Postgraduate loans

A UK Government £10,280 loan scheme for postgraduates is available for courses beginning this autumn. 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 degree.

Apply now for the postgraduate loan through Student Finance England.

Key points

  • You choose the loan size, up to a maximum of £10,280, 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 two 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.