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STUDENT LOAN / 2026-27 / UK

Student loan repayment calculator

See how much student loan comes out of your pay in 2026/27 on Plan 1, 2, 4 or 5 and the Postgraduate Loan, per payslip and per year.

Last verified: Methodology

Your details

01Pay

Pay that counts for National Insurance (after salary sacrifice). Self-employed: your total income on your tax return.

02Loan

Plan 1: started before Sept 2012 (England/Wales) or Northern Ireland. Plan 2: England Sept 2012 – July 2023, or Wales from Sept 2012. Plan 4: Scotland. Plan 5: England from Aug 2023.

Student loan repayment

£42

per month (2026/27)

Repayments per year
£504
Undergraduate plan per year
£504
Postgraduate Loan per year
£0
Threshold per payslip
£2,448.75
  • Each payslip is worked out on its own and rounded down to the pound, so a bonus month can trigger a repayment even if your yearly pay is under the threshold (you can ask for a refund).
  • If you have more than one undergraduate plan, the plan with the lowest threshold is collected first, at 9% of pay over that threshold.
  • Repayments are worked out on pay that counts for National Insurance, so salary sacrifice lowers them.

Student loan repayment: £42 per month (2026/27)

Repayments, Plan 2
LinePer monthYear
Earnings£2,917£35,000
Plan 2: 9% over £2,448.75 a month£42£504
Total repayments£42£504

Repayment thresholds 2026/27

Repayments start when pay in a pay period goes over that period's threshold.

PlanRatePer yearPer monthPer week
Plan 19%£26,900£2,241.66£517.30
Plan 29%£29,385£2,448.75£565.09
Plan 49%£33,795£2,816.25£649.90
Plan 59%£25,000£2,083.33£480.76
Postgraduate Loan6%£21,000£1,750.00£403.84

£42

per month (2026/27)

How it's calculated

Student loan repayments come out of your pay through PAYE once your pay for a pay period goes over your plan's threshold for that period. HMRC's payroll specification for 2026/27 sets these annual thresholds:HMRC

PlanYearly thresholdRate
Plan 1£26,9009%
Plan 2£29,3859%
Plan 4 (Scotland)£33,7959%
Plan 5£25,0009%
Postgraduate Loan£21,0006%

The weekly or monthly threshold is the yearly one divided by the number of pay periods, rounded down to the penny. Each repayment is the rate times your pay above that threshold, rounded down to the pound. Each payslip is worked out on its own. Employers collect only one undergraduate plan at a time, but a Postgraduate Loan is collected alongside it.

Pay here means earnings that count for National Insurance, so salary sacrifice reduces repayments, but pension contributions under a net pay arrangement do not.

The formula

  • Period threshold = yearly threshold ÷ pay periods (52, 26, 13 or 12), rounded down to the penny.
  • Repayment = rate × (pay − period threshold), rounded down to the pound, if pay is over the threshold.
  • Self Assessment: rate × (yearly income − yearly threshold).

Worked example

GOV.UK's example: on Plan 1, earning £2,750 a month, you repay £45 a month.GOV.UK The calculator gives £45.

On a £35,000 salary paid monthly, Plan 2 repayments are £42 a month, or £504 a year.

£35,000 a year, Plan 2, paid monthlySTUDENT LOAN / 2026-27 / UK
LinePer monthYear
Earnings£2,917£35,000
Plan 2: 9% over £2,448.75 a month£42£504
Total repayments£42£504

With a Postgraduate Loan as well, the total is £112 a month.

£35,000, Plan 2 and Postgraduate LoanSTUDENT LOAN / 2026-27 / UK
LinePer monthYear
Earnings£2,917£35,000
Plan 2: 9% over £2,448.75 a month£42£504
Postgraduate Loan: 6% over £1,750.00 a month£70£840
Total repayments£112£1,344

Assumptions and limitations

  • Equal pay in every period. A bonus month can trigger a repayment even if your yearly pay is below the threshold; you can claim it back after the tax year.
  • If you have more than one undergraduate plan, enter the one with the lowest threshold: that is the one your employer collects first.
  • Interest, your balance and when the loan is written off are not modelled; repayments depend only on income.
  • Repayments from more than one job are worked out separately for each job.
FAQ

Questions people ask

What are the student loan repayment thresholds for 2026/27?

For the 2026/27 tax year the yearly thresholds are £26,900 for Plan 1, £29,385 for Plan 2, £33,795 for Plan 4 and £25,000 for Plan 5. The Postgraduate Loan threshold is £21,000. Through payroll, these are turned into weekly or monthly thresholds, and you repay a percentage of anything you earn above the threshold in each pay period.

Which student loan plan am I on?

It depends on where you lived and when your course started. Plan 1 covers English and Welsh students who started before September 2012 and students from Northern Ireland. Plan 2 covers English students from September 2012 to July 2023 and Welsh students from September 2012. Plan 4 is for Scottish students and Plan 5 for English students from August 2023. Your online student loan account shows your plan.

How much do I repay on a student loan?

Undergraduate plans take 9% of your pay above the threshold and the Postgraduate Loan takes 6%. Each payslip is worked out separately and rounded down to the nearest pound. Repayments depend only on what you earn, not on how much you borrowed, so two people on the same salary and plan repay the same amount each month whatever their balance.

What if I have a Plan 1 and a Plan 2 loan?

You still repay 9% of your income, but only over the lowest threshold of the plans you have. Your employer collects one plan through payroll, and the Student Loans Company splits the money between your loans, capping what goes to the lowest-threshold plan. If you also have a Postgraduate Loan, the extra 6% repayment is collected at the same time.

Can I get a refund of student loan repayments?

If your income for the whole tax year was below your plan's yearly threshold but repayments were taken in a month when you earned more, such as a bonus month, you can ask the Student Loans Company for a refund after the tax year ends. You can also get money back if your employer used the wrong plan type, or once you have repaid more than your balance.

How do self-employed people repay student loans?

If you are self-employed, repayments are worked out on your Self Assessment tax return, using your total income for the year against the yearly threshold. They are paid with your tax bill. If you also have a job, your employer takes repayments through payroll and those are deducted from the amount due on your tax return.

Sources

  1. HMRCCollection of student loans from 6 April 2026 · retrieved 2026-10-16
  2. GOV.UK (HMRC)Rates and thresholds for employers 2026 to 2027 · retrieved 2026-10-16
  3. GOV.UKRepaying your student loan: What you pay · retrieved 2026-10-16

Last verified: CalcBloc Editorial Team