Student Loan Plan 5 Calculator

lmcfaull

Can anyone advise me where I can get a calculator please to understand how much likely to repay back on a student loan for a student starting in September 2023.  I know it will be plan 5 and repaid when earning over 25k and is now over 40 years but cannot find this scenario anywhere online.  All seem to be over 30 years above 27k which is for previous schemes.  Trying to see an illustration of full cost implication of borrowing 42K ? 

MSE_ForumTeam5

@lmcfaull We've moved this thread across to the Student MoneySaving board.

kaMelo

lmcfaull said:

Can anyone advise me where I can get a calculator please to understand how much likely to repay back on a student loan for a student starting in September 2023.  I know it will be plan 5 and repaid when earning over 25k and is now over 40 years but cannot find this scenario anywhere online.  All seem to be over 30 years above 27k which is for previous schemes.  Trying to see an illustration of full cost implication of borrowing 42K ? 

It's almost impossible to work it out. Even if you have a plan on working in a certain job/sector with known typical salaries and progression opportunities, forty years is a long time and many things can and will change.