UK student loans aren't like normal debt. You repay a fixed slice of income above a threshold, and anything left is written off after 25–40 years — so unless you'd clear the balance before then, voluntary overpayments are simply money you'd never have had to pay. This projects your loan and shows whether overpaying actually helps.
Often no. UK student loans are repaid at 9% of income above a threshold and are written off after a set period, so many people never repay the full balance, which means voluntary overpayments can simply be lost. The calculator shows whether you are likely to clear it anyway.
It depends on the plan: Plan 2 is written off 30 years after you became liable to repay, Plan 5 after 40 years, and postgraduate loans after 30 years. If you will not clear the balance before then, overpaying rarely helps.
On Plans 1, 2, 4 and 5 you repay 9% of everything you earn above the threshold for your plan; postgraduate loans are 6%. The amount is based on your income, not on the size of the balance.
These results are estimates for general information only and are not financial advice. Check every figure yourself and seek appropriate advice from a qualified professional before making any decision. Read the full disclaimer.