Eligibility

Funding for postgraduate loans is different depending on where in the UK you normally live. Moving somewhere to study does not count as normally living there.

England

If you live in England, your application will be assessed by Student Finance England. Find the loan eligibility criteria on the GOV.uk website.

Wales

If you live in Wales, your application will be assessed by Student Finance Wales. Find the loan eligibility criteria on the Student Finance Wales website.

Northern Ireland

If you live in Northern Ireland, you can check your eligibility on the Student Finance NI website.

Scotland

The Student Awards Agency for Scotland will ordinarily only fund students from Scotland to study at an institution in Scotland. In exceptional circumstances, they may fund study outside Scotland if the course is not available in Scotland. Further information is available on the Student Awards Agency for Scotland website.

European Union

You may be eligible to apply for a Postgraduate Master's Loan if you meet certain residency and elibility criteria.

EU nationals who completed their undergraduate degree in England, or outside the UK, should apply through Student Finance England. EU nationals who studied in Wales should apply through Student Finance Wales. EU nationals who studied in Northern Ireland should apply through Student Finance NI.

Further details regarding eligibility can be found on the Gov.uk website.

How much can I borrow?

The loan is not means-tested. For eligible students, the amount you can borrow varies depending on where you live. For 2022/23, you can borrow:

• Student Finance England: up to £11,836 (subject to government approval), which is paid directly to you. It's your choice how much to borrow and whether to use the loan for tuition fees, living costs or other costs.
• Student Finance Wales: £18,025 (2021/22 figure), which is paid directly to you. It is a combination of a loan and a grant to help with course and living costs.
• Student Finance NI: up to £5,500 (2021/22 figure), which is paid directly to your university or college to cover tuition fees. If your tuition fees are less than £5,500, Student Finance NI will lend you the lower amount.

If you are studying for two, three or four academic years, the loan will be divided equally across each year of your course.

You will receive the first payment after your course start date, once your university or college confirms that you have registered. The loan will be paid in three instalments throughout the academic year.

How to apply

You can apply online at:

• Student Finance England
• Student Finance Wales
• Student Finance NI
• Student Awards Agency for Scotland

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 normally live.

You can apply for the loan up to nine months after the start date of your course. If the course lasts two years or more, you need to apply within 9 months of the first day of the last academic year of the course.

Repayment

Postgraduate loans will be repaid at the same time and using the same method as undergraduate loans. You will be charged interest from the day you get the first payment until your loan is repaid in full or cancelled.

The amount which you repay depends on which Repayment Plan you are on and the level of your household income. 

Further details on the different repayment plans can be found on the GOV.UK website. 

Useful websites

• FindAMasters.com 
• The Student Room website