Plan 2 student loan repayments on £70,000 in Wales (2026-27)
On £70,000 you repay 9% of income above £29,385: £3,655 a year, about £305 a month. After Income Tax, NI and the loan you take home £47,502 a year.
| Gross salary | £70,000 |
| Repayment threshold | £29,385 |
| Repayment rate | 9% above the threshold |
| Loan repayment per year | £3,655 |
| Loan repayment per month (approx.) | £305 |
| Income Tax | £15,432 |
| Employee National Insurance | £3,411 |
| Take-home pay | £47,502 |
How this is worked out
You repay 9% of your income above the threshold for your plan. The amount you owe does not change what you repay each year. Employers apply the monthly or weekly threshold each payday, so the monthly figure here is the annual amount divided by 12.
Plan 2 covers Student Finance England undergraduate courses started between 1 September 2012 and 31 July 2023, and Student Finance Wales courses started on or after 1 September 2012.
Welsh Income Tax rates for 2026-27 are 20%, 40% and 45%, the same as in England. Assumptions: 2026-27 thresholds, tax code 1257L, no pension or other income.
Sources: Repaying your student loan: how much you repay (GOV.UK), Repaying your student loan: which plan you are on (GOV.UK), Income Tax in Wales (GOV.UK), Rates and thresholds for employers 2026 to 2027 (GOV.UK)