How does the Student Loan Calculator work?

UK Plan 2: repay 9% of income above £27,295/year; written off after 30 years Then: UK interest: RPI + 0–3% depending on income Then: US Standard: fixed monthly payment over 10 years Then: US IBR: 10% of discretionary income; forgiven after 20–25 years.

Can you give an example of how to use the Student Loan Calculator?

Example: Input UK Plan 2: £50k debt, £35k salary gives a result of Annual repayment = 9% × (£35k−£27,295) = £693/yr = £57.75/month.

Is the Student Loan Calculator free to use?

Yes — completely free with no registration, download, or subscription required. All calculations happen instantly in your browser.

How accurate is the Student Loan Calculator?

Our Student Loan Calculator uses verified mathematical formulas and is accurate to multiple decimal places. Results are calculated in real-time using the same methods used by professionals.

Can I use this Student Loan Calculator for real financial decisions?

This calculator is for educational and estimation purposes. For major financial decisions — especially mortgages, investments, or tax planning — always consult a qualified financial adviser.

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Student Loan Calculator

Principal ($)

Interest Rate (%)

Loan Term (years)

A student loan calculator estimates monthly payments, total repayment, and total interest under different repayment plans for UK (Plan 1, 2, 4, Postgraduate) or US (Standard, IBR, PAYE) student loans.

Symbol	Name	Unit	Description
P	Principal loan amount	$	—
r	Monthly interest rate	annual%/12	—
n	Number of payments	months	—
M	Monthly payment	$	—

Plan	Threshold	Rate	Write-off
Plan 1	£24,990/yr	9%	25 years or age 65
Plan 2	£27,295/yr	9%	30 years
Plan 4 (Scotland)	£31,395/yr	9%	30 years
Postgraduate	£21,000/yr	6%	30 years

References

›Student loan repayment — Student Loans Company

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Student Loan Calculator

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