Postgraduate Loan Repayment Calculator

How the Postgraduate Loan Works

The Postgraduate Master's Loan and Postgraduate Doctoral Loan are government-backed loans available to eligible students in England and Wales undertaking postgraduate study. They are administered by the Student Loans Company and repaid through the same PAYE or Self Assessment systems as undergraduate loans.

The postgraduate loan operates completely separately from any undergraduate student loan. If you have both, you make two separate repayments each month — 9% above your undergraduate threshold (Plan 1, 2, or 5) plus 6% above £21,000 for the postgraduate loan. This means at higher salaries you can be making both repayments simultaneously.

Any outstanding postgraduate loan balance is written off after 30 years from the April after you leave your course. This runs entirely independently of the write-off clock on any undergraduate loan you hold.

Postgraduate Loan Amounts Available (2026/27)

Maximum amounts for 2026/27. Amounts are reviewed annually. Eligibility criteria apply — check student-finance-england.co.uk for full details.

Having Both an Undergraduate and Postgraduate Loan

This is extremely common. Most postgraduate borrowers also hold a Plan 2 (or Plan 5) undergraduate loan from their first degree. In this situation, you make two separate repayments once your income exceeds each threshold.

For example, a Plan 2 borrower also holding a postgraduate loan earning £40,000 would pay:

Use this calculator to project your postgraduate loan in isolation. For a combined picture, you should add the monthly repayment amounts from both calculators together.

Will You Repay Your Postgraduate Loan in Full?

The postgraduate loan has a lower repayment rate (6% vs 9%) but also a lower threshold (£21,000 vs £29,385 for Plan 2). The lower balance typical of postgraduate loans (maximum £12,167 for a master's, versus £50,000+ for undergraduate) means many postgraduate borrowers do repay in full, particularly those pursuing higher-earning careers.

Doctoral loan borrowers with the full £28,673 may be less likely to fully repay, particularly early-career researchers who spend years in relatively low-paid postdoctoral positions before salaries increase.

The same interest rate applies as Plan 2 (estimated at 7.3% in our calculator), so balances can grow quickly. Enter your specific balance and salary in the calculator above to see your projected outcome.