You can apply for your loan online at:
The loan is a contribution towards the costs of study.
Student Finance England and Student Finance Wales offer loans of up to £10,280 (this amount is reviewed annually), which is paid directly to the student. It's your choice how much to borrow and whether to use the loan for tuition fees, living costs or other costs.
Students from Northern Ireland can borrow up to £5,500, which is paid directly to the institution to cover tuition fees. If your tuition fees are less than £5,500, Student Finance NI will lend you the lower amount.
Applications will open in the early summer. Look out for announcements on our website and Twitter.
If you've received funding for your undergraduate study, you should apply to the same funding provider and you can use the same account to apply for the loan. If you haven't previously applied for funding, you should apply to the funding body where you are normally resident.
You can apply online for a postgraduate loan before you have accepted a place on a course, as you can update the university and course details at a later date.
Once you've completed your application you'll need to sign and return a declaration form. You'll receive a letter confirming the amount of loan and the payment dates, which are three times over the year. However, you must register at university before you can receive any money.
You must be a UK National (or have settled status in the UK) who has been ordinarily resident in the UK and Islands for three years on the first day of the first academic year of the course.
You must have been most recently resident in England, Wales or Northern Ireland. Temporary absences from a home address, such as travelling overseas, won’t affect your eligibility.
The Student Awards Agency for Scotland (SAAS) will ordinarily only fund students from Scotland to study at an institution in Scotland. They may exceptionally fund study outside Scotland if the course is not available at a Scottish institution. For further information, contact SAAS about the eligibility for the course that you intend to study.
You may be eligible if you are an EU national, a child of a Swiss national or child of a Turkish worker. You may be eligible if you have the residency status of: refugee, humanitarian protection, EEA or Swiss migrant worker, or have a family member in any of these categories.
EU nationals who completed their undergraduate degree outside the UK or within England, should apply through Student Finance England. EU nationals who studied in Wales or Northern Ireland should apply through either Student Finance Wales or Student Finance NI.
The FindAMasters website provides details of the courses eligible for postgraduate loans. Please note that integrated Masters (eg. the MEng or MSci), Postgraduate Certificates, including the PGCE, and Postgraduate Diplomas are not eligible courses.
You must be aged under 60 on the first day of the first academic year of the course.
The academic year is the period of twelve months starting on 1st September, 1st January, 1st April or 1st July. For example, if you begin a course on any date from August to December 2017, the first day of the academic year is taken as 1st September 2017. You must be aged under 60 on that date. There isn't a lower age limit.
You won’t be eligible for a postgraduate loan if you are in arrears for a previous student loan or have previously been found to be ‘unfit’ for student support.
You won’t be eligible if you already hold:
This applies even if the previous qualification was entirely self-funded or an award from outside the UK.
Any lower level qualifications held may not affect eligibility for PG loan. If the applicant holds a postgraduate Initial Teacher Training (ITT) qualification (i.e. a PGCE), a postgraduate certificate or a postgraduate diploma (or an overseas equivalent), this will not make them ineligible for PGL. Note, however, that PGL will only be available where the student is undertaking a full stand alone Masters course, not a partial Masters course requiring a lesser number of credits, either as a result of the student’s previous study or experience.
Loans will usually start to be repaid from the April after the course ends and when you are earning over £21,000 per year, similar to the undergraduate loan scheme.
Postgraduate loans will be repaid at the same time and using the same method as undergraduate loans. Repayment rates for postgraduate loans will be at 6% of income above a salary earning £21,000 per year.
If you also have a loan for your undergraduate study, you will repay this at the same time once you have exceeded the income threshold.
Interest is charged at Retail Price Index (RPI) plus 3%. The rate for RPI is reviewed annually.
Download the presentation from a recent talk on postgraduate loans by the UK Student Recruitment Team: postgraduate loans presentation (PDF, 2,239kB).
Detailed Q&A documents can be found on the SLC website.
A useful list of frequently asked questions is available from FindAMasters.com.
Student Finance England have produced a range of resources to help introduce the new Postgraduate Loans:
University of Bristol,
Bristol, BS8 1TH, UK
Tel: +44 (0)117 928 9000