Skip to main content

beta This is a new service – your feedback will help us to improve it.

Student Loan Repayments

Answer
DrDub
Posted Tue, 01 Oct 2024 09:22:55 GMT by DrDub
I'm on a type 1 loan and have just started earning over the repayment threshold. I understand the current interest rate is 4.3%, where can I find an online repayment calculator specific to type 1 loans so I can decide whether to overpay? Thanks.
Answer
HMRC Admin 19 Response
Posted Wed, 09 Oct 2024 09:14:08 GMT by HMRC Admin 19 Response
Hi,
If you are on plan 1, the interest rate is 4.3%. Please have a look at the guidance here:
How interest is calculated - Plan 1
Repaying your student loan
Student finance calculator
Thank you.

You must be signed in to post in this forum.