Student Loans Repayment Calculator 2013/14

If you’re planning on attending university it’s always good to get the financial worries out of the way early on. You need to sit down and work out how you’re going to fund your studies: and for most people this will entail getting their hands on finance from the Student Loans Company.

Anyone who’s wondering how much student finance they’re entitled to should definitely use the following student finance calculator on this page.

How to Use this Calculator:

All you need to do is input a few basic details about yourself into the calculator and you should instantly know exactly how much you’ll have to pay back and how long it will take you.  You can also click on the information button to check the government’s maximum maintenance loans allowance.

Student Loan Repayment Calculator 2013

£ Help
Maintenance loans

The maximum maintenance loans and their non-means-tested portions are as follows:-

Living with parents: £4,375 (£2,844)
Living independently in London: £7,675 (£4,989)
Living independently elsewhere: £5,500 (£3,575)

Your chosen career
Expected starting salary £ 25,000
Loan at start £ 0.00
Total repayments £ 0.00
Repayment term 0 Months


Loan and Earnings


Interest and Repayments


Thanks to for this tool.


Attending university isn’t cheap

Going to university is not cheap at all – in fact far from it. This year’s intake of students will be the first wave who are paying the new fees which can run up to £9,000 per year at some universities. Now more than every it’s important that students take the decision to go to university seriously. If you’re planning on having a three year long party then perhaps you should think again – because you could be paying back the money you owe as a result of your university adventure for a very long time.

Some students will need to borrow more money than others, mainly because some students are entitled to grants and bursaries, whereas others aren’t. The good thing about grants and loans is that if you’re entitled to the full maintenance grant, the amount you can borrow in the form of a loan is reduced as a result. Likewise, if you’re not entitled to any maintenance grant, you’ll be entitled to the full maintenance loan.

Think about repayments

Lots of students like to bury their hand in the sand and they don’t give repayments a second thought. The boundaries have changed when it comes to student loan repayments so it’s very important that you listen up. The threshold for making repayments has been increased to £21,000 per year. If you earn below this figure you won’t need to pay back any of your student debt. Don’t forget it will still be attracting interest though – so if and when you do earn over £21,000 you could be faced with a huge amount of debt to repay.

When it comes to debt being wiped, the rules are staying as they were before. If you don’t repay the entire debt by the time 30 years have elapsed, it will be written off. This means if you’re not likely to earn over £21,000 in the 30 years after graduating, you won’t have to repay any of the money that you borrow. Those who do earn over this figure will have to make repayments at a rate of 9%. If you lose your job or take a pay cut below the threshold, you immediately stop making repayments.

Borrowing from the Student Loans Company

The Student Loans Company is there to help you fund your time at university. The cost of their loans is pretty low compared to corporate lenders like banks. If at all possible you should avoid taking on student debt, but if it’s unavoidable it’s nothing to be ashamed of, because most other students are in the same boat!

Check out the student finance calculator today to see how much financial support you could be entitled to if you attend university.