This is one of the most asked personal finance questions in the UK — and the answer isn't the same for everyone.
The Short Answer
Plan 2 (post-2012 England/Wales): Almost certainly don't overpay. Only ~25% of borrowers will repay in full before the 30-year write-off.
Plan 1 (pre-2012): Maybe. The balance is usually smaller and interest is lower.
Plan 5 (post-2023): Almost certainly don't overpay. 40-year write-off makes full repayment even less likely.
Postgraduate loan: Probably don't overpay unless your balance is very small.
The Logic
Student loan repayments in the UK work like a graduate tax — you pay 9% of everything above the threshold regardless of your balance. If the loan gets written off before you repay it all, every pound you overpaid was wasted money.
Example: Plan 2, £45,000 borrowed
On a £35,000 starting salary growing 3%/year, you'd repay approximately £38,000 over 30 years before the remaining balance is written off. The interest means your balance keeps growing — but it doesn't matter because it gets written off anyway. Overpaying would mean paying more than the £38,000 you'd have paid automatically.
When Overpaying DOES Make Sense
You should consider overpaying if your remaining balance is small (under £5,000), you're close to the write-off date with a small balance left, you're on Plan 1 with a realistic path to full repayment, or the psychological benefit of being debt-free outweighs the financial logic.
What to Do Instead
Rather than overpaying your student loan, put extra money into a Stocks & Shares ISA or your pension. The returns will almost certainly exceed the effective cost of your student loan, and the money stays accessible (in an ISA) or gets tax relief (in a pension).
Calculate your student loan repayments
Student loan calculator →