Plan 1 Student Loan Calculator
For students who started their course before September 2012
Plan 1 Calculator
Pre-2012 undergraduate loans with lower threshold and capped interest
£
£10k£150k
£
£
Enter your loan balance to see your forecast
Using Plan 1 defaults — Threshold: £26,065/yr, Interest: 3.2%, Repayment: 9%, Write-off: 25 years
How Plan 1 Repayments Work
Repayment Threshold
£26,065/year
You only repay on earnings above this threshold
Interest Rate
3.2%
Lower of RPI or Bank of England base rate + 1%
- Who this applies to: Students who started an undergraduate course in England or Wales before September 2012, or in Northern Ireland
- Repayment rate: 9% of earnings above the threshold
- Write-off: The remaining balance is written off after 25 years from when you became eligible to repay
- Example: If you earn £35,000/year, your monthly repayment would be approximately £67