Student loan repayment calculator
See your estimated annual repayments, balance, interest and the effect of voluntary overpayments. Results are projections, not financial advice.
Your student loan
Start with the details you know. You can change the assumptions at any time.
Choose the plan shown in your student loan account or payroll details.
Before tax, National Insurance and other deductions.
Your balance is mainly needed for interest and payoff projections.
Leave at £0 to see the baseline scenario.
Used only for the projection; it is not a forecast of your actual salary.
Illustrative annual rate. Student loan interest rules and rates can change.
This model uses the current Plan 2 repayment threshold and rate, then projects one year at a time for up to 30 years. Actual payroll deductions are calculated by pay period.
Your headline estimate
£42per month
Estimated Plan 2 repayment in your first year
At this pace, a balance of £64,099 could remain after 30 years.
Monthly repayment
£42
Average in year 1
Annual repayment
£505
Mandatory repayment in year 1
Interest over projection
£84,622
Based on your interest assumption
Total paid
£70,523
Mandatory + voluntary payments
Estimated payoff
Not within 30 years
Balance remains after projection
Balance after projection
£64,099
Estimated balance after 30 years
Overpayment comparison
Compare the current setting with no voluntary overpayment. Neither scenario is a recommendation.
Interest saved
£0
Compared with no overpayment
Years saved
—
Only shown when both scenarios pay off
Extra paid voluntarily
£0
£0 per month
Balance over time
The projection includes interest, mandatory repayments and voluntary overpayments.
Annual interest and repayments
Interest charged is not the same as the amount that reduces your balance.
Sources and assumptions
Plan thresholds and repayment rates are taken from the calculator’s tax-year configuration. Projection interest and salary growth are user-adjustable assumptions.
This is an illustrative estimate, not your official student loan balance or personalised financial advice. Check your balance and plan through GOV.UK student loan services.
Voluntary overpayments may reduce the balance faster, but may not reduce your overall cost in every situation.