What does the Postgraduate Loan Repayment Calculator do?

Calculate postgraduate loan repayments at 6% above £21,000. See if your balance is growing or shrinking. All calculations are performed in your browser using official UK rates and thresholds.

Does this use current UK interest rates?

You can enter any interest rate to model different scenarios. The Bank of England base rate and FCA guidelines influence typical lending rates available in the UK market.

Should I get professional debt advice?

If you are struggling with debt, free professional advice is available from StepChange (0800 138 1111), Citizens Advice, and the National Debtline (0808 808 4000). This calculator provides estimates only.

Postgraduate Loan Repayment Calculator

Calculate postgraduate loan repayments at 6% above £21,000. See if your balance is growing or shrinking.

Last updated: April 2026 · Source: GOV.UK — Postgraduate Master's Loan

Postgraduate Loan Balance

Annual Salary

Monthly Repayment

£45.00

6% of income above £21,000

Annual Repayment

£540.00

Annual Interest

£876.00

Net Balance Change

+£336.00/yr

Written off in

30 years

Your balance is growing — interest (£876.00/yr) exceeds repayments (£540.00/yr)

Postgraduate loan: 6% above £21,000, interest at RPI + 3% (7.3%). Written off 30 years after the April you were first due to repay. Repaid alongside Plan 1/2/4/5 (not instead of).

Disclaimer

This calculator is provided for informational purposes only and should not be considered as financial or tax advice. All calculations are performed locally in your browser — no personal data is collected or sent to our servers. Rates and thresholds are sourced from HMRC and GOV.UK and are updated for the current tax year. Always verify results with HMRC or consult a qualified professional before making financial decisions.

How It Works

Postgraduate Master's loans of up to £12,471 (2025/26) are available for taught and research master's courses. Repayment is at 6% of income above £21,000. This is collected alongside any existing undergraduate loan repayment — the two are separate deductions, so you can end up paying 9% + 6% = 15% of income above the respective thresholds.

Interest is charged at RPI (currently around 3–4%). The loan is written off 30 years after the April following course completion. Unlike undergraduate loans, the postgraduate loan has no means-testing on household income — the full amount is available to all eligible students.

Enter your salary to see monthly repayments. If you also have an undergraduate Plan 2 loan, the calculator shows both deductions and the combined impact on your take-home pay.

Example: £35,000 salary, Postgraduate Loan only

Income above threshold: £35,000 − £21,000 = £14,000
Annual repayment: £14,000 × 6% = £840
Monthly deduction: £70.00
If also on Plan 2: additional £57.79/month (total £127.79)

Source: GOV.UK — Postgraduate Master's Loan

Frequently Asked Questions

What does the Postgraduate Loan Repayment Calculator do?: Calculate postgraduate loan repayments at 6% above £21,000. See if your balance is growing or shrinking. All calculations are performed in your browser using official UK rates and thresholds.
Does this use current UK interest rates?: You can enter any interest rate to model different scenarios. The Bank of England base rate and FCA guidelines influence typical lending rates available in the UK market.
Should I get professional debt advice?: If you are struggling with debt, free professional advice is available from StepChange (0800 138 1111), Citizens Advice, and the National Debtline (0808 808 4000). This calculator provides estimates only.