Student loans don't work like normal loans — you repay a share of your income above a threshold, and any balance left is written off (UK) or forgiven (US) after a set number of years. Switch between the UK and US systems below to see how long yours takes to clear, what you'll repay in total, and how much (if any) is cancelled.
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Unlike a car loan or mortgage, most student loans are income-contingent: you don't pay a fixed monthly amount over a set term. Instead you repay a percentage of whatever you earn above a threshold, and anything still outstanding after a set number of years is cancelled. If you earn little, you pay little; if you earn nothing above the threshold, you pay nothing.
In the UK, most graduates repay 9% of income above the threshold (around £27,295 on Plan 2), with the balance written off after 30 years (40 years on the newer Plan 5). In the US, income-driven plans (IBR, PAYE, SAVE) charge roughly 10% of discretionary income — your income above about 150% of the federal poverty line — with the remainder forgiven after 20–25 years.
This calculator simulates your balance month by month: interest is added, your income-based repayment is subtracted, and your income grows each year by the pay-rise figure you enter. It then tells you whether you clear the loan in full — and if not, how much is written off.
Looking at a US standard 10-year fixed plan instead? That works like an ordinary amortising loan — use our Loan Repayment Calculator for that.
Estimates only, and not financial advice. Thresholds, rates and write-off periods change between tax years and plans — always check your loan provider (Student Loans Company in the UK, your federal servicer in the US) for your exact terms.
Usually not. Most student loans are income-contingent — you repay a share of your income above a threshold for as long as you earn over it, and any balance left is written off (UK, after 30–40 years) or forgiven (US income-driven plans, after 20–25 years). The US standard plan is the main exception: it's a fixed 10-year schedule.
Nothing bad — it's by design. When you reach the write-off or forgiveness point, the remaining balance is cancelled and you simply stop paying. Many borrowers, especially on lower or middle incomes, never repay the full amount.
A percentage of your income above the threshold — not a percentage of the loan. On UK Plan 2 that's 9% of everything you earn over the threshold; on US income-driven plans it's around 10% of your discretionary income. Earn more and you repay more; if your income drops below the threshold, repayments pause.
Often not — and this is where student loans differ from normal debt. If you're likely to have your balance written off before clearing it, overpaying just hands money to the lender that you'd otherwise never have paid. Overpaying mainly helps high earners who will clear the loan well before the write-off date. Run your numbers above before making extra payments.