What's My Student Loan?
See exactly how long it takes to repay your UK student loan, how much interest you'll pay, and whether it gets written off — using the latest 2026/27 rates.
Loan Details
Select Your Repayment Plan
England & Wales starters from September 2012 to July 2023. Interest slides from 3.2% up to 6.2% based on income.
Threshold
£27,295
Interest
3.2% – 6.2%
Repayment
9%
Write-off
30 years
Student Loan Guide
When Do You Start Repaying?
Student loans in the UK function more like a graduate tax rather than traditional debt. Here are the key points to understand:
- You will have fixed monthly payments but they will adjust based on your income
- If your income falls below the threshold, repayments pause automatically
- After the loan term (typically 30 years), any remaining debt is forgiven
- The repayment system is designed to be manageable and responsive to your financial circumstances
Compare Loan Plans
Threshold
£27,295
per year
Monthly
£2,275
threshold
Rate
9%
above threshold
Interest
3.2% to 6.2%
current rate
Written off after 30 years
Repayment Triggers
Graduate from your course
Repayments start the following April
Leave your course early
Repayments start the following April
How Repayments Work
Income-Based
Only pay when earning above the threshold
Automatic Deductions
Taken directly from your salary
Making Extra Payments
You have the option to make additional payments to reduce your loan balance more quickly and minimize interest accumulation. However, it's crucial to evaluate whether this strategy benefits your financial situation, especially for those with Plan 2 loans.
For many borrowers, particularly high earners, the interest rates may lead to paying more over time. It's advisable to perform a thorough financial analysis or consult a financial advisor before making extra payments.
Types of Student Funding
Repayable Funding
Tuition Fee Loan
Covers your course fees
Maintenance Loan
Helps with living costs
Postgraduate Loan
For Master's or Doctoral study
Non-Repayable Funding
Grants
Based on household income
Bursaries
From universities or NHS
Scholarships
Merit-based awards
Long-Term Perspective
While student loans in the UK can extend over 25-30 years, they're designed to be manageable throughout your career. The income-based repayment system means you'll never face unaffordable fixed payments, and the automatic write-off ensures you won't be stuck with the debt indefinitely.
Remember that your repayments are always proportional to your earnings, making them more like a graduate contribution than a traditional loan. This system ensures that higher education remains accessible while sharing the cost between graduates and the government.
Want to See Your Full Take-Home Pay?
Use our take-home pay calculator to see your net salary after tax, National Insurance, student loan repayments, and other deductions.
Calculate Take-Home Pay