Blincoe Financial Planning
Student Loan Calculator
See how much you'll repay in total, when your loan is likely to end, and whether making voluntary overpayments actually makes financial sense.
Your loan
Your income
Assumptions
Not sure? Plan 2 covers most English and Welsh graduates from 2012 to 2022. Plan 5 applies if you started from 2023. Plan 4 is for Scottish students. Plan 1 covers pre-2012 English/Welsh and all Northern Irish borrowers.
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Your current loan balance. Find this on the Student Loans Company (SLC) website at slc.co.uk or your most recent statement.
£
Please enter your outstanding balance.
Usually the April after the year you graduated. For example, if you graduated in 2018, repayment typically started April 2019. Enter the year as four digits.
Please enter a valid year between 2000 and 2026.
Your salary before tax. Student loan repayments are calculated on gross earnings, including any bonus or commission where PAYE applies.
£
Please enter your current salary.
Your estimated average pay increase each year over the life of the loan. The UK long-run average is around 3–4%. Use a lower figure if you expect more modest growth.
%
Pre-filled with the approximate current maximum rate for Plan 2 (RPI + 3%). This applies if your income is above £49,130. If your income is lower, your actual rate will be less. Check slc.co.uk for the exact current rate.
%
Do you also have a Postgraduate Loan?
A separate loan for a Master's or Doctorate started after August 2016.
Your current outstanding postgraduate loan balance.
£
Are you considering overpaying?
Voluntarily paying more than your required monthly repayment.
How much extra you plan to pay each month on top of the standard repayment deducted from your salary.
£
Your projection
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Key figures
Loan plan
Repayment threshold
Repayment rate
Current monthly repayment
Write-off period
Estimated write-off / repayment year
Balance written off
Total estimated repayments
Overpayment analysis
Without overpaying — total repaid
With overpaying — total repaid
Net difference (cash)
Verdict
Postgraduate loan
Repayment threshold£21,000/yr — 6% above threshold
Current monthly repayment
Projected outcome
Balance written off
Total postgrad repayments
Both loans combined
Combined monthly repayment (now)
Combined lifetime repayments
Important: These figures are estimates only. This calculator uses the 2024/25 repayment thresholds, your assumed salary growth rate, and a fixed interest rate throughout. In reality, thresholds are adjusted annually (and may be frozen by government policy), interest rates change with RPI and Bank of England decisions, and your salary trajectory cannot be predicted. This calculator does not constitute financial advice. You should not make overpayment decisions based on this estimate alone.
Talk to Blincoe
Not sure what to do with your student loan?
Whether to overpay, when to prioritise other goals, and how your loan interacts with your pension and mortgage — these are questions worth getting right. We can help.
Get in touchBlincoe Financial Planning Ltd • Authorised through Sense Network • blincoe.uk