Postgraduate Loan Calculator
Estimate your monthly and total repayments for UK postgraduate Master's and Doctoral loans.
About Postgraduate Loans
Postgraduate loans apply to Master's and Doctoral students in the UK. You repay 6% of income above £21,000 per year, alongside any undergraduate loan repayments.
Your Repayment Summary
Monthly Repayment
£45
6% of income above threshold
Annual Repayment
£540
Total to be Repaid
£16,200
Over the life of the loan
Total Interest Paid
£5,200
Expected Write-Off Date
April 2052
30 years after graduation
Current Interest Rate: RPI + 3% (7.6% total)
Combined Loan Repayments
With both undergraduate and postgraduate loans, your total monthly repayment would be approximately £65.
Undergraduate Loan (9%)
£20/month
Postgraduate Loan (6%)
£45/month
That's a total of 15% of your income above the respective thresholds. For more details, try ourCombined Repayment Calculator.
Related Calculators
How Does the Postgraduate Loan Calculator Work?
This calculator helps you understand your postgraduate loan repayments based on your salary and loan type. Postgraduate loans in the UK are available for both Master's and Doctoral degrees.
Key Facts About Postgraduate Loans
- Repayment Threshold: You only repay when you earn above £21,000 per year (£1,750 per month)
- Repayment Rate: 6% of income above the threshold
- Interest Rate: RPI + 3% (currently around 7.6% total)
- Forgiveness Period: Any remaining balance is written off 30 years after entering repayment
- Maximum Loan: £11,836 for Master's degrees and £27,892 for Doctoral degrees (2023/24 figures)
How Postgraduate Loan Repayments Work
If you earn £30,000 per year, you'll repay 6% of the amount over the threshold:
- Annual income: £30,000
- Repayment threshold: £21,000
- Income above threshold: £9,000
- Repayment rate: 6%
- Annual repayment: £540 (£45 per month)
Combined Repayments with Undergraduate Loans
If you have both undergraduate and postgraduate loans, you'll make repayments on both simultaneously:
- Undergraduate loan: 9% of income above £27,295 (Plan 2) or relevant threshold
- Postgraduate loan: 6% of income above £21,000
This means you could be repaying a total of 15% of portions of your income.
Example of Combined Repayments
For someone earning £35,000 with both Plan 2 and postgraduate loans:
- Plan 2 repayment: 9% of (£35,000 - £27,295) = £694.45 per year (£57.87 per month)
- Postgraduate repayment: 6% of (£35,000 - £21,000) = £840 per year (£70 per month)
- Total monthly repayment: £127.87
Frequently Asked Questions
While both loans are repaid at the same 6% rate above £21,000, the maximum amount you can borrow differs. For a Master's degree, you can borrow up to £11,836. For a Doctoral degree, the maximum is £27,892 (2023/24 figures). Both have the same interest rate (RPI + 3%) and forgiveness period (30 years).
Like undergraduate loans, postgraduate loan repayments are collected through the UK tax system. If you're employed, they're automatically deducted from your salary alongside Income Tax and National Insurance. If you're self-employed, you'll make repayments through your Self Assessment tax return.
Because postgraduate loans have a higher interest rate (RPI + 3%) than some undergraduate loans, voluntary overpayments might be more beneficial, especially if you expect to repay the loan in full before the 30-year write-off period. However, if you're unlikely to repay in full, making extra payments could mean paying more than necessary. Use our overpayment calculator to explore your options.
Have multiple student loans?
If you have both undergraduate and postgraduate loans, try our combined calculator to see your total repayments.
Try Our Combined Calculator