Repayments begin at different income levels depending on which student loan plan you're on.
Interest rates and write-off dates vary between plans, affecting the total you may repay.
Two people earning the same today may follow very different repayment paths over time.
Student loan plans were introduced at different times and each follows its own repayment rules.
Two people earning exactly the same salary may therefore repay different amounts because their repayment thresholds, interest rates and write-off dates are different.
That's why salary alone doesn't tell you how much you'll repay over the lifetime of your loan.
Even on the same salary, different repayment plans can produce different repayments because the thresholds and rules are not the same. Find out which student loan plan you're on.
| Plan | Repayment threshold | Approx. yearly repayment | Write-off |
|---|---|---|---|
| Plan 1 | £26,900 | Higher | 25 years |
| Plan 2 | £29,385 | Lower | 30 years |
| Plan 5 | £25,000 | Higher | 40 years |
The same salary does not guarantee the same repayment. Your student loan plan is just as important as your income when predicting what you'll repay over time.
Your salary is only one part of the student loan system. Your repayment plan, interest and write-off rules all influence how much you ultimately repay.
Two people earning exactly the same salary today can experience very different student loan outcomes over time.
No. Your loan plan, threshold and write-off rules all affect your repayment.
Possibly. It depends on whether full repayment already looks realistic.
Use a calculator that compares your plan, salary, balance and overpayment options.
Use the Wayli Student Loan Calculator to calculate your own outcome.
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