Master's loan

The UK government offers a loan for master's students of up to £12,471 to students in England. This is designed to help with course fees and living costs while you study.

If you’re a UK student resident in England joining a master’s course, you may qualify for a master's loan from the government.

The loan covers taught, research or professional master's programmes. For postgraduate taught courses starting in the academic year 2024/25, students will be eligible for up to £12,471. The loan can be used towards tuition fees and any other costs associated with study, including your living costs.

You're eligible for the loan if:

You study one of our on-campus master's programmes or a master's programme delivered by distance learning
You’re a UK national
You have 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
Are under 60 years of age.

The loan is:

Not means tested
Issued directly to you in three instalments
Repayable when you’re earning above the income threshold and will be calculated at 6% of income.

Visit the UK government website for more detailed information about postgraduate loans.

How to apply

Applications are made online to Student Finance England.

Alternatively, you can call the Student Finance England customer helpline on 0300 100 0031.

Apply online for a master's loan

More information on applying for a master's loan

We recommend that you start your application for student finance early, rather than waiting for any offers of a university place and that you submit your application no later than the end of May in the year you hope to start your programme.

Repayments

You'll only start repayment of postgraduate master's loans:

In the April after you leave university
When you're earning over £21,000 per year.

Repayments will be made at 6% of income above this £21,000 threshold, so the amount repaid each month will depend on your earnings. Your repayments will be suspended if your income falls below £21,000 for any reason. Payments are deducted automatically from your pay through the UK tax system (PAYE).

Interest will be charged at the Retail Price Index plus 3%.

If you've not paid off your loan after 30 years, all outstanding repayments will be written off.

Additional financial support from the government

If you have a disability or specific learning difficulty, you may be eligible for Disabled Students' Allowance. You can apply for help with the cost of specialist equipment, such as computer software, extra travel costs due to a disability, or other support necessary to study on your programme.

Any funding received through the Disabled Students' Allowance is non-repayable. We recommend that you apply for this funding as soon as possible, rather than waiting until you have confirmed your place with us.

Further information, including how to apply, is available on the the Disabled Students' Allowance website. Our Disability Support Team can help you with your application.

Students from other UK nations

If you're ordinarily resident in Northern Ireland, Scotland or Wales, you're not eligible for the postgraduate mater's loan from Student Finance England. Visit your country's Government website to check what financial help you may be eligible for.