Doctoral loans | University of Oxford

Doctoral loans

The English and Welsh governments have introduced a new loans scheme for doctoral courses from 2018/19 entry. If you started your course in 2018/19 and you are from England, Wales or the European Union, find out if you are eligible and how you can take out a loan through the information on this page.

How much is the loan?

You can apply for a loan of up to £25,000 towards your course and living costs. The loan will be divided equally across each year of your course in line with the number of years tuition fees are payable.

The loan is paid into your bank account in three instalments during the academic year.

Who can take out the loan?

The information in this section is presented as a guide only. You should refer to the UK government website for further details.

To take out the doctoral loan, you must be:

  • Aged under 60 on the first day of the first academic year of your course (on 1 September 2018 for courses starting in October 2018)
  • Starting an eligible doctoral course in the 2018/19 academic year or later (on or after 1 August 2018)
  • A UK or EU national ordinarily resident in England on the first day of the academic year of your course start date, and have been ordinarily resident in the UK, Channel Islands or Isle of Man for the three year period before the first day of your course; if you are an EU national but have not been resident in the UK then you may still be eligible if you have been resident in the European Economic Area or Switzerland for the three year period before the first day of your course.

You will not be eligible for the doctoral loan if:

  • You already have a doctorate or higher level qualification
  • You have received or will receive Research Council funding
  • You are eligible to apply for the NHS bursary
  • You are already receiving funding from Student Finance for the same academic year
  • You have outstanding student loan arrears or have previously been found to be ‘unfit’ for student support (e.g. because of attempted fraud)
  • You have received a Postgraduate Doctoral Loan before - unless you left your course due to illness, bereavement or another serious personal reason.

Information for EU applicants on the implications of the UK plans to leave European Union membership is available on the Oxford Students website.

Which courses are covered?

The information in this section is presented as a guide only. You should refer to the UK government website for further details.

Taught and research standalone doctoral courses in any subject are covered by the loan. Courses must start on or after 1 August 2018, and be 3 to 8 years in duration. Courses can be studied on a full-time or part-time basis.

Doctoral courses that include an integrated master’s degree are eligible for the Postgraduate Doctoral Loan, but you must be admitted to and enrol on the doctoral course. You would not be able to make a separate application for the Postgraduate Master’s Loan.

How to apply

Applications for funding opened in the June preceding the start of your course. You are encouraged to apply as early as possible to ensure that funding is in place for the start of your course.

Will I be charged interest on my loan?

The information below on repayments and interest rates is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.

Interest is charged at the Retail Price Index (RPI) plus 3% from the day your first payment is made until your loan is repaid in full.

How do I repay my loan?

You have to repay any loan you borrow, but not until your income is over £21,000 a year. Repayments will be based on your income, not what you borrow.

You will start making repayments the April after you finish or leave your course, or the April four years after the start of your course.

You will only start making repayments once your income is over the current threshold of £404 a week, £1,750 a month or £21,000 a year. You will repay 6% of what you earn over the threshold. So if you are paid monthly and earn £2,500 before tax you’ll repay 6% of the difference between what you earn and the threshold (£1,750):

£2,500 - £1,750 = £750

6% of £750 = £45

So your Postgraduate Loan repayment would be £45 that month.

You can find further information on repayments at the Student Loans Company Repayments website.

What if I already have a student loan?

If you already have a Postgraduate Master’s Loan then you’ll make a combined repayment of 6% over the income threshold of £21,000 covering both postgraduate loans.

If you have had any other loan from the Student Loans Company then you will continue to make separate repayments alongside those for your postgraduate loan.