£37,000 student loan repayment by plan
Each plan repays 9% of income above its own threshold, except a postgraduate loan, which is 6%. The plan you are on depends on when and where you studied.
| Plan | Threshold | Repayment a month | A year | Take-home after loan |
|---|---|---|---|---|
| Plan 1 | £26,900 | £76 | £909 | £29,251 |
| Plan 2 | £29,385 | £57 | £685 | £29,474 |
| Plan 4 (Scotland) | £33,795 | £24 | £288 | £29,871 |
| Plan 5 | £25,000 | £90 | £1,080 | £29,080 |
| Postgraduate Loan | £21,000 | £80 | £960 | £29,200 |
£37,000 with an undergraduate and a postgraduate loan together
A postgraduate loan is a separate deduction, so someone repaying both pays 9% above the undergraduate threshold and 6% above £21,000, from the same salary.
| Combination | Repayment a month | A year | Take-home after both |
|---|---|---|---|
| Plan 2 + Postgraduate Loan | £137 | £1,645 | £28,514 |
| Plan 5 + Postgraduate Loan | £170 | £2,040 | £28,120 |
What a student loan takes from £37,000
The repayment comes out of pay after income tax and National Insurance, so it does not reduce either. On Plan 5, £37,000 leaves about £29,080 a year in the hand against £30,160 with no loan, a difference of £1,080. The balance is written off after 40 years on Plan 5, so on a modest salary the monthly figure, not the balance, is what matters.
Student loan on £37,000 in Scotland
A Scottish undergraduate is on Plan 4, which starts at £33,795, so the loan on £37,000 is £288 a year. Scottish income tax also differs, so take-home after the loan is about £29,836. The Scottish income tax calculator shows the tax side.
Salaries near £37,000
Work out your own figure
The tables assume the whole salary is above the threshold for the year and no change of job mid-year. Open the student loan repayment calculator to set your exact salary, plan and postgraduate loan, or see £37,000 after tax for the full take-home breakdown.