WageStudent Loan Repayment Calculator
This calculator shows how much of your pay goes towards your student loan, based on your salary and the plan you are on. Enter what you earn and select your plan, and it applies 9% to everything above that plan's threshold - or 6% above £21,000 for a Postgraduate Loan - to give you the annual and monthly deduction. It works out what is taken through PAYE, not how much is left on your balance, because the balance does not affect the amount you repay.
Student loan repayment calculator
You repay a percentage of income over the plan threshold, collected through PAYE. The balance owed never changes the deduction. A postgraduate loan is charged additionally on top of any undergraduate plan. Estimates, not advice.
| Plan | Who | Rate | 2026-27 | 2025-26 |
|---|---|---|---|---|
| Plan 1 | Pre-2012 England/Wales; Northern Ireland | 9% | £26,900 | £26,065 |
| Plan 2 | 2012-2023 England/Wales | 9% | £29,385 | £28,470 |
| Plan 4 | Scotland (SAAS) | 9% | £33,795 | £32,745 |
| Plan 5 | England, courses from Aug 2023 | 9% | £25,000 | £25,000 |
| Postgraduate | Master's / doctoral | 6% | £21,000 | £21,000 |
What to enter
Start with your gross annual salary - your pay before any tax, National Insurance or pension is taken off. Then pick your plan: Plan 1, Plan 2, Plan 4 or Plan 5 for an undergraduate loan, and tick the Postgraduate Loan option as well if you have one.
Only one undergraduate plan can apply at a time, so choose the one that matches where you studied and when your course started. If you are not sure which plan you are on, the per-plan pages describe who each one covers.
How the figure is worked out
The calculator takes your income above the relevant threshold - £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4 or £25,000 for Plan 5 - and charges 9% on that slice. Earnings below the threshold are left out.
If you also have a Postgraduate Loan, it adds 6% of everything you earn above £21,000 on top of the undergraduate deduction. The two are calculated separately against their own thresholds and then combined, which is why a graduate with both loans sees a larger total deduction.
Reading the result
The result is the amount collected from your pay over the year, and the equivalent per month, through PAYE. It is a deduction from your income, not a reduction shown against your outstanding balance.
Because the figure depends only on your salary and plan, you can change the salary to see how a pay rise or a lower income would move the deduction up or down.
Frequently asked questions
Does the calculator account for interest or my balance?
No, and it does not need to. Repayments are income-based, so interest and the size of your balance have no effect on what is deducted - only your salary and threshold do.
Can I model having both an undergraduate and a postgraduate loan?
Yes. Select your undergraduate plan and tick the Postgraduate Loan option, and the calculator adds 6% above £21,000 to the 9% charged above your undergraduate threshold.
General information, not advice. Estimates assume the standard 1257L tax code and typical circumstances; your payslip may differ by a pound or two because HMRC payroll software truncates at each step. Verify with HMRC or an accountant for any decision. WageReckon stores no salary data - the calculators run in your browser.
Rates for the 2026-27 tax year, current as of 24 July 2026. Source: HMRC (gov.uk). Contains public sector information licensed under the Open Government Licence v3.0. Source: HMRC / gov.uk. See how we calculate.