Plan 5 student loan repayment calculator
Estimate Plan 5 student loan repayments for 2026/27: 9% of income above £25,000, for English courses started from 1 August 2023. Monthly and yearly.
Rule year: 2026/27 · GBP · Sources checked
Annualised student-loan repayment estimate
2026/27 annualised income estimate, not exact payslip withholding. Plan and lender eligibility must be checked with the Student Loans Company. Monthly values are annual averages. No cancellation date, account interest, balance cap or Self Assessment calculation is inferred. Future-year lender thresholds are not assumed.
For informational purposes only. This estimate is not financial advice, a tax return, a payroll calculation or a lender decision. See the supported circumstances and exclusions below.
How this calculator works
Plan 5 is the English income-contingent plan associated with eligible courses starting on or after 1 August 2023. Repayments began from April 2026 and use a £25,000 annual threshold in the supported tax year. Nine percent applies to income above that threshold. This is not a fixed loan instalment based on the outstanding balance, and Wales is not offered as a Plan 5 lender.
Formula and rules
Annual Plan 5 deduction = max(0, repayment-relevant salary − £25,000) × 9%. Optional postgraduate deduction = max(0, salary − £21,000) × 6%.
Assumptions and limitations
2026/27 annualised income estimate, not exact payslip withholding. Plan and lender eligibility must be checked with the Student Loans Company. Monthly values are annual averages. No cancellation date, account interest, balance cap or Self Assessment calculation is inferred. Future-year lender thresholds are not assumed.
Worked example
At £40,000, Plan 5 repayments are (£40,000 − £25,000) × 9% = £1,350 a year, or £112.50 as a monthly average. At £25,000 there is no Plan 5 deduction in this annualised model.
- Annualised student-loan repayment estimate
- £1,350.00
- Monthly average before payroll rounding
- £112.50
- Undergraduate repayment
- £1,350.00
- Postgraduate repayment
- £0.00
Useful next calculations
Choose a related task to continue with the right assumptions:
Official sources and review
Reviewed against the sources below on 2026-10-20. Rates are held in versioned rule modules. Versioned rules, official source review and year-specific calculation tests.
- HMRC: Rates and thresholds 2026 to 2027 ↗
Regional PAYE bands, Category A NI, student-loan plans and current minimum wage.
- GOV.UK: Student-loan repayment amounts ↗
Plan-based earnings deductions, postgraduate repayment and payroll-period limitations.
- GOV.UK: which student-loan repayment plan applies ↗
Plan eligibility follows lender and course details, not tax residence.
Common questions
Who is on Plan 5?
Eligible Student Finance England courses beginning on or after 1 August 2023 generally use Plan 5. Confirm your account’s plan with SLC.
Can postgraduate repayments apply as well?
Yes. A separate 6% above the postgraduate threshold can apply alongside the undergraduate plan.
Why can my monthly payslip differ?
Actual payroll uses period thresholds and rounding. Variable monthly earnings can differ from dividing an annual estimate by twelve.
Does this use 2027/28 assumptions?
No. Only reviewed 2026/27 rules are offered. A future England threshold does not establish the Wales threshold.