How much will I repay on a postgraduate loan?

You repay 6% of your income above £21,000 per year (£1,750 per month). Your monthly repayment amount changes with your income, and your loan is written off after 30 years regardless of how much you've repaid.

What is the interest rate on postgraduate loans?

Postgraduate loans accrue interest at RPI + 3%. This is currently around 7.6% and is applied from the day you receive your first payment until the loan is repaid in full or written off.

Do I make separate repayments if I have an undergraduate and a postgraduate loan?

No, repayments are taken together through the tax system. If you have both types of loans, you'll repay 9% of income above the undergraduate threshold plus 6% of income above the postgraduate threshold simultaneously.

Postgraduate Loan Calculator UK - Master's & PhD Repayments

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

£45.00

6% of income above threshold

Annual Repayment

£540.00

Total to be Repaid

£11,000

Over the life of the loan (simple projection)

Total Interest Paid

£5,200

Expected Write-Off Date

April 2055

30 years after entering repayment

Current Interest Rate: RPI + 3% (currently ~7.6% total)

Combined Loan Repayments

With both undergraduate and postgraduate loans, your total monthly repayment would be approximately £45.00.

Undergraduate Loan (9%)

£20.29/month

Postgraduate Loan (6%)

£45.00/month

That's a total of 15% of your income across the relevant portions above each threshold. For more details, try our Combined Repayment Calculator.

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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.

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

Postgraduate Loan Calculator