Monthly Payment
£310.92
Total Repaid
£37,309.83
Interest
£7,309.83
Rates & sources
Standard amortisation formulas used across UK lenders. Interest rates move daily — confirm with your lender or broker.
Source: Bank of England — Statistics — figures refreshed at the start of each tax year.
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When to use this calculator
- Before comparing lenders, brokers, or repayment options.
- When you want to test how a different deposit, rate, or term changes affordability.
- When you need a quick estimate before using a formal quote or agreement in principle.
- When you are stress-testing your budget against a potential rate rise to see the impact on monthly payments.
- When you want to understand the full cost of borrowing — not just the monthly figure — before you commit.
A realistic UK planning example
Use these sample inputs as a quick scenario test, then change one variable at a time to compare outcomes.
Loan Amount (£)
£200,000
Interest Rate (%)
5%
Repayment Period (Years)
25 years
After entering these figures, review monthly payment, total repaid and interest together rather than in isolation — each metric tells a different part of the story. Then rerun the tool with one input adjusted to see which variable has the biggest effect on all three outputs before you settle on a plan.
How to read your results
Monthly Payment
Use this to check whether the scenario fits comfortably within your regular budget. If it looks tight, rerun the tool with a longer term or larger deposit to find the boundary of affordability.
Total Repaid
This is the headline outcome of the calculation, but it is most useful when read alongside the supporting metrics below it rather than in isolation. Try changing one input at a time and watching how this total moves to understand which driver has the biggest impact.
Interest
Use this metric to compare scenarios side by side and understand how changes in the key inputs drive the final outcome. If the figure surprises you, isolate one variable at a time and rerun the calculation to identify which assumption is responsible.
Method & assumptionsAuthoritative sources
This calculator models your projected student loan repayments based on your repayment plan, current loan balance, income, and anticipated salary growth. It applies the relevant income threshold for your plan and deducts 9% of earnings above that threshold each month, mirroring how the Student Loans Company and HMRC calculate deductions via payroll.
Interest is estimated using a simplified fixed rate for illustration; actual rates are updated periodically by the Student Loans Company. The calculator includes a write-off projection based on your plan's repayment term. It does not account for career breaks, changes in thresholds (which are reviewed annually), or postgraduate loan balances. Figures are for planning purposes only and not a statement of your official loan account, which you can access via the Student Loans Company online portal.
Common mistakes
- !Mixing up loan amount and property value, which can distort affordability and LTV.
- !Using a headline rate but forgetting fees, insurance, taxes, or repayment type.
- !Testing only one term length instead of comparing the payment and total cost together.
- !Forgetting that a repayment mortgage and an interest-only mortgage produce very different monthly figures and total costs.
- !Not accounting for the impact of a rate revert after an introductory fixed period ends, which can sharply increase payments.
What to do next
- Run a second scenario with a higher rate or shorter term so you can see the downside clearly.
- Compare the result with an affordability or overpayment calculator before applying.
- Use the related guides below to understand trade-offs before you request live quotes.
- Note down the monthly payment and total interest for your two or three strongest scenarios so you have a clear comparison ready when you speak to a broker.
- Check whether making a modest overpayment each month would reduce total interest significantly — run the overpayment calculator next to find out.
Frequently asked
Use arrow keys to navigate items, Enter or Space to expand/collapse.
End-of-article next steps
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