91̽»¨

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On this page:

• Eligibility
• How much can I borrow
• How to apply
• Paying back your loan
• Support for students with a disability
• Additional information
• Contact us about fees and funding

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Eligibility

Eligible home fee-paying students can apply for a postgraduate masters loan from the UK government to help fund their studies. For students from England, the agency is Student Finance England. 

You will not be able to get a postgraduate masters loan if you already have a masters degree, or a qualification that is equivalent or higher.

Course

Your course must be worth at least 180 credits at an eligible university or college in the UK. 

Courses can be full time (lasting 1 or 2 academic years) or part time (lasting 2 to 4 academic years - no more than twice the length of the equivalent full-time course).

Masters courses that are currently funded by the undergraduate support system, such as integrated masters, full-time postgraduate pre-registration healthcare courses, and full-time Masters of Architecture, will not be eligible and neither will other postgraduate qualifications that do not result in a masters qualification, such as a postgraduate certificate or diploma.

You cannot get a postgraduate masters loan if you are eligible for an NHS Bursary or receive a Social Work Bursary (unless you only get a Placement Travel Allowance); the exception to this is the Masters Degree in Physician Associate Studies.

You can qualify for a loan if you are undertaking distance learning, depending on whether you meet the relevant eligibility criteria.

For more information about eligibility, please refer to the government website.

If you're not sure whether your course is eligible, you should contact the Student Fees (Records) Team.

Age

You must be under 60 on the first day of the first academic year of your course.

The academic year is a period of 12 months starting on:

• 1 September, if your course starts between 1 August and 31 December
• 1 January, if your course starts between 1 January and 31 March
• 1 April, if your course starts between 1 April and 30 June
• 1 July, if your course starts between 1 July and 31 July

Nationality or residency status

Whether you qualify for a loan depends on your nationality or residency status.

For more information about eligibility, please refer to the government website.

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How much can I borrow

The postgraduate masters loan is intended to be a contribution towards the costs of studying a postgraduate masters course. You can choose to use it towards your course fees and/or living costs.

The amount you’ll get is not based on your income or your family’s. If you are starting your course in the academic year 2024-2025, you can borrow up to £12,471.

A lower amount of loan is available if you are already registered on a course:

Course start date	Maximum loan available
Between 1 August 2023 and 31 July 2024	£12,167
Between 1 August 2022 and 31 July 2023	£11,836

If your course lasts for more than a year, the loan will be divided equally across each year of your course.

After your application has been approved, you’ll be sent a letter with your payment dates. You can also check them in your online account. The loan will be paid directly to you in three instalments of 33%, 33% and 34% each year. You get the first payment after your course start date, once the University confirms that you’ve registered. 

Any student using a postgraduate masters loan from the UK government to pay or contribute towards their tuition fee will be able to pay their tuition fes in three instalments. Find out more about paying your tuition fee as a postgraduate taught student.

Repeat years of study will generally not be funded (even where a previous postgraduate course was not completed, or less than the maximum loan amount was requested). A repeat year will only be funded where there is proof of compelling personal reasons for repeating an academic year, eg illness or bereavement. 

The Department for Work and Pensions (DWP) may take account of the loan when working out any benefits you receive. If you would like further guidance on the loan's impact on any benefits you receive, in the Students' Union.

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How to apply

Applications usually open in the May or June before you start your course. 

You only need to apply once for a postgraduate masters loan for your course.

You need to apply within 9 months of the first day of the last academic year of the course.

For more information, please refer to the government website.

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Paying back your loan

When do I pay back my loan?

Loan repayments will usually commence from the April after course completion at the earliest and only when your income is over the repayment threshold set by the government: this is currently £21,000 a year for postgraduate loan repayment plans. 

For more information, please refer to the government website.

How do I pay back my loan?

Your repayments will be taken out of your salary at the same time as tax and National Insurance if you’re an employee. Your payslips will show how much has been deducted. If you're self-employed, you'll pay through HM Revenue and Customs.

For more information, please refer to the government website.

How much will I pay?

How much you repay depends on your income. You’ll repay a percentage of your income over the repayment threshold set by the government (currently £21,000 for postgraduate loan repayment plans).

The masters loan repayment will be calculated at 6% of income above the repayment threshold.

Repayments will be made concurrently alongside repayment of any outstanding undergraduate student loan.

Your repayments are based on what you earn, not what you owe. If your wages drop, this is reflected in your repayments. For more information, please refer to the government website.

You can choose to make extra repayments towards your student loan. For more information, please refer to the government website.

Your postgraduate masters loan will be written off 30 years after the April you were first due to repay.

What about interest?

The loan's interest rate will usually be calculated at the Retail Price Index (RPI) plus 3%. This interest will accrue from the date the first loan instalment is paid.

For more information about how the interest is calculated, please refer to the government website.

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Support for students with a disability

If you have a disability or specific learning difficulty, such as dyslexia, you can apply for Disabled Students’ Allowance (DSA).

This can be on its own or in addition to any student finance you get, though you must at least be eligible to receive student finance.

The type of support and how much you get depends on your individual needs - not your household income. For part-time students, your ‘course intensity’ can affect how much DSA you get (‘course intensity’ means how long your course takes to complete each year compared to an equivalent full-time course).

Postgraduate students will need to fill in a form. Find out more information on the government website.

More information about the support available for disabled students at 91̽»¨ can be found on the Disability and Dyslexia Support Service (DDSS) web pages.

Disability and Dyslexia Support Service (DDSS)

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Additional information

For more information about paying your tuition fees as a postgraduate masters student using a masters loan, refer to our web pages.

Tuition fee information for postgraduate taught home students

Guidance about additional funding and how to manage your money can be found on our web pages.

Living costs

Additional funding for postgraduate study

If you need to discuss your financial situation with someone, you can contact the Student Advice Centre in the Students' Union (both prospective students with an offer and current students). 

They have also provided some useful money management information online, available to all.

If you are a prospective student and have any other general enquiries, find out more about how you can contact us.