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Student Loan Calculator

Work out student loan repayments, interest, total repaid and the payoff or write-off date under your country's scheme: UK plans, US RAP, Australian HELP.

Reviewed by CentExactRates effective 15 sourcesCalculated in your browser. Shared links include inputs.

Monthly repayment in the first year

£42.11

Written off in April 2056 with £140,894 unpaid

Plan 2Interest at 4.82%
Your loan

Each country runs its own scheme, with its own interest and repayment rules.

For courses in England started from September 2012 to July 2023, and in Wales from September 2012: 9% of income over the threshold, written off after 30 years.

£
You
£

In the first year of repayment. Repayments here depend on it.

%

An assumption, not a forecast: pay rising by about 3% a year is close to long-run average earnings growth. Change it to what you expect.

Dates

The first repayment falls in April.

  • Total repaid

    £34,266

    over 30 yrs

  • Interest

    £130,160

    added to the balance

  • Written off

    April 2056

    after 30 years

  • Amount written off

    £140,894

    never repaid

How the first repayment is worked out

9% of income over the Plan 2 threshold, taken through payroll each pay period.

9% of income above £29,385.00 a year, divided by twelve.

On £35,000.00 that is £42.11 a month in the first year. Pay is assumed to rise by 3% a year and the threshold by 3%.

How interest is charged

RPI on income up to 29,385, rising to RPI plus 3% at 52,885 and over, capped at 6% from 1 September 2026 to 31 August 2027.

4.1% plus up to 3% more as income rises from £29,385.00 to £52,885.00: 4.817% on your income now, charged monthly.

When the loan ends

Written off 30 years after the April you were first due to repay, or on death or permanent disability.

Whatever is still owed 30 years after the first repayment is written off. Written off in April 2056 with £140,894 unpaid.

United Kingdom rules. An estimate, not financial advice, providers may calculate differently.

What you owe and what you have repaid
  • Owed
  • Repaid so far

Repayment schedule

Schedule view
Plan 2 repayments by year
YearRepaidOwed at year end

A result link includes the numbers you entered. Share it only with people you want to see them.

How this is calculated

Pick your country and scheme, and the calculator applies its own rules from the first repayment onwards: a share of your income above a threshold for an income-contingent loan, or a level instalment over the term for one repaid like any other loan. Each month it adds that scheme's interest or indexation to the balance and takes off the payment, until the balance is cleared or the write-off date comes, and it reports the monthly repayment, the total repaid, the interest and anything forgiven. Thresholds and rates are this year's, held for later years, with your pay rising at the rate you choose.

yearly repaymentshare × (income − threshold), and nothing below the threshold

share
the part of income over the threshold the scheme takes, such as 9%
threshold
the income below which nothing is repaid
Instalment loans repay a level amount instead; every scheme's figures are under Data sources.

What this does not include

  • Voluntary overpayments, career breaks, deferments and repayment holidays, which change the schedule.
  • Future changes to interest rates and thresholds beyond the stated assumptions.
  • A partner's income, which the Dutch and American income-based plans can count.
  • Public service loan forgiveness and other write-offs for particular jobs.
  • Income-based reductions you apply for, such as CSN's 5% of income or Canada's Repayment Assistance Plan.

Student loan guide: income-based repayment, interest and write-off. How income-contingent student loans differ from instalment loans, how interest and indexation work, when a balance is written off, with UK and US examples.

Data sources

United Kingdom: student loan plans 1, 2, 4, 5 and postgraduate, 2026-27GOV.UKWithin its effective period
United States: Direct loan repayment plans after Public Law 119-21Public Law 119-21Within its effective period
Australia: HELP debt repayment, 2026-27ATOWithin its effective period
New Zealand: student loan repayments for New Zealand-based borrowersInland RevenueWithin its effective period
Canada: Canada Student Loans and the Ontario portion of OSAP, 2026Government of CanadaWithin its effective period
Sweden: CSN annuitetslån, 2026Studiestödslag (1999:1395)Within its effective period
Netherlands: DUO studieschuld, SF35 and SF15, 2026Wet studiefinanciering 2000Within its effective period
Germany: BAföG Staatsdarlehen repayment, 2026BAföG § 17 FörderungsartenWithin its effective period
Japan: JASSO type 1 and type 2 scholarship loans, 2026JASSOWithin its effective period
Finland: state-guaranteed student loan (opintolaina), 2026KelaWithin its effective period
India: education loans under the IBA model scheme, 2026PIBWithin its effective period
Sri Lanka: Interest Free Student Loan Scheme (IFSLS), 2026Ministry of Higher EducationWithin its effective period
UK income tax (rUK and Scotland), Class 1 National Insurance and student loans, 2026/27GOV.UKWithin its effective period
Australia: individual income tax, Medicare levy, LITO, HELP and superannuation, 2026-27ATOWithin its effective period
New Zealand: PAYE, ACC earners' levy, KiwiSaver and student loan, 2026-27Inland RevenueWithin its effective period

Every document each dataset was read from, its notes and how the figures were checked are listed in the guide's data sources.

CentExactCalculator publisher

CentExact publishes the calculation method, worked examples and available data sources. Automated checks cover reference calculations; they do not certify a result for your circumstances or imply approval by a lender or tax authority.

How we build and test our calculators

This calculator is for general information only and is not financial advice. Results are estimates based on the figures you enter and the stated formula; lenders and providers may round or calculate differently. Check any decision with the institution involved or a qualified adviser.