Who is eligible for a postgraduate student loan?

To help fund your dedication to further study, you can apply for a postgraduate loan. Whether you qualify depends on your course, your age and your nationality or residency status:

  • The course you’re applying for must be a be a full, standalone master’s course (not a top-up course)
  • Your course can be a taught or research-based Master’s programme – these include an MA, MSc, MRes, MBA, LLM although not a postgraduate certificate or diploma.
  • Your course can be full or part-time.
  • You must not have previously studied a Master’s degree or equivalent or higher course.
  • You need to be under 60 years old on the first day of the first academic year of your course.Eligiblity to apply depends on your nationality or residency status – check the UK government Postgraduate Master’s Loan webpages for full eligibility information.

Other eligibility may apply: we recommend you check the UK government Postgraduate Master’s Loan webpages for full information.

How much can postgraduate students borrow?

•    To support your postgraduate studies, you can currently borrow up to £11,836 if your course starts on or after 1 August 2022

We advise you to check the UK government Postgraduate Master’s Loan webpages for up to date information on how much you can borrow.

It is important to look at how you can spend this loan to get the most out of it:

Your postgraduate loan is designed to be spent on:

  • Covering tuition fees
  • Assisting with your living costs
  • Funding study materials, travel or whatever is needed to support your course.

Be aware that although tempting, you don’t have to borrow the full amount. It is up to you how much you would like to take out.

Once confirmed, the loan will be paid directly to you by the Student Loans Company in three instalments per year.

How can I repay my postgraduate student loan?

Like any borrowed cash, you are going to need to pay it back at some point. You’ll have to start repaying your loan when your income is over a certain amount (the ‘threshold’ amount).

Don’t forget you’ll be charged interest from the day you get the first payment and you’ll have to repay the loan if you leave your course early.

  • The postgraduate loan will be repaid based on your income at a rate of 6% of earnings over £21,000 (before tax and other deductions).
  • Repayments will ordinarily start in the April after you graduate.

Don't forget that any remaining, unpaid debt will be cancelled after 30 years.

Please check the UK government’s webpages on how to repay your postgraduate student loan for the most up to date information.