Started an undergraduate course in England on or after 1 August 2023? You are on Plan 5. Enter your salary and loan below to estimate what you would repay each month, the total you might repay, and whether your loan is likely to be written off. Everything runs in your browser and nothing is stored.
Your estimate
Enter your details to see an estimate.
Estimate only, not financial advice. This uses the Plan 5 rules published on GOV.UK: 9% of income over £25,000 a year, interest at RPI, written off 40 years after the April you were first due to repay. It assumes the threshold and interest rate stay the same and adds interest once a year. For exact figures see GOV.UK: how much you repay and your Student Loans Company account.
Year-by-year breakdown
| Tax year from April | Salary | Repaid | Balance after |
|---|
Plan 5 rules this calculator uses
- Threshold: you repay only when your income is over £25,000 a year, £2,083 a month or £480 a week. GOV.UK
- Rate: 9% of your income over the threshold. The amount you owe does not change your monthly repayment. GOV.UK
- Interest: RPI only, 4.1% from 1 September 2026 to 31 August 2027, subject to any prevailing market rate cap. GOV.UK announcement, 10 August 2026
- Start: the earliest you repay is the April after you leave your course. GOV.UK
- Write-off: 40 years after the April you were first due to repay. GOV.UK
Figures checked against GOV.UK on 4 November 2026.
Want to understand the numbers in more depth? Read our guides to Plan 5 student loan interest, when student loan repayments start and student finance repayment explained, or browse all Student Finance guides.
Plan 5 repayment questions
- Who is on a Plan 5 student loan?
- Plan 5 applies to students from England who started an undergraduate course on or after 1 August 2023. Your Student Loans Company account and annual statement show which plan you are on.
- How much do I repay on Plan 5?
- You repay 9% of your income over the Plan 5 threshold of £25,000 a year (£2,083 a month or £480 a week). For example, on a salary of £30,000 you repay 9% of £5,000, which is £450 a year or about £37 a month. How much you owe does not change your monthly repayment.
- When do Plan 5 repayments start?
- The earliest you start repaying is the April after you leave your course, and only when your income is over the threshold. The first Plan 5 borrowers became due to repay from April 2026.
- What interest is charged on a Plan 5 loan?
- Plan 5 interest is set at the Retail Price Index (RPI) with nothing added. From 1 September 2026 to 31 August 2027 the rate is 4.1%. The rate can be capped if it goes above the prevailing market rate, and it is still added when your income is below the threshold.
- When is a Plan 5 loan written off?
- Plan 5 loans are written off 40 years after the April you were first due to repay. Anything left at that point is cancelled and you do not have to pay it.
- How accurate is this calculator?
- It is an estimate only, not financial advice. It assumes a steady salary growth rate, a fixed £25,000 threshold and a fixed interest rate, and adds interest once a year. Real thresholds, RPI and your pay will change, so check GOV.UK and your Student Loans Company account for exact figures.
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