Student loans in the UK are written off after a set period, regardless of how much you still owe. The write-off period depends on your plan.
Plan 1 (started before September 2012): Written off 25 years after the April you were first eligible to repay, or when you turn 65 — whichever comes first.
Plan 2 (started September 2012 to July 2023): Written off 30 years after the April you were first eligible to repay. For most graduates, this means around age 51-52.
Plan 4 (Scotland): Written off 30 years after the April you were first eligible to repay, or when you turn 65.
Plan 5 (started from August 2023): Written off 40 years after the April you were first eligible to repay. This is significantly longer than Plan 2.
Postgraduate loans: Written off 30 years after the April you were first eligible to repay.
The big question: should you try to repay early? For most graduates on Plan 2, the answer is no. The average Plan 2 graduate owes around £45,000. With interest rates often exceeding repayment amounts in the early years, the balance frequently grows. Most Plan 2 borrowers will never repay in full before the 30-year write-off.
Early voluntary repayment only makes financial sense if you are a high earner who is likely to repay the full balance within the 30-year period anyway. In that case, overpaying saves you interest.
A simple rule of thumb: if you earn less than approximately £50,000 and owe more than £30,000 on Plan 2, you will almost certainly benefit from letting the loan be written off rather than making extra payments.
Use our student loan calculator to see your monthly repayments and whether you will repay before write-off.