Postgraduate Loans

Postgraduate Loans

Postgraduate Loans will continue to be available to English domiciled students for AY 2017/18. For Welsh domiciled students the Welsh Government has announced an interim funding system for AY 2017/18 followed by new loans and grants due to be introduced from 2018.

Postgraduate Loans for Welsh Students 

Student Finance Wales has announced that loans will be available for Welsh domiciled students starting a Master's level course in 2017-18.  Full details of the scheme are subject to regulatory approval but are expected to mirror the system in England.  Confirmation of the scheme will be announced in April and loan applications will open in the summer.  

The main features of the scheme are: 

  • Borrow up to £10,280 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 Welsh domiciled students.
  • 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**
  • Loans will be available for distance learning students that are living in Wales.  

Repayments will begin once you are earning over £21,000 per year and will be at 6% of your income over this amount.  If you already have an undergraduate loan from the SLC, you will pay this back at the same time as the postgraduate loan.  

Example: A salary of £25,000 p/year will result in a total repayment of £50 p/month (£30 UG plan 2 loan and £20 PG loan). 
 

Postgraduate Loans for English Students 

The main features of the 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**

Repayments will begin once you are earning over £21,000 per year and will be at 6% of your income over this amount.  If you already have an undergraduate loan from the SLC, you will pay this back at the same time as the postgraduate loan.  

Example: A salary of £25,000 p/year will result in a total repayment of £50 p/month (£30 UG plan 2 loan and £20 PG loan). 

Applying 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. You will find more information about when and how to apply on the Government's postgraduate loan webpages

For further information about these loans, visit the Student Loans Company website or download an Introduction to Postgraduate Loans

 

*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*. 3 year part-time courses with no full-time equivalent will also be eligible.  

**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.