The Postgraduate Master’s Loan is designed to support your course and living expenses while pursuing postgraduate studies, with the understanding that it must be repaid. The loan amount is not dependent on household income.
Loan Amounts:
For courses starting on or after August 1, 2023: Up to £12,167 is available.
For courses starting between:
- August1, 2022, and July 31, 2023: Up to £11,836.
- August1, 2021, and July 31, 2022: Up to £11,570.
Loan payments are spread across each academic year of your course. For instance, if you apply for the maximum loan amount for the academic year 2023-2024 and your course spans two years, you would receive around £6,083 per academic year, distributed in three installments.
Part-Time Study:
For part-time master’s courses, payments are spread over the full course duration. For example, if you apply for the maximum loan amount for the academic year 2023-2024 and study over four years, you’ll receive around £3,041 each year.
Disabled Students’ Allowance:
If you have a disability, including mental health conditions or specific learning difficulties, you might be eligible for Disabled Students’ Allowance, which does not require repayment.
Eligibility:
Eligibility for the Postgraduate Master’s Loan is based on:
- PersonalCircumstances
- Course
- University
Personal Circumstances:
To be eligible, you must meet criteria regarding:
- Nationalityand Residency
- Age
- PreviousStudy
Course Eligibility:
Your course must be at an eligible UK university or college and must be a full postgraduate master’s course, leading to qualifications such as:
- MSc
- MA
- MPhil
- MRes
- LLM
- MLitt
- MFA
- MEd
- MBA
The course must not be a ‘top-up’ from a lower-level qualification. Certain postgraduate courses such as PgCert, PgDip, or those funded by undergraduate student finance, are ineligible.
For detailed eligibility, consult with your university.\
How to Apply:
Apply online at www.gov.uk/studentfinance. Here’s a brief overview:
- Setup a student finance account: Register or sign in if you have an existing
- Fillin and submit your application: Provide necessary details and indicate the loan amount
- Provideproof of identity: Submit required documents, such as a UK passport or other identification if
- Sendany additional evidence: If requested by Student Finance England, submit any required documents
- Changeof Details: Update your application if any details change during or after the application
What Happens Next:
Student Finance England will assess your application and provide a confirmation letter detailing the approved loan amount and payment dates. Keep this letter safe, as your university may require it during registration.
