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Student Loan Calculator – When’s it paid off?

By Samuel Jefferies
Money Nest does not provide financial advice in any form. Contact a licensed professional before making any decision. Investments can go down in value as well as up. Post may contain affiliate links.

My annual student loan statement arrived this week, after the initial gasp of just how little I’ve paid off I decided to sit down and work out exactly when I’ll pay it off completely.

So I went ahead and created a Student Loan Calculator that does just that, what’s more I created it in Google Sheets so I can share it with you:

Find the download link below (once opened, you’ll need to make a copy)


Download – Student loan calculator


Note: This is only for students who were on ‘repayment plan 1’ the easiest way to find this out is whether you paid £9,000 per year or not, if like me you’re ‘lucky’
to have only paid £3,000 (per year) or less you were on repayment plan 1.

Student Loan Calculator – Assumptions and entertainment purposes only

The calculator also has quite a few assumptions ranging from annual salary increase to interest rates – you’ll see what I mean when you fire it up.

So please take the pay off date with a pinch of salt and avoid using it to make any financial planning decisions.

Should you bury your head in the sand?

If it all looks horribly bad just remember you can quite literally, drive to Bournemouth beach bury your head in the sand (for 25 years) and it’ll all be much better when you see sunlight again.

Disclaimer: Don’t do this, go for a swim instead, it’s much more pleasant. Oh and learn how to budget too!

So! How many years, till you’ve paid yours off?

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Reader Interactions


  1. 9 years til I’ve paid mine off – and if it all goes wrong only 18 years ’til the balance is written off!

  2. Hi Sam,

    I couldn’t download the spreadsheet. tried on Safaari and chrome. A few other links aren’t working for me either.

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