Postgraduate Loan Calculator
For Masters and PhD student loans
How much will I repay on a Postgraduate student loan?
Postgraduate loans for Masters or PhD courses work differently from undergraduate ones. You pay back 6% of earnings above £21,000 a year, which is a lower rate than the 9% on undergraduate plans. If you also have an undergraduate loan, both get deducted from your pay as separate amounts. Whatever is left after 30 years is written off.
🎓 Postgraduate loans work differently
- ✓ 6% repayment rate (not 9% like undergraduate loans)
- ✓ Lowest threshold (£21,000) — repayments start at lower income
- ✓ Repaid alongside any undergraduate loan (you may have two deductions)
Postgraduate Calculator
Masters and PhD loans with 6% repayment rate and lowest threshold
Enter your loan balance to see your forecast
Using Postgraduate defaults — Threshold: £21,000/yr, Interest: 6.2%, Repayment: 6%, Write-off: 30 years
How Postgraduate Loan Repayments Work
Threshold
£21,000/yr
Lowest of all plans
Repayment Rate
6%
Not 9% like UG loans
Interest
6.2%
RPI + 3%
- Who this applies to:Students who took out a Postgraduate Master's Loan or Doctoral Loan in England or Wales
- Key difference: You repay 6% of earnings above £21,000, not 9%
- Combined repayments:If you also have an undergraduate loan (Plan 1, 2, 4, or 5), you'll repay both simultaneously
- Write-off: Remaining balance written off after 30 years
- Example: If you earn £35,000/year, your PG loan repayment would be approximately £70/month
⚠️ If you have both undergraduate and postgraduate loans
You'll make two separate repayments each month, one for each loan type:
- Undergraduate (e.g., Plan 2): 9% of earnings above £29,385
- Postgraduate: 6% of earnings above £21,000
At £35,000 salary, this could mean ~£42 (UG) + ~£70 (PG) = ~£112/month total
Use the combined loan calculator →Postgraduate Loan: Common Questions
- How much do I repay on a Postgraduate loan?
- You repay 6% of gross income above £21,000 a year. On a £35,000 salary that comes to about £70 a month, which is lower than the 9% rate charged on undergraduate plans.
- Do I repay my Postgraduate loan and undergraduate loan at the same time?
- Yes. If you hold both an undergraduate loan and a Postgraduate loan, two separate deductions come out of your pay each month. On £35,000 that might be around £42 for Plan 2 plus £70 for the postgraduate loan, totalling roughly £112.
- When is a Postgraduate loan written off?
- Postgraduate loans are written off 30 years after you become eligible to repay. The amount cancelled is not taxable. Plenty of borrowers on average salaries will never repay the full balance.
- What is the Postgraduate loan interest rate?
- Interest on Postgraduate loans is currently set at RPI plus 3%, which works out to 6.2%. It starts building up from the day your first payment lands in your account, including while you are still studying.