But there are signs that things are not as rosy in U.K. doctoral education as some imagine. In November, the Student Loans Company noted the “first potential yet small decline in the take-up of postgraduate doctoral student loans,” with sums borrowed in 2022–23 down by 12.3 percent. There are also indications that the number of funded Ph.D. studentships will not be as plentiful over the next few years.