Student Life Centre

Repaying your Postgraduate Loan

The repayment criteria for Postgraduate Loans are similar to those for Undergraduate Loans.

If you already have a Student Loan then these repayments will be taken in conjunction with the repayment of your Postgraduate Loan.

Please watch the video below for more information.


Postgraduate Loans are repaid under income contingent repayment terms, as are Undergraduate loans. The earliest you’ll start repaying your Postgraduate Loan through HMRC is April 2019, but voluntary repayments can be made at any time without penalty. Following this, the repayment due date for PGL balances will be 6th April following the academic year in which you complete your course (or following withdrawal, where this applies).

You’ll only start repaying when your income is over £21,000 per year and you’ll pay back 6% of your income over this threshold. However, any Undergraduate student loan repayment that you may be committed to will also be deducted through PAYE at the same time. Therefore if your income is above £21,000 and you are in repayment for both these loans, you’ll pay back 15% of your income over this threshold. (9% undergraduate and 6% postgraduate).

Please see our information on reporting a Change of Circumstances, otherwise you might have to repay some of the loan straight away.

Those who are repaying from overseas will have a threshold applied which is based on the cost of living in their country of residence. Repayments from overseas will need to be made by you, directly to SLC. The thresholds will be frozen until April 2021; any future changes will be announced by Student Finance in due course.

Write off of any outstanding balance will take place on the 30th anniversary of the date that the loans become due for repayment, on death or if you become permanently unfit for work, unless you have outstanding student loan arrears.


You’ll be charged interest from the day you get the first payment until your loan is repaid in full or cancelled. The interest rate on the loan is currently 4.6%. The rate is set by adding 3% to the Retail Price Index (RPI). The RPI is reviewed in September every year - if it changes, the interest rate on the loan will change too.