Plan 2 Student Loan Refinancing

Your student loan is a drip that never stops. Cut the flow.

At 6.2%, interest pours onto your Plan 2 loan every month faster than your repayments can drain it. Your balance barely falls. Waterfall Finance redirects that flow — a lower fixed rate so your debt actually runs dry.

6.2%
Current Plan 2 rate
~£17k
Avg interest saving
30 yrs
Default SLC term
See your numbers
£
£
Your Plan 2 rate: —  ·  RPI 3.2% + income-linked margin
Your SLC loan today
Rate: 6.2% (income-linked)
£—/mo
Interest — Principal —
—
Waterfall Finance
Rate: — fixed
£—/mo
Interest — Principal —
—
💰 Total interest saving
£—

About these rates: Plan 2 interest rate calculated per GOV.UK methodology (RPI 3.2%, scaled linearly from 3.2% at £29,385 to 6.2% at £52,885+, capped at 6.0% from September 2026). Waterfall Finance rates shown are indicative target rates for a purpose-built graduate refinancing product — they are not currently available in the market. Standard personal loans max out at £25,000 over 7 years; a £50k+ loan over 10–25 years sits in specialist lending territory. These figures illustrate the potential saving if such a product existed at these rates. Not financial advice.

The problem — explained

Why high earners are drowning in student debt interest

Plan 2 loans charge interest based on your income. Earn over £52,885 and you pay the maximum rate — currently 6.2%. Most of your monthly repayment is interest, not debt reduction.

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The interest trap
On a £53,000 loan at 6.2%, roughly £274 of interest floods in every month. If your SLC repayment is £290, only £16 drains your balance. At that rate, you'll be paying for 30 years.
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A fixed alternative
Waterfall Finance replaces your SLC loan with a fixed-rate loan at a lower rate. Every payment is split clearly between interest and principal. Your balance actually falls — fast.
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Built for you
If you earn £65k+, you'll almost certainly repay your loan in full — so the 30-year write-off gives you almost no benefit. You deserve a lower rate. That's what we're building.

Join the waitlist

We're building Waterfall Finance for Plan 2 borrowers who are ready for a better deal. Leave your details and we'll be in touch when we launch.

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