Postgraduate Loan Total Cost Calculator
Calculate total postgraduate loan repayment over 30 years with salary growth projections.
Last updated: April 2026 · Source: GOV.UK — Postgraduate Master's Loan
Total You'll Actually Repay
£38,476.89
Repaid in 29 years
Original
£12,000.00
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
This calculator projects the total lifetime cost of your postgraduate loan, including interest, over the 30-year repayment period. It models your salary trajectory and calculates annual repayments at 6% of income above £21,000, while interest accrues at RPI on the remaining balance.
Because the repayment threshold is lower than for undergraduate loans (£21,000 versus £27,295 for Plan 2), postgraduate loan repayments begin at a lower salary. However, the 6% rate means each monthly payment is smaller. Whether you repay in full or have the balance written off depends on your career earnings.
Enter your loan amount, starting salary and expected pay growth. The calculator shows year-by-year repayments, the interest that accrues and the projected balance at write-off. It also shows the total amount repaid compared to the original loan, so you can see the true cost of borrowing.
Example: £12,000 loan, starting salary £30,000, 3.5% pay growth
- Year 1 repayment: (£30,000 − £21,000) × 6% = £540
- Year 1 interest (RPI 3.5%): £12,000 × 3.5% = £420
- Year 10 (salary ~£42,300): repaying ~£1,278/year
- Projected total repaid: ~£18,500 over 30 years
Frequently Asked Questions
- What does the Postgraduate Loan Total Cost Calculator do?
- Calculate total postgraduate loan repayment over 30 years with salary growth projections. All calculations are performed in your browser using official UK rates and thresholds.
- Is this based on current student finance rates?
- Yes. This calculator uses Student Loans Company rates and thresholds for the 2025/26 academic and financial year. Thresholds and interest rates are updated annually.
- Which student loan plan am I on?
- Plan 1 applies if you started before September 2012 (England/Wales) or are from Northern Ireland. Plan 2 applies from September 2012 in England/Wales. Plan 4 is for Scotland. Plan 5 applies from September 2023.