Student Loan Repayment Calculator | Canada

Plan 1 covers loans from English/Welsh students who started before September 2012, or Scottish/Northern Irish students. Plan 2 covers English/Welsh students who started between September 2012 and July 2023. Plan 4 is for Scottish students who started after 1998. Plan 5 covers new English students starting from September 2023 onwards — it uses the same threshold as Plan 2 (£27,295 for 2025/26) but has a 40-year write-off period instead of 30 years.

For 2025/26, the repayment thresholds are: Plan 1 — £24,990 per year (£2,082/month); Plan 2 and Plan 5 — £27,295 per year (£2,274/month); Plan 4 — £31,395 per year (£2,616/month). You repay 9% of everything you earn above the threshold. If your salary is below the threshold, you make no repayments.

For Plan 1, any remaining balance is written off 25 years after the April you were first due to repay. For Plan 2, the balance is written off 30 years after the April you were first due to repay, or when you turn 65 (whichever comes first). For Plan 4, it is written off 30 years after repayment was due. For Plan 5, it is written off after 40 years. Many borrowers on Plan 2 and 5 will never fully repay their loans.

Student loan interest rates are linked to inflation (RPI for Plan 1, Plan 4; RPI or RPI+3% for Plan 2 depending on income; RPI+3% for Plan 5 while studying, then RPI based on income after). The government caps Plan 2 and Plan 5 rates to prevent them exceeding comparable market rates. Current rates for 2025/26 vary — check the Student Loans Company for the latest figures.

No. Student loans in the UK do not appear on your credit file and do not directly affect your credit score. However, mortgage lenders may consider your student loan repayments as a monthly commitment, which could reduce the amount they are willing to lend you, as it affects your disposable income.

For most borrowers on Plan 2 or Plan 5, early repayment is not recommended. If you are unlikely to repay your loan within the 30–40 year write-off window, making overpayments is money you will never see benefit from. Only high earners who are certain to repay in full may benefit from early repayment. Plan 1 borrowers with lower balances may find early repayment worthwhile. Always check your personal situation carefully before making voluntary repayments.

Scottish students who took loans from the Student Awards Agency Scotland (SAAS) are on Plan 4, which has the highest repayment threshold (£31,395 for 2025/26). Scottish students repay 9% of earnings above this threshold. Plan 4 loans are written off after 30 years. Scottish students studying at Scottish universities also benefit from free tuition, meaning their borrowing is typically much lower than English counterparts.

This calculator provides an estimate based on the salary and loan balance you enter. It assumes a static salary and a fixed interest rate, whereas in reality both change over time. The 30-year cap shown for loans unlikely to be repaid is approximate. For your actual repayment figures, log in to the Student Loans Company portal or contact them directly.