Quick answer
Estimate your monthly and annual student loan repayment for 2026/27 based on your income, employment status and repayment plan. It uses the rates and thresholds HMRC has published for 2026/27 (Thresholds used for 2026/27: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, postgraduate loan £21,000). Worked example: with annual income used for student loan repayment £34,000, repayment plan Plan 2, the result is monthly repayment £35 and annual repayment £415. Free to use, no sign-up, from LimitedCompany.Accountants (ICAEW-regulated ACCOTAX).
Directors and employees repaying a student loan have deductions calculated on income above a plan-specific threshold. This calculator shows the monthly repayment you can expect from salary or self-assessment for the year ahead.
The student loan calculator runs on the rates and thresholds HMRC has published for the 2026/27 tax year, so the figures you see reflect the position your company is actually filing on rather than a historic set of bands. Change any input and the result recalculates immediately, with no sign-up and nothing sent anywhere.
If you are a director of a UK limited company, use it as a first look before a decision rather than as the decision itself. Thresholds used for 2026/27: Plan 1 £26,900, Plan 2 £29,385, Plan 4 £33,795, Plan 5 £25,000, postgraduate loan £21,000. Real company positions bring in other income, reliefs, group structures and prior year adjustments that a single page of inputs cannot see, which is why the workings are written out below under personal & self assessment tax. Read those, then check the numbers against your own accounts, and speak to us if anything looks materially different from what you expected.
Last checked against HMRC rates: 12 September 2026 (2026/27 tax year). Reviewed by Waqas Sagar, Member of ICAEW, Fellow of ACCA, Fellow of AAT.
Result, 2026/27
Monthly repayment
Annual repayment
Repayment threshold
Rate above the threshold
Illustration only, figures are based on the rates you have selected and the information entered. Please check your own position with us before acting.
Estimates for the 2026/27 tax year using published GOV.UK rates. Switch between 2026/27 and 2025/26 above.
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Book a free general call WhatsApp usBook technical advice (paid)This calculator applies the standard student loan repayment formula: 9% of income above the relevant plan's threshold for undergraduate loans, or 6% above the postgraduate loan threshold. Each plan has its own threshold, so the plan you are on has a real effect on how much comes out of your pay each month.
Plan 2 has the highest threshold of the undergraduate plans at £29,385, reflecting loans taken out in England and Wales from 2012 to 2023. Plan 5, for loans from 2023 onwards, has a lower threshold of £25,000, meaning repayments start sooner and continue for longer, up to 40 years, rather than being written off after 30.
If you have both an undergraduate plan and a postgraduate loan, both deductions apply simultaneously against their own separate thresholds, which this calculator does not combine; run each plan through separately and add the results together.
Employees have student loan repayments deducted automatically through PAYE by their employer, based on pay in each period compared to the pro-rated threshold for that period. Self-employed people instead have their repayment calculated on their full self-assessment return, based on total annual profit compared to the annual threshold.
This can create timing differences: an employee with uneven monthly pay may have too much or too little deducted across the year compared with the annual calculation a self-employed person faces in one go.
For company directors, only earned income counted for student loan purposes matters for PAYE deductions on salary, but the annual self-assessment calculation includes dividend income too when working out the total repayment due for the year, which can create an unexpected balance to pay through the tax return.
This is a common surprise for directors who keep salary low and draw dividends, since PAYE will show minimal or no student loan deduction, while the year-end self-assessment calculation includes dividends and produces a repayment due.
Treat the result as a planning figure for the 2026/27 tax year. If it changes what you were about to do, take a director's salary, a dividend, a large asset purchase or a filing decision, check it against your own accounts first. We can review the position with you and confirm the tax treatment before you commit.
It depends on where you studied and when your course started. Plan 1 generally applies to English and Welsh students starting before 2012, Plan 2 from 2012 to 2023, Plan 5 from 2023 onwards, and Plan 4 to Scottish students; you can check your exact plan on your Student Loans Company account.
Yes, for the annual self-assessment calculation, total income including dividends is used to work out the repayment due for the year, even though PAYE deductions during the year are based on salary alone.
Yes, voluntary overpayments can be made directly to the Student Loans Company at any time, which reduces the interest charged over the life of the loan, though this needs weighing against other financial priorities.
Both are repaid at the same time from the same income, each against its own threshold, so a graduate with both loans effectively pays 9% above one threshold and 6% above the other, on the same pay.
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