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Student Loan Calculator

Will your loan write off — and are overpayments worth making?

Model your UK student loan repayment trajectory across Plan 1, 2, 4, 5 and Postgraduate loans. See whether your balance will grow or shrink, whether the loan writes off, and the mathematically optimal repayment strategy for your salary.

Your loan

Undergraduate plan type

Check your balance at manage-your-student-loan.service.gov.uk

0 if repayments have not yet started. Repayments typically begin the April after graduation.

I also have a Postgraduate Loan

Master's or doctoral loan in England/Wales

Your income

Average annual salary increase. 3% is roughly in line with long-run UK wage growth.

Voluntary overpayments (optional)

On top of your automatic mandatory repayment. Leave at 0 to see the mandatory-only projection.

This calculator provides information and guidance only. It does not constitute regulated financial advice under the Financial Services and Markets Act 2000. Outputs are illustrative and based on current assumptions — they are not a prediction of future returns or outcomes. Tax rules, allowances, and legislation may change. Please consult a regulated financial adviser before making significant financial decisions.

Current repayment snapshot

Monthly mandatory repayment

£58

Plan 2 interest rate

4.2%

£1,871/year accruing

⚠Balance currently growing — interest exceeds mandatory repayments at your current salary

Mathematical best option for you

Best option

Pay minimum only

£42,013

total repaid

Written off in 2055 — £93,327 cancelled

Enter a monthly voluntary overpayment amount above to see whether overpaying or investing the difference is the better strategy for your loan.
Plan 2Partially repaid, then written off
Current balance
£45,000
Write-off date
2056 (30y away)
Total to be repaid
£42,013
Balance written off
£93,327
Monthly repayment now
£58

Your Plan 2 loan is projected to write off in 2056 with approximately £93,327 remaining unpaid. This means you will never have to repay that amount — it is cancelled automatically. This is not a bad outcome. It is how the system is designed to work for borrowers on typical graduate salaries.

Loan balance over time

Salary and repayment projection

Year-by-year projection

Mandatory repayments only. Scroll for full detail.

YearSalaryThresholdRepaymentInterestBalance
2026£35,000£27,295£693£1,871£46,178
2027£36,050£27,977£727£1,931£47,383
2028£37,132£28,677£761£1,993£48,614
2029£38,245£29,394£797£2,056£49,874
2030£39,393£30,129£834£2,121£51,161
2031£40,575£30,882£872£2,188£52,477
2032£41,792£31,654£912£2,257£53,822
2033£43,046£32,445£954£2,328£55,196
2034£44,337£33,256£997£2,401£56,599
2035£45,667£34,088£1,042£2,476£58,033
2036£47,037£34,940£1,089£2,553£59,496
2037£48,448£35,813£1,137£2,632£60,991
2038£49,902£36,709£1,187£2,713£62,516
2039£51,399£37,626£1,239£2,796£64,073
2040£52,941£38,567£1,294£2,882£65,661
2041£54,529£39,531£1,350£2,970£67,281
2042£56,165£40,520£1,408£3,060£68,933
2043£57,850£41,533£1,469£3,153£70,617
2044£59,585£42,571£1,531£3,248£72,333
2045£61,373£43,635£1,596£3,345£74,082
2046£63,214£44,726£1,664£3,445£75,863
2047£65,110£45,844£1,734£3,547£77,676
2048£67,064£46,990£1,807£3,652£79,522
2049£69,076£48,165£1,882£3,760£81,400
2050£71,148£49,369£1,960£3,870£83,310
2051£73,282£50,603£2,041£3,983£85,251
2052£75,481£51,868£2,125£4,098£87,224
2053£77,745£53,165£2,212£4,216£89,228
2054£80,077£54,494£2,302£4,337£91,263
2055Write-off£82,480£55,857£2,396£4,460£0£93,327 cancelled
Your Plan 2 balance is currently growing faster than your repayments. At your current salary of £35,000, interest of £1,871/year exceeds your mandatory repayments of £693/year. This is normal for Plan 2 borrowers early in their career and does not mean you need to overpay.

Want a complete retirement projection?

For a complete retirement projection including tax, State Pension, and 10,000 Monte Carlo simulations — use our full retirement planner.

Open retirement planner

This calculator is for illustrative purposes only and does not constitute financial advice. Student loan repayment projections are based on current repayment thresholds, interest rates, and write-off terms which are set by the UK government and subject to change — particularly for Plan 2 and Plan 5 loans which have historically seen policy changes. The Plan 2 interest rate is estimated using linear interpolation between the published thresholds and may not exactly match your Student Loans Company statement. Salary growth is modelled as a fixed annual percentage which will differ from actual career progression. The mathematical comparison between repayment strategies is illustrative only — personal circumstances, cash flow needs, and psychological factors are not captured by this model. Selvox accepts no liability for decisions made in reliance on these outputs. For questions about your specific loan balance or repayment schedule, contact the Student Loans Company directly.