Plan 2 Student Loan on £30k: Monthly Take-Home Cost
See how Plan 2 repayments change take-home pay on £30,000, with the calculated annual repayment, monthly effect and payslip checks.
Direct answer: Plan 2 repayments are about £55 a year on this salary, reducing monthly take-home by about £5.
Assumptions: England, Wales or Northern Ireland; standard 1257L tax code; 2026/27 rates; 52 paid weeks; no benefits or deductions except those shown.
The calculated comparison
| Scenario | Gross salary | Income Tax | National Insurance | Other deduction | Take-home a month |
|---|---|---|---|---|---|
| No pension or student loan | £30,000 | £3,486 | £1,394 | None | £2,093 |
| Plan 2 student loan | £30,000 | £3,486 | £1,394 | Student loan £55 | £2,089 |
A student loan is collected separately from Income Tax
Plan 2 repayments are based on earnings above the plan threshold, not on the outstanding balance shown in the table. Payroll calculates the repayment alongside PAYE, then deducts it from take-home pay. Income Tax and National Insurance are unaffected by how much of the loan remains.
The comparison uses the same gross salary on both rows so the change in monthly take-home is isolated to the loan repayment. It does not include voluntary repayments, interest or another concurrent loan plan.
Check that payroll is using the correct plan
Employers rely on starter information and notices from HMRC. A wrong plan can cause deductions to start at the wrong earnings threshold. Check the plan shown in your student-loan account and tell payroll promptly if the payslip does not match.
- Check the loan-plan type on your starter declaration or payroll record.
- Compare the year-to-date repayment with your payslips.
- Tell the Student Loans Company when your contact or employment details change.
- Keep an eye on deductions when you receive a bonus or change jobs.
- Do not make an irreversible voluntary repayment without considering the loan terms and likely future earnings.
What can change your actual payslip
A pension contribution can reduce the earnings used for some payroll calculations, depending on the scheme. A postgraduate loan may be deducted at the same time as an undergraduate plan. Scottish Income Tax changes the tax line but not the Plan 2 repayment formula.
What to inspect on the payslip
Read gross pay, taxable pay, Income Tax, National Insurance and student-loan repayment as separate entries. A bonus month can produce a larger deduction because payroll uses that pay period's earnings. The annual calculator is best for budgeting across the year rather than predicting every individual payslip.
Run the numbers for your own situation
Official references: Figures use the 2026/27 Income Tax rates, employee National Insurance rates and student-loan repayment guidance. Figures are estimates; payslip timing and individual circumstances can change the result.