | Student loan |
|---|
| Plan | Threshold | Repayment / year | Repayment / month |
|---|
Thresholds and rates come from the 2026/27 rates file. A Postgraduate loan is shown separately because it stacks with an undergraduate plan.
Rates checked 5 November 2026.
Every figure checked against HMRC's own examples.
Your salary never leaves your browser.
Rates re-checked by hand after every Budget.
Rates: GOV.UK — last checked 5 November 2026 See the official rates
How this is calculated
Your student loan is 9% of your gross pay above your plan's threshold — Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000 — and 6% above £21,000 for a Postgraduate loan. The loan is charged on gross pay, so pension contributions do not reduce it, and salary sacrifice does (it lowers your gross first). The rest of your payslip uses the 2026/27 rates, last checked against GOV.UK on 5 November 2026 — income tax on pay above your £12,570 personal allowance, National Insurance at 8% to £50,270 then 2%. The thresholds above are taken from consistent official-source reporting; if yours looks different, the GOV.UK student-loan repayment page is the final word. See the full method on How we calculate.
Examples — every plan at £40,000
| Plan | Threshold | Repayment / year | Repayment / month |
|---|---|---|---|
| Plan 1 | £26,900 | £1,179.00 | £98.25 |
| Plan 2 | £29,385 | £955.35 | £79.61 |
| Plan 4 | £33,795 | £558.45 | £46.54 |
| Plan 5 | £25,000 | £1,350.00 | £112.50 |
| Postgraduate | £21,000 | £1,140.00 | £95.00 |
| Plan 5 + Postgraduate | £25,000 / £21,000 | £2,490.00 | £207.50 |
Examples use a £40,000 salary. All figures are computed by the engine. Note how much the plan matters: the same salary costs £558.45 a year on Plan 4 and £1,350.00 on Plan 5 — the threshold, not the rate, is what differs.
Related calculators & reading
- Take-home pay calculator — the full breakdown for your salary, with every plan and pension mode.
- Salary calculator — compare two salaries and see how a rise changes your loan repayment.
- Pension & salary sacrifice calculator — sacrifice lowers your gross pay, which also lowers your student loan.
- Scottish income tax calculator — the same salary in Scotland vs England.
- Plan 2 vs Plan 5: why your student loan deduction isn't your friend's — the same salary costs a different amount on each plan, because the thresholds differ.
- UK tax rates 2026/27 — every band, threshold and allowance behind these figures.
Questions
How much student loan will I repay each month?
It depends on your plan and your salary: 9% of what you earn above your plan threshold (6% for a Postgraduate loan). At £40,000 a year that is £98.25 a month on Plan 1, £79.61 on Plan 2, £46.54 on Plan 4, £112.50 on Plan 5, and £95.00 on a Postgraduate loan. Enter your salary above and the calculator works out your exact figure, in the context of your full payslip.
Can I have two student loans at once?
Yes — a Postgraduate loan stacks with an undergraduate plan, and you repay both at the same time: 9% above your undergraduate threshold plus 6% above the £21,000 Postgraduate threshold. Two undergraduate plans never stack: you only ever repay one undergraduate plan at a time, the one for your most recent course.
Which plan am I on?
It depends on when and where you studied. Plan 1 is generally for courses that started before 1 September 2012 in England and Wales; Plan 2 for courses from 1 September 2012 in England and Wales; Plan 4 for Scottish and EU students; Plan 5 for courses that started on or after 1 August 2023 in England. If you are not sure, your payslip or the Student Loans Company will say — and if the plan you pick gives £0, the calculator tells you why: your pay is below that plan threshold.
Does my student loan affect my take-home pay a lot?
Less than most people fear, because it is only charged above a threshold — on £40,000 a Plan 2 deduction is £955.35 a year, about 2.4% of your salary. But it does stack with tax and National Insurance, so a pay rise can push more of your extra pay into the loan: the full payslip breakdown above shows the whole picture.
Will I ever clear my student loan balance?
Many Plan 2 borrowers never clear the balance before it is written off — the deduction is based on what you earn, not on what you owe, so a modest salary can mean the balance grows with interest even while you are repaying. This calculator shows what you actually repay each month; it does not pretend to predict a clearance date, because that depends on future earnings and interest rates no calculator can know.
Is my salary sent anywhere?
No. The calculator runs entirely in your browser. No salary figure is sent to a server, stored, or shared.
The rates behind this calculator: 2026/27 rates, sourced from GOV.UK.