Postgraduate Loan UK 2026
The government offers two postgraduate loans for students in England: the Postgraduate Masters Loan (up to £13,348) and the Postgraduate Doctoral Loan (up to £29,390). Unlike undergraduate loans, these are not split into tuition and maintenance — you receive the full amount to allocate as needed.
Repayment Rules
Postgraduate loans are repaid on a completely separate system to undergraduate loans and do not interact with Plan 2 or Plan 5 repayments.
| Feature | Detail |
|---|---|
| Repayment threshold | £21,000 per year |
| Repayment rate | 6% of income above threshold |
| Interest rate | RPI + 3% |
| Write-off period | 30 years |
If you also have an undergraduate loan, you repay both simultaneously — 9% for undergraduate, 6% for postgraduate — on the same income above each respective threshold.
Is It Worth Taking?
For most students yes. The loan covers meaningful study costs, repayments are income-contingent, and the 30-year write-off provides a safety net. However, the RPI plus 3% interest rate is higher than the Plan 5 undergraduate rate of RPI only.
Alternative Funding Sources
Research university scholarships, Research Council studentships (ESRC, AHRC, EPSRC for doctoral students) and employer sponsorship before taking the full postgraduate loan.
Loan amounts and thresholds are reviewed annually. Always check Student Finance England for the latest figures.