Combined Student Loan Calculator
Calculate repayments when you have multiple student loan types (e.g. Plan 2 + Postgraduate)
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Undergraduate Loan
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Threshold: £29,385 | Repayment: 9% | Write-off: 30 years
Postgraduate Loan
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Threshold: £21,000 | Repayment: 6% | Write-off: 30 years
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Enable at least one loan type to see combined results
How Multiple Loans Work Together
If you have both an undergraduate and postgraduate loan, they're collected together but calculated separately:
- Separate thresholds: Each loan type has its own repayment threshold
- Different rates: Undergraduate loans are 9% of earnings above threshold; Postgraduate is 6%
- Combined deduction: Both amounts are deducted together from your pay
Plan 2: Threshold: £29,385/yr, Interest: 6.2%, Repayment: 9%, Salary Growth: 2%, Write-off: 30 years | Postgraduate: Threshold: £21,000/yr, Interest: 6.2%, Repayment: 6%, Salary Growth: 2%, Write-off: 30 years
Combined Loans: Common Questions
- How do multiple student loan repayments work?
- If you have an undergraduate loan and a Postgraduate loan, two separate deductions come out of your pay each month. Each loan has its own threshold and rate: 9% above the undergraduate threshold and 6% above the postgraduate threshold. The amounts are calculated independently of each other.
- How much will I repay if I have both undergraduate and postgraduate loans?
- On a £40,000 salary with Plan 2 and a Postgraduate loan you would pay roughly £80 a month for the undergraduate part (9% above £29,385) and £95 a month for the postgraduate part (6% above £21,000). That adds up to around £175 a month.
- Are undergraduate and postgraduate loans written off at the same time?
- Not necessarily. Each loan has its own clock, starting from the April after you finished that particular course. A postgraduate loan taken three years after your undergraduate degree would be cancelled three years later too.
- Can I choose which student loan to repay first?
- No. HMRC collects both deductions through your payslip automatically and you cannot direct payments to one loan over the other. If you want to clear a specific loan faster, you can make voluntary overpayments to that loan through the Student Loans Company.