Value of award
Maximum of £10,609 (2018 entry)
The UK government's Postgraduate Master's Loan Scheme is available for 2018 entry:
- The Loan is non means-tested and is considered as a contribution towards your tuition fees and living expenses.
- It is available to students under the age of 60.
- If you already have a Master’s level qualification (including an integrated Master's), an equivalent qualification or a higher level qualification, you will not be eligible to receive the Master’s Student Loan. This applies even if your previous qualification was entirely self-funded and/or achieved outside the UK.
- If you already have a lower postgraduate qualification, such as a Postgraduate Diploma or Postgraduate Certificate, you will be eligible to receive the loan if you choose to undertake a standalone Master’s course.
- Taught and research Master’s courses in all disciplines (online and campus-based) will normally be eligible, eg MA, MSc, MRes, MEd, MBA, LLM, MPhil, MLitt, MFA.
- You will not be entitled to receive the Postgraduate Loan if you are eligible to receive healthcare funding from any of the following organisations:
- National Health Service (NHS)
- Department of Health (DOH)
- Student Awards Agency Scotland (SAAS)
- Doctoral degrees (eg PhD, EngD, Integrated PhDs), PG Certificates, PG Diplomas, PGCE’s and Master’s courses that are currently funded by the undergraduate support system, eg Master of Architecture (MArch), will not be eligible for the Loan.
- You will not be eligible for the Postgraduate Loan if you are studying towards top-up credits to a gain a Master’s qualification after studying a PG Certificate or PG Diploma.
Eligible course durations
- A full-time course lasting one or two academic years.
- A part-time course lasting two academic years which has a one year full-time equivalent course.
- A part-time course lasting three or four academic years which has a two year full-time equivalent course.
- A part-time course lasting two or three academic years which has no full-time equivalent course.
Non-eligible course durations
- A part-time course lasting three academic years which has a one year full-time equivalent course.
- A part-time course lasting four academic years which does not have an equivalent two year full-time equivalent course
- A part-time course lasting five or more academic years.
- Repayments will be income-contingent and made concurrently with undergraduate loans.
- Repayments will be calculated at 6% of annual income over £21,000 and this income repayment threshold will be frozen until April 2021. If you are paying from overseas, a different threshold may be applied based on your cost of living and country of residence.
- Repayments will not commence until 6 April following the academic year in which you complete your course.
- Interest will be calculated at Retail Prices Index (RPI) + 3%
Administration and payment of the Loan
- The Loan will be issued by the Student Loans Company.
- You will receive the Master’s Student Loan in three instalments across the academic year that will be paid directly into your bank account (UK account only).
Payment 1: Course start date
Payment 2: 4 months after the course start month (last Wednesday of the month)
Payment 3: 7 months after the course start month (last Wednesday of the month)
- No payments will be released until you have supplied a valid National Insurance Number (if you have one).
- There is no minimum loan request amount. You can amend the amount of loan requested up to one month before the end of the academic year, but you cannot request less than has been paid.
- The total amount you request will be split equally and paid in each academic year (up to a maximum of four if you are studying part-time). For example, if you borrowed £10,609 and studied part-time over four years, you will be paid £2,652.25 each year.
- If your course is 14-18 months long you may receive payment(s) after you have finished your course. Payment dates can’t be changed so you’ll need to budget for this.
- You must be a UK national, or have a settled status in the UK, and have been ordinarily resident in the UK for three years on the first day of the academic year of your course start date.
- You must have most recently been resident in England and must not have moved from elsewhere in the UK and Islands solely for the purposes of attending the course.
- You will still be eligible for the Loan if you’ve had temporary absences from your home address, such as for education and travelling.
- You may be eligible if you are an EU national or family member of an EU national, or hold other specific statuses (eg have refugee residency status or are an EEA migrant worker).
Eligible EU students applying for the Postgraduate Master’s Loan from the Student Loans Company for 2018 entry will continue to be eligible for the duration of their course. Future funding arrangements with the EU will be determined as part of the UK’s discussions on its membership.
2016 and 2017 entry students
If you started your studies in 2016 or 2017 and received the Postgraduate Master's Loan Scheme, please see our information for continuing students.
How to apply
The 18/19 application cycle is due to open in summer 2018.
If you are looking for more information, you can visit Student Finance England’s student finance zone, The Student Room, which has been updated with a dedicated Postgraduate Loan section including answers to some of the most frequently asked questions.
Student Finance England has also produced a series of quick guides and films covering:
- An introduction to Postgraduate Loans
- How to apply for a Postgraduate Loan
- Repaying your Postgraduate Loan
More information can also be found on the Gov.UK website.
Students from Northern Ireland, Scotland and Wales
You will need to apply for support from your own student finance agency:
- SAAS offer Postgraduate Loans to students from Scotland
- SFW offer Postgraduate Loans to students from Wales
- SFNI offer Postgraduate Loans to students from Northern Ireland (*)
(*) Before making your application for a Postgraduate Loan from SFNI, please contact Newcastle University at email@example.com and let us know the course title, qualification, mode (full time or part time) and programme code (if known) that you will be requesting a loan for. We will then be in touch to advise you when you can make your application to SFNI.