Your loan
What happens to your loan
| Year | Salary | You repay | Interest added | Balance at year end |
|---|
A projection, not a forecast. It assumes the interest rate stays as it is today, your pay and the repayment thresholds rise by the same percentages every year, and repayments are 9% of pay above the threshold (6% for postgraduate loans). In reality interest rates change every September and thresholds are set by the government each year. Plan 2 interest depends on your income each year; the calculator uses the current sliding scale.