Skip to main content

Postgraduate Doctoral Loan

Repayment

A Postgraduate Doctoral Loan has to be repaid. Interest will be charged from the day the first payment is made to the student. Interest will be charged at the Retail Price Index (RPI) plus 3%. RPI is a measure of UK inflation. It measures changes to the cost of living in the UK.

 

They’ll be due to start making repayments the April after they finish or leave their course, or the April four years after the beginning of their course, whichever is sooner. But, if they’re overpaid they may be asked to make repayments earlier.

 

They’ll only start repaying when their income is over £21,000 per year, £1,750 a month, or £404 a week.

 

Students will repay 6% of what they earn over the threshold. So if they’re paid monthly and earn £2,500 per month before tax, they’ll repay 6% of the difference between what they earn and the threshold.

For example:

£2,500 - £1,750 = £750

6% of £750 = £45

 

The following table shows how much they’ll repay towards their loan:

 

Yearly income before tax

Monthly income before tax

Monthly repayment

£21,000

£1,750

£0

£22,000

£1,833

£4

£23,500

£1,958

£12

£25,000

£2,083

£19

£30,000

£2,500

£45

A student loan repayment will be taken even if they don’t earn £21,000 in a year but earn over the weekly or monthly threshold at any time.

 

Previous loans

If students have had a previous loan from SLC, they’ll continue to repay these loans at the same time. How much they’ll repay depends on when they started their undergraduate course.

 

Courses that started after 1 September 2012

If a student borrowed a loan for an undergraduate course that started after 1 September 2012, they’ll repay 9% of their income above £25,000 a year towards that loan and 6% of their income above £21,000 a year towards their Postgraduate Loan. 

If they borrowed a Postgraduate Loan for a Master’s course as well as a Doctoral course, the repayment amount due will remain at 6%. This will go towards any loans borrowed for both Master’s and Doctoral courses.

The table below shows how much they’ll repay towards their loans.

 

Yearly income before tax

 Monthly income before tax

Plan 2 Undergraduate Loan repayment

Postgraduate Loan repayment

£21,000

£1,750

£0

£0

£23,000

£1,916

£0

£9

£25,000

£2,083

£0

£19

£27,000

£2,250

£14

£30

£30,000

£2,500

£37

£45

 


Courses that started before September 2012

If a student borrowed a loan for their undergraduate course that started before 1 September 2012, they’ll repay 9% of their income above £18,330 towards that loan and 6% of their income above £21,000 towards their Postgraduate Loan.

The table below shows how much they’ll repay towards their loans.

 

Yearly income before tax 

Monthly income before tax 

Plan 1 Undergraduate Loan repayment

Postgraduate Loan repayment

£18,330

£1,527

£0

£0

£21,000

£1,750

£24

£0

£23,000

£1,916

£42

£9

£25,000

£2,083

£50

£19

£30,000

£2,500

£87

£45

 

 

empty