UK money
Student loan calculator 2026/27
Annual and monthly repayments for the current student loan plans.
How to use it
- Enter gross income for the year.
- Tick the plan or plans. A postgraduate loan can sit alongside an undergraduate plan.
- Read the annual repayment and the monthly payroll figure.
Annual and monthly are not the same sum
The annual column uses the published annual threshold and rounds to the nearest penny. Plan 1 on £42,000 is £1,359 for the year: 9% of £42,000 minus £26,900.
The monthly column takes one twelfth of the annual income and applies the published monthly threshold, then rounds the deduction down to a whole pound, which is the payroll rule. For that same Plan 1 salary the month is £113, not £1,359 divided by 12.
More than one plan
Undergraduate plans do not stack. If Plan 1 and Plan 2 both apply, you repay 9% above the lower threshold only. A postgraduate loan is a separate 6% on top. Salary sacrifice changes the pay the repayment is based on; this page uses the income you type, before that kind of arrangement. The take-home calculator can combine them.
Sources for 2026/27
- Income Tax rates and Personal Allowances
- HMRC Income Tax rates and allowances, current and past
- Scottish Income Tax
- Scottish Rate Resolution 2026-27
- National Insurance: how much you pay
- Employer NI rates and thresholds 2026 to 2027
- Student loan repayments
- Employer student loan guidance
- Pension tax relief
- SDLT residential rates
- SDLT higher rates for additional properties
- VAT rates
- Capital Gains Tax rates
- Business Asset Disposal Relief
- Shares and Capital Gains Tax (HS284)
- Personal Savings Allowance
- Individual Savings Accounts
- Capital Gains Tax losses
- HMRC cryptoassets manual: pooling example CRYPTO22255
- Pension scheme investments and tax
Rates were reviewed on 8 October 2026. Email hello@oddjobby.co.uk if a figure looks out of date.
Questions
Which threshold is Plan 5?
£25,000 a year for 2026/27, from the Student Loans Company repayment page linked in the sources.
Do you take the repayment by direct debit?
No. This only estimates the payroll deduction. It does not see your balance or collect money.
Why is the monthly figure lower than the annual figure divided by 12?
Payroll rounds the monthly deduction down to a pound, and it uses the monthly threshold rather than a twelfth of the annual one.