Postgraduate Student Loans UK
Everything you need to know about Postgraduate Master's and Doctoral loans, including how repayments work and who is eligible.
Postgraduate Loans at a Glance
Master's Loan
- •Up to £12,167 (2023/24) total loan
- •Paid directly to you in three installments each year
- •Can be used for tuition fees and living costs
- •Repay 6% of income above £21,000 threshold
- •Written off 30 years after becoming eligible to repay
Doctoral Loan
- •Up to £27,892 (2023/24) total loan
- •Paid directly to you in installments across your course
- •Can be used for tuition fees and living costs
- •Repay 6% of income above £21,000 threshold
- •Written off 30 years after becoming eligible to repay
How Postgraduate Loans Work
Postgraduate loans were introduced in 2016 for Master's courses and 2018 for Doctoral courses to help more people access higher education beyond undergraduate level. Unlike undergraduate loans, postgraduate funding works as a contribution toward costs rather than covering specific fees.
Eligibility Requirements
To qualify for a UK postgraduate loan, you generally need to:
- Be under 60 years old when starting your course
- Be a UK or Irish national, or have settled/pre-settled status
- Normally live in England (different arrangements exist for Scotland, Wales, and Northern Ireland)
- Not already have an equivalent or higher-level qualification
- Be studying at an eligible university or college
- Be on a full Master's degree course (taught or research) or a Doctoral program
Repayment Terms
Postgraduate loans have some key differences from undergraduate loans:
- Repayment threshold: You repay 6% of your income above £21,000 per year (this threshold has been frozen since introduction)
- Interest rate: RPI + 3% during and after your studies (same as the maximum rate for Plan 2 undergraduate loans)
- Concurrent repayments: If you also have an undergraduate loan, you'll repay both simultaneously (which can mean 15% of income above thresholds for Plan 2 + Postgraduate loan holders)
Differences Between Master's and Doctoral Loans
While both loans have identical repayment terms, they differ in maximum amounts and payment structures:
- Master's loans: For courses lasting 1-2 years, with payments divided equally across each year
- Doctoral loans: For courses lasting 3-8 years, with payments divided across the course length, up to a maximum of 8 academic years
Regional Differences
Different UK nations have their own postgraduate funding schemes:
- Scotland: The Student Awards Agency Scotland (SAAS) offers tuition fee loans of up to £5,500 for Scottish/EU students, plus living cost loans for Scottish students
- Wales: Student Finance Wales offers a combined grant and loan of up to £18,025 for Welsh students, with a portion as non-repayable grant
- Northern Ireland: Tuition fee loans of up to £5,500 are available for Northern Irish students
Calculate Your Repayments
See how postgraduate loan repayments will affect your monthly income