£45,000 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 | £136 | £1,629 | £34,291 |
| Plan 2 | £29,385 | £117 | £1,405 | £34,514 |
| Plan 4 (Scotland) | £33,795 | £84 | £1,008 | £34,911 |
| Plan 5 | £25,000 | £150 | £1,800 | £34,120 |
| Postgraduate Loan | £21,000 | £120 | £1,440 | £34,480 |
£45,000 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 | £237 | £2,845 | £33,074 |
| Plan 5 + Postgraduate Loan | £270 | £3,240 | £32,680 |
What a student loan takes from £45,000
The repayment comes out of pay after income tax and National Insurance, so it does not reduce either. On Plan 5, £45,000 leaves about £34,120 a year in the hand against £35,920 with no loan, a difference of £1,800. 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 £45,000 in Scotland
A Scottish undergraduate is on Plan 4, which starts at £33,795, so the loan on £45,000 is £1,008 a year. Scottish income tax also differs, so take-home after the loan is about £34,515. The Scottish income tax calculator shows the tax side.
Salaries near £45,000
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 £45,000 after tax for the full take-home breakdown.