Calculate your student loan repayments for Plan 1, 2, 4, 5, and Postgraduate loans
| Loan Plan | Weekly Threshold | Monthly Threshold | Annual Threshold | Rate |
|---|---|---|---|---|
| Plan 1 | £423 | £1,834 | £22,015 | 9% |
| Plan 2 | £524 | £2,274 | £27,295 | 9% |
| Plan 4 | £532 | £2,305 | £27,660 | 9% |
| Plan 5 | £480 | £2,083 | £25,000 | 9% |
| Postgraduate | £403 | £1,750 | £21,000 | 6% |
| Plan Type | Write-off Condition |
|---|---|
| Plan 1 (Pre-2006) | When you reach 65 |
| Plan 1 (Post-2006) | 25 years after first repayment |
| Plan 2 | 30 years after first repayment |
| Plan 4 | 30 years after first repayment |
| Plan 5 | 40 years after first repayment |
| Postgraduate | 30 years after first repayment |
For most graduates, it's not worth paying off early. Student loans don't affect your credit score, and many people never fully repay before write-off. Only consider early repayment if you're a high earner who will definitely pay it all back with interest.
Student loans don't appear on credit files, but lenders consider the monthly repayments when assessing affordability. They reduce your disposable income, which may affect how much you can borrow.
You must inform the Student Loans Company if you move abroad. You'll still need to make repayments based on the income thresholds for your country of residence.
No, you cannot switch between repayment plans. Your plan is determined by when and where you studied.
You only make repayments if your income exceeds the threshold. If your maternity pay is below the threshold, repayments automatically stop.