Postgraduate Masters Loans
Government postgraduate loan scheme
Government loans are available for English and EU postgraduate students commencing studies from 2016.
For courses starting after 1 August 2017, you can borrow up to £10,280 in total, not per year, to contribute to your tuition fee and living costs. The loan will not be based on a means test and payment will be made directly to you.
For courses starting before 1 August 2017, you can borrow up to £10,000 in total.
- Loans will be available for both taught and research Masters courses starting in academic year 2017/18. This includes MSc, MBA and MRes courses but not research degrees such as PhD degrees.
Are you eligible?
- These loans will only be available to English and EU students.
- You must be aged under 60.
- If you already hold a Master’s qualification, an equivalent level qualification or a higher level qualification will not be eligible for the loan.
- The system will be managed by Student Finance England and will operate in a similar way to undergraduate loans, with repayment through automatic salary deduction when you earn above a set level.
- The repayment rate will be 6% of gross earnings above £21,000.
- The loan interest will be calculated at RPI+3% and interest will accrue from the date the first loan instalment is paid by the SLC to the borrower.
- If you commence your studies in 2017/18 repayments will not begin until 2020.
- If you take out both an undergraduate and a postgraduate loan you will pay them back simultaneously when meeting both thresholds.
- Any outstanding postgraduate Master’s loan balance will be written off 30 years after the date the borrower’s loan balance becomes due for repayment.
The quickest and easiest way to apply is online at https://www.gov.uk/postgraduate-loan
For further information on Postgraduate Loans, yous can visit SFE’s student finance zone on The Student Room which has been updated with a dedicated Postgraduate Loan section and includes answers to some of the most frequently asked questions.