Postgraduate Loan Scheme
The UK Government provides a postgraduate loan scheme for students undertaking Masters courses.
Non means-tested loans of up to £10,000 are made available to students applying to taught and research Masters courses*.
For more information, go to the main Lancaster University page.
Professional and career development loans
You can apply for a Career Development Loan if you live or intend to train in the UK and plan to use that training for work in the UK or elsewhere in the EU or European Economic Area (EEA).
In practice, if you require a work permit in order to work in the UK or EU after graduation, you are very unlikely to qualify for a Career Development Loan.
The Career Development Loan Scheme is run in partnership with the UK Department of Education and Employment and is available from the following banks:
- Barclays Bank
- Co-operative Bank
For further information about the scheme, see the UK government's web pages on career development loans.
There are loan options available to help you fund your studies. Here is one option as advertised by the providers:
Prodigy Finance is revolutionising student finance. Our innovative model offers alumni-funded loans to international students at the world’s top business schools, including Lancaster University Management School. While banks base their loan decisions on historical salaries, Prodigy looks to the future. We assess applicants’ future earning potential (based on the past achievements of similar graduates) to determine loan affordability. Our model is borderless, allowing us to offer competitive rates to over 150 nationalities of students.
Accepted students into the full time MBA programme are eligible to apply for a loan with Prodigy.
Interest rates vary depending on individual applicants. See more detail about the terms and conditions, and how to apply for a loan on Prodigy’s website.
Why choose Prodigy?
- 150 nationalities covered
- Competitive interest rates
- No collateral or guarantees required
- Easy online process
- No repayments while you study
Prodigy Finance Ltd is incorporated in the United Kingdom (Company Number 05912562) and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713. Prodigy's registered address is Palladium House 1-4 Argyll Street, London, W1F 7LD
* All of the Management School Masters programmes qualify for the Postgraduate Loan Scheme, except the Management (2 Year European Triple Degree) and the International Masters Programme for Managers.