Postgraduate Loans
Non-means-tested loans of up to £10,000 are available to Masters students. This applies to taught and research Masters degree students. Funding for PhD students is through a separate scheme.
Loans will be available to students under the age of 60 studying full-time, part-time (at least 50% of a full-time course) or on distance-learning courses. Loans will be available to students across all discipline areas. The loan is a contribution towards the costs of postgraduate study. It will not be available if you already have a Master's qualification. Postgraduate funding is considered a devolved matter for Scotland, Wales and Northern Ireland. Loans are only available for students resident in England.
Repayments will be on an income-contingent basis commencing in 2019. Postgraduate loan repayments will be paid concurrently with undergraduate loan repayments, at a rate of 6% of annual income over £21,000. Interest will be charged at RPI + 3%.