Student loan repayment on £42,000
On a £42,000 salary you repay £94.61 a month on a Plan 2 student loan, or £1,135 a year.
Repayments on £42,000 by plan
| Plan | Threshold | Per year | Per month | Per week |
|---|---|---|---|---|
| Plan 1 | £26,900 | £1,359 | £113.25 | £26.13 |
| Plan 2 | £29,385 | £1,135 | £94.61 | £21.83 |
| Plan 4 (Scotland) | £33,795 | £738 | £61.54 | £14.20 |
| Plan 5 | £25,000 | £1,530 | £127.50 | £29.42 |
| Postgraduate Loan | £21,000 | £1,260 | £105.00 | £24.23 |
What it means at £42,000
- You repay 9% of pay above the threshold for your plan. On Plan 2 that is 9% of £12,615.
- With a Plan 2 loan and a Postgraduate Loan you would repay £199.61 a month in total.
- After income tax and National Insurance, take-home pay on £42,000 is £33,760 a year. Take off a Plan 2 repayment and it is £32,624, or £2,718.69 a month. See £42,000 after tax for the full breakdown.
- Repayments are worked out on each payslip, so a month with overtime or a bonus can mean a bigger deduction. Any balance left is usually written off after 25 to 40 years, depending on the plan.
Check your own figures
The calculator is set to £42,000. Pick your plan and tick Postgraduate Loan if you have one.
| Loan | Threshold | Rate | Per year | Per month |
|---|
Salaries near £42,000
| Salary | Plan 2 a month | Plan 5 a month |
|---|---|---|
| £39,000 | £72.11 | £105.00 |
| £40,000 | £79.61 | £112.50 |
| £41,000 | £87.11 | £120.00 |
| £42,000 | £94.61 | £127.50 |
| £43,000 | £102.11 | £135.00 |
| £44,000 | £109.61 | £142.50 |
| £45,000 | £117.11 | £150.00 |
Student loan repayments on all salaries
Assumptions
Annual salary paid evenly through PAYE, using 2026/27 thresholds. Plan 1 covers England or Wales before September 2012 and Northern Ireland, Plan 2 England or Wales from 2012 to July 2023, Plan 4 Scotland and Plan 5 England from August 2023. Self-employed repayments are collected through Self Assessment instead.
Frequently asked questions
How much student loan do I repay on £42,000?
On Plan 2 it is £94.61 a month (£1,135 a year) in 2026/27. On Plan 5 it is £127.50 a month, and on Plan 1 £113.25 a month.
How much is a Postgraduate Loan repayment on £42,000?
£105.00 a month (£1,260 a year), at 6% of income above £21,000. It is taken on top of any Plan 1, 2, 4 or 5 repayment.
Do Scottish graduates on £42,000 repay student loan?
Yes. Plan 4 repayments are £61.54 a month on £42,000, at 9% of income above £33,795.