The Department of Business, Innovation and Skills (BIS) in England recently confirmed its commitment to providing loans for postgraduate master's degrees for the 2016/17 academic year. Loans of up to £10,000 will be available to English domiciled students studying master's level courses at UK universities, including UWTSD
The main features of the new loans scheme are:
- Borrow up to £10,000 towards the costs of postgraduate study. The loan will be paid directly to the student and can be used for tuition fees and living costs.
- Available to English domiciled students (this includes those currently studying in Wales with permanent addresses in England).
- Available to students under the age of 60 at the start of the course without a prior Master's or higher level qualification.
- Non means tested (not dependent on your family's income).
- Both taught and research master's courses are eligible, including MA, MSc, MRes, MBA, MPhil and MEd courses.
- Loans will be available for full-time, part-time & distance learning master's programmes*
- Only programmes which lead to a Master's qualification will be eligible for a loan**
You will be able to apply for a Postgraduate Loan directly from the Student Loans Company via their website or with a paper-based form. The application process is expected to open in June 2016.
Please note that Welsh, Scottish and Northern Irish domiciled students are not eligible for this loan scheme at this time. The Welsh Government has yet to announce whether a similar system will become available to Welsh domiciled students in the future
*Eligible courses must be either 1 or 2 years full-time or 2 or 4 years part-time. Part-time courses must be a minimum of 50% intensity at the start of the course, compared to the duration of the equivalent full-time course per academic year*). Further details about part-time intensity will be released in Spring 2016
**To apply for a PG loan you must apply and be accepted on to a full Master's programme of study, stand-alone PG Certificate and PG Diploma courses will not be eligible for funding.