WagePostgraduate Loan Repayment 2026-27
A Postgraduate Loan for a master's or doctoral course is repaid separately from any undergraduate loan and stacks on top of it. You repay 6% of everything you earn above the £21,000 threshold, collected automatically through PAYE. Unlike the undergraduate plans, a Postgraduate Loan does not replace your existing plan - if you have both, both deductions are taken together, and the table on this page shows the postgraduate repayment at different salaries.
| Plan | Who | Rate | 2026-27 | 2025-26 |
|---|---|---|---|---|
| Plan 1 | Pre-2012 England/Wales; Northern Ireland | 9% | £26,900 | £26,065 |
| Plan 2 | 2012-2023 England/Wales | 9% | £29,385 | £28,470 |
| Plan 4 | Scotland (SAAS) | 9% | £33,795 | £32,745 |
| Plan 5 | England, courses from Aug 2023 | 9% | £25,000 | £25,000 |
| Postgraduate | Master's / doctoral | 6% | £21,000 | £21,000 |
Student loan repayment calculator
You repay a percentage of income over the plan threshold, collected through PAYE. The balance owed never changes the deduction. A postgraduate loan is charged additionally on top of any undergraduate plan. Estimates, not advice.
Who is on a Postgraduate Loan
The Postgraduate Loan covers funding for master's and doctoral study. It is the plan that applies to that loan specifically, regardless of which undergraduate plan you may also be repaying.
This is what makes it different from the undergraduate plans, where only one applies at a time. A Postgraduate Loan is designed to run in addition to an undergraduate plan, so many graduates repay two loans at once.
How much you repay
The Postgraduate Loan threshold is £21,000, and the rate is 6% - lower than the 9% used for undergraduate plans, but applied from a lower starting point. You repay 6% of income above £21,000 and nothing below it.
If you also have an undergraduate loan, the two deductions are worked out independently and then combined: 9% above your undergraduate threshold plus 6% above £21,000. The table on this page shows the postgraduate portion across a range of salaries.
Frequently asked questions
Do I repay a Postgraduate Loan instead of my undergraduate one?
No - it is repaid in addition. If you have both, you pay 9% above your undergraduate threshold and a further 6% above £21,000 at the same time.
Why is the postgraduate rate lower than the undergraduate rate?
The Postgraduate Loan is charged at 6% rather than 9%, but from the lower £21,000 threshold, so repayments begin at a lower income.
General information, not advice. Estimates assume the standard 1257L tax code and typical circumstances; your payslip may differ by a pound or two because HMRC payroll software truncates at each step. Verify with HMRC or an accountant for any decision. WageReckon stores no salary data - the calculators run in your browser.
Rates for the 2026-27 tax year, current as of 24 July 2026. Source: HMRC (gov.uk). Contains public sector information licensed under the Open Government Licence v3.0. Source: HMRC / gov.uk. See how we calculate.