Student Loan Payoff Projector
See when your student loan will be paid off or written off, and how voluntary overpayments can help. Supports all UK plans: Plan 1, 2, 4, 5, and Postgraduate.
Total amount you still owe
Gross annual income (for repayment calculation)
Assumed annual increase (e.g., 2.5 for 2.5%)
Optional extra monthly payment (compounded annually)
Used to calculate write-off eligibility
Monthly Repayment
£49
Write-off Date
April 2055
Loan will be written off
Total Amount Repaid
£47,889
Total Interest Paid
£288,114
Amount Written Off
£145,112
You're unlikely to repay this loan in full
Year-by-Year Projection
Estimated repayments and remaining balance over time
| Year | Salary | Annual Repay | Interest | Balance |
|---|---|---|---|---|
| 2026 | £35,000 | £588 | £2,154 | £51,567 |
| 2027 | £35,700 | £651 | £2,271 | £53,187 |
| 2028 | £36,414 | £715 | £2,395 | £54,867 |
| 2029 | £37,142 | £781 | £2,526 | £56,612 |
| 2030 | £37,885 | £847 | £2,664 | £58,429 |
| 2031 | £38,643 | £916 | £2,810 | £60,323 |
| 2032 | £39,416 | £985 | £2,965 | £62,303 |
| 2033 | £40,204 | £1,056 | £3,130 | £64,377 |
| 2034 | £41,008 | £1,128 | £3,305 | £66,553 |
| 2035 | £41,828 | £1,202 | £3,492 | £68,843 |
Showing first 10 years of 30 projected years
Voluntary overpayments can help
Understanding Your Student Loan
Student loan repayment is one of the most misunderstood aspects of UK personal finance. Many borrowers, particularly those on Plan 2 (the most common plan for undergraduates), will never fully repay their loan before it is written off. Understanding your plan, your payoff timeline, and the impact of voluntary overpayments empowers you to make informed financial decisions.
Each of the five student loan plans operates under different rules. Plan 2 borrowers must repay 9% of income above the £29,385 threshold, whilst those on Plan 5 have a lower threshold of £25,000. Postgraduate loans use a 6% repayment rate. Interest accumulates on your balance throughout, with rates varying by plan and income level.
This projector gives you an honest, clear picture of your likely payoff or write-off date based on your current salary, expected salary growth, and any voluntary overpayments. Use it to explore whether overpaying makes financial sense for your circumstances, or whether you're better off investing spare money elsewhere.
Student loan repayment thresholds by plan (2026/27)
You repay 9% of your income above your plan's threshold (6% for Postgraduate loans), deducted automatically through payroll alongside Income Tax and National Insurance:
- Plan 1 — threshold £26,900, written off 25 years after starting to repay.
- Plan 2 — threshold £29,385, written off after 30 years.
- Plan 4 (Scotland) — threshold £33,795, written off after 30 years.
- Plan 5 — threshold £25,000, written off after 40 years.
- Postgraduate loan — threshold £21,000, rate 6%, written off after 30 years.
For example, on a £35,000 salary on Plan 2, you repay 9% of the £5,615 above the threshold — about £505 a year, or £42 a month. If you have both an undergraduate and a postgraduate loan, repayments are calculated independently and can apply at the same time.