See how much comes out of your pay each month for your student loan, and whether you’re likely to clear it before it’s written off. Covers Plan 1, Plan 2, Plan 4, Plan 5 and postgraduate loans with the 2026/27 thresholds.
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2026/27 repayment thresholds
| Plan | You repay above | Rate | Written off after |
|---|---|---|---|
| Plan 1 | £26,900 | 9% | 25 years (or age 65 for older loans) |
| Plan 2 | £29,385 | 9% | 30 years |
| Plan 4 (Scotland) | £33,795 | 9% | 30 years |
| Plan 5 | £25,000 | 9% | 40 years |
| Postgraduate loan | £21,000 | 6% | 30 years |
You only repay on income above the threshold, not your whole salary. If you have a postgraduate loan as well as an undergraduate loan, you repay both at the same time.
Worked examples
Plan 2 on £35,000
Income above the threshold is £35,000 − £29,385 = £5,615. 9% of that is £505.35 a year, or about £42 a month.
Will a Plan 2 graduate ever clear £45,000?
Starting on £35,000 with 3% pay rises and 5.5% interest, interest grows faster than repayments for many years. After 30 years they’d have repaid about £70,500 and the rest would be written off. For many Plan 2 and Plan 5 borrowers the loan works more like a graduate tax than a debt.
Should you overpay?
Only if you’re likely to clear the loan anyway. If you’re on track for write-off, voluntary overpayments just reduce what’s written off. Higher earners who would clear it can save interest by overpaying.
Frequently asked questions
How much will I repay each month?
9% of your income above your plan’s threshold (6% for postgraduate loans). On Plan 2 at £35,000 that’s about £42 a month.
Do I repay if I earn under the threshold?
No. Repayments stop automatically if your income falls below the threshold.
Which plan am I on?
It depends on where and when you started university. Most English students who started between 2012 and July 2023 are on Plan 2; those starting from August 2023 are on Plan 5. Scottish students are on Plan 4.
Does the loan affect my credit score?
No. Student loans don’t appear on your credit file, though lenders may consider the monthly repayment when checking affordability.
Sources
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