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Student Loan Repayment Calculator UK
See your monthly repayments, how long to pay off, and if your loan gets written off.
Monthly Repayment
£58
/month (£693/year)
40
Years to repay
£3,375
Annual interest
£27,738
Total repaid
Yes
Written off?
Your loan will be written off after 40 years. At your current salary, you won't repay it in full — and that's fine. The remaining balance is cancelled with no penalty.
Plan 2 (post-2012) Details
Repayment threshold£27,295/year
Repayment rate9% above threshold
Interest rate7.5%
Written off after40 years
How UK Student Loan Repayments Work
You repay 9% of everything you earn above £27,295/year. Below that threshold, you pay nothing. Repayments are deducted automatically through PAYE — you never have to make a manual payment.
The loan is written off after 40 years regardless of the remaining balance. For many graduates, especially on Plan 2, the loan functions more like a graduate tax than a traditional debt.