Student loans, 2026/27
Student loan repayment calculator
Monthly repayments for every plan, and what you take home.
Payments
Deductions
Checked 20 October 2026 against GOV.UK, Rates and thresholds for employers 2026 to 2027, and the Scottish Rate Resolution 2026-27. How we check.
Does not model benefits in kind, two jobs or directors' National Insurance. Monthly figures are the yearly amounts divided by 12. Payslips can differ by a few pounds a year.
These figures are estimates based on the information you entered and the 2026/27 rates and thresholds published by HMRC (and, for Scottish taxpayers, the Scottish Parliament). They are general information, not tax, financial or legal advice. Your actual take-home pay can differ, for example because of your tax code, pension arrangements, benefits, student loan plan or payroll timing. Check your payslip, or ask your employer or HMRC, before relying on these figures.
Every plan at this salary
| Plan | Threshold | Rate | A month | A year |
|---|---|---|---|---|
| Plan 1 | £26,900 | 9% | £60.75 | £729.00 |
| Plan 2 | £29,385 | 9% | £42.11 | £505.35 |
| Plan 4 (Scotland) | £33,795 | 9% | £9.04 | £108.45 |
| Plan 5 | £25,000 | 9% | £75.00 | £900.00 |
| Postgraduate Loan | £21,000 | 6% | £70.00 | £840.00 |
Repayments come out before the pay reaches you
Student loan repayments are taken through payroll on pay above your plan's threshold, so they show on the payslip beside tax and National Insurance.
Which plan am I on?
- Plan 1: English or Welsh students who started an undergraduate course before 1 September 2012, and Northern Irish students.
- Plan 2: English or Welsh students who started an undergraduate course on or after 1 September 2012. For English students, courses that started before 1 August 2023.
- Plan 4: Scottish students.
- Plan 5: English students who started an undergraduate course on or after 1 August 2023.
- Postgraduate Loan: English or Welsh students with a Postgraduate Master's or Doctoral Loan.
Your plan is shown in your online student loan account. Source: GOV.UK: Repaying your student loan, which repayment plan you're on.
2026/27 thresholds
| Plan | 2026/27 | 2025/26 | Rate |
|---|---|---|---|
| Plan 1 | £26,900 | £26,065 | 9% |
| Plan 2 | £29,385 | £28,470 | 9% |
| Plan 4 | £33,795 | £32,745 | 9% |
| Plan 5 | £25,000 | No threshold published | 9% |
| Postgraduate Loan | £21,000 | £21,000 | 6% |
The Plan 2 threshold is due to stay at £29,385 from 2027/28 to 2029/30 for English borrowers (GOV.UK: Budget 2025, overview of tax legislation and rates); the Welsh Government decides for Welsh borrowers.
How repayments are taken
Your employer takes 9% of pay above your plan's threshold (6% for a Postgraduate Loan) each pay period, using your pay for that period. A month's threshold is one twelfth of the yearly figure, so a bonus month can mean a larger repayment even if your yearly pay is below the threshold. If you have more than one undergraduate plan, 9% is taken on pay above the lowest threshold. Postgraduate Loan repayments are taken on top. Source: GOV.UK: Special rules for student loans.