Students living in England may be eligible for a Postgraduate Master’s Loan to cover some of the costs of your postgraduate programme. If you are not eligible for a student loan, we offer a simple monthly payment plan to spread the cost of your tuition over the duration of your studies.
Students in England
Postgraduate Master’s Loans are not dependent on household income, although you must fulfil all of the below criteria in order to be eligible:
You will not be eligible for a postgraduate loan if:
Eligibility for EU and international students
You may be eligible a Postgraduate Master’s Loan if you are an EU National and all of the following apply:
You may also be eligible if you are:
Update for EU, other EEA and Swiss nationals
If you are starting your programme on or after 1 August 2021, you must have settled or pre-settled status under the EU Settlement Scheme to get student finance. This does not apply if you’re an Irish National.
Receiving loan payments
If you are eligible for a Postgraduate Master’s Loan, you will receive up to:
The amount you receive is not based on your household income. The loan will be paid directly to you.
The earliest you will start repaying your Postgraduate Master’s Loan is either:
You will only start repaying your loan when your income is over the threshold amount, which is updated on an annual basis. The threshold is currently £404 a week or £1,750 a month (before tax and other deductions).
You will repay 6% of the amount you earn over the threshold for the Postgraduate Master’s Loan. Interest starts being added to your loan from when you receive your first payment.
If you are an employee, your repayments will be taken out of your salary at the same time as tax and National Insurance. If you are self-employed, HMRC will calculate how much you must pay from your tax return. If you leave the UK for more than three months you will need to tell the Student Loans Company (SLC), and they will work out if you have to repay while you’re not in the UK and if so, how much you need to pay.
There is no penalty for making extra repayments to pay some or all of your loan off early.
Applying for a tuition fee loan
Our specialist student finance team are available to guide you through the application process – simply call us on +44 (0) 151 318 4466.
Note: while our team can advise you on your eligibility and the Postgraduate Master’s Loan, the final decision about your loan will be made by the Student Loans Company.
Your loan will need to have been approved by the Student Loans Company before your programme start date.