Postgraduate loans 2017/18

Student Finance England's new postgraduate loan application service is now open and SFE is encouraging students to apply as early as possible to make sure their loan is ready for the start of their course.

These loans are not means-tested (they are not linked to household earnings, savings or investments) and are available for new courses from 2017/18 for those who have not previously completed a Master’s.

Apply now for the postgraduate loan through Student Finance England.

    Postgraduate loans: the facts

    Key points

    • You choose the loan size, up to a maximum of £10,000, regardless of the course fee.
    • The loan will be paid directly in to your UK bank account, in three equal instalments.
    • The loan is a contribution towards the costs of study: put it towards fees, maintenance costs or other costs.
    • Apply for a loan via Student Finance England.


    • Applicants to a full-time, part-time and distance-learning Master’s programme (including MRes). 
    • UK Nationals (and individuals with settled status in the UK)
      • Ordinarily resident in the UK for three years
      • Most recently resident in England
    • If you’re an EU national and have been living in the EEA or Switzerland for at least three years before the start of your course, you’ll also be able to apply for a postgraduate loan.
    • Those with residency status of refugee, humanitarian protection, EEA or Swiss migrant worker, a family member of any of these categories, or a child of a Swiss national or child of a Turkish worker may be eligible.
    • Aged under 60 on the first day of the first academic year of the course.
    • Your course must be a full, stand-alone Master's course, and no credit from previous study or from work experience can be incorporated.

    How and when to apply?

    What is not covered?

    • Applicants who already have a Master’s or equivalent or higher level qualification.
    • Postgraduate Certificates (PgCert) or Postgraduate Diplomas (PgDip). If you are interested in studying for these, talk to us about your options. 
    • MPhil/PhD research degrees or Master's degrees that are undertaken as an integral part of a doctoral degree. 
    • International students. 
    • Master's degrees that are longer than 2 years in duration may not be eligible. For more information, please


    • Repayments to the Student Loan Company will operate in a similar way to current undergraduate loans (income contingent repayment), through automatic deductions from your salary.
      • 6% repayment rate on gross earnings above £21,000
      • Interest charged at RPI + 3%.
      • The earliest you'll start repaying your postgraduate loan is April 2019, if your income is over £21,000 per year.
      • Those repaying from overseas will have a threshold applied based on the cost of living in their country of residence.
      • Outstanding debt will be written off after 30 years.
      • Repayments will be made simultaneously with any undergraduate loans held.