How Much Will You Actually Repay on Your Student Loan?
The majority of UK graduates will never fully repay their student loan before it is written off. Your monthly repayment is always 9% of earnings above your plan threshold — your salary, not your balance, determines what you pay.
Monthly Repayment Examples on Plan 5
| Annual Salary | Monthly Repayment |
|---|---|
| £25,000 (threshold) | £0 |
| £30,000 | £37.50 |
| £35,000 | £75 |
| £45,000 | £150 |
| £60,000 | £262.50 |
Will You Ever Fully Pay It Off?
Research from the Institute for Fiscal Studies suggests roughly 25% of graduates under Plan 5 will repay in full. The rest will have some or all of their balance written off at the 40-year mark.
Salary Scenarios
| Starting Salary | Career Trajectory | Likely Outcome |
|---|---|---|
| £25,000 | Low growth | Written off, minimal repayment |
| £35,000 | Average growth | Written off, moderate repayment |
| £50,000 | High growth | Partially repaid |
| £70,000+ | Very high | Likely fully repaid |
Should You Make Voluntary Overpayments?
Only if you are absolutely certain you will repay the full balance before write-off. For most graduates, that money is better directed towards an ISA, pension, or emergency fund.
How to Check Your Balance
Log in to studentloans.co.uk. You can see your current balance, accruing interest, and repayment history. Check it once a year.
Figures are illustrative. Your repayments depend on salary, career progression, and future government policy changes.