All postgraduate master’s qualifications, such as an MA, MSc, MRes, MBA, MEd and LLM are covered by the loan, and you can study either full-time, over one or two years, or a one-year full-time course studied part-time over two years. Any amount up to £10,906 can be borrowed, and used to pay for your tuition fees or other costs associated with studying, such as accommodation or course expenses.
If you already hold a master’s qualification or an equivalent qualification (including an integrated Master's degree such as an MEng/MSci) you will not be eligible for the master's student loan.
The loan is a contribution to the costs of your study and is not sufficient to cover all of your tuition fees and living costs for the period. The University provides information on how to help plan your budget.
Am I eligible to apply?
To be eligible for the UK government master's loan you must be aged under 60 and a UK national or have settled status in the UK. In addition you must 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 living in England and you must not have moved here to study. The loan is not means-tested, meaning anyone who meets the criteria will be eligible to apply.
You may be eligible if you are an EU national or family member of an EU national, or if you have the residency status of refugee, humanitarian protection, EEA migrant worker, child of a Swiss national or child of a Turkish worker. To find out more, please see the direct.gov website.
Alternative loans have been created for postgraduate study if you normally live in Scotland, Wales or Northern Ireland.
How will I repay the loan?
Repayment of the loan will begin once you have completed the course and have a monthly income of £1,750 or more. Your loan will accrue interest at a rate of 3% above the Retail Price Index (RPI) from the date the first installment is paid.
Repayments will be calculated at 6% of your income above £1,750 and will be made concurrently alongside any repayment of outstanding undergraduate student loans. Borrowers repaying two or more government student loans will have a maximum deduction of 15% taken from their salary). Loan repayments will commence in the April after your course is completed, provided you meet the monthly income threshold of £1,750.
How do I apply if I will be studying part-time?
If you will be studying part-time and wish to apply for the government master’s loan, you will need to agree a study plan with the School where you will be studying. It is important you do this as early as possible as it is likely you will not be able to submit your application until this study plan has been agreed.
Please use the appropriate email address below to contact the School you will be studying with to request a study plan for a part-time master's loan.
|School||Contact email address|
|Aeronautical and Automotive Engineeringfirstname.lastname@example.org|
|Architecture, Building and Civil Engineering||Civ.Eng.email@example.com|
|Business and Economicsfirstname.lastname@example.org|
|Communication and Mediaemail@example.com|
|Geography and Environmentfirstname.lastname@example.org|
|Loughborough University Londonemail@example.com|
|Mechanical, Electrical and Manufacturing Engineeringfirstname.lastname@example.org|
|Politics and International Studiesemail@example.com|
|Social and Policy Studiesfirstname.lastname@example.org|
|School of Sports, Exercise and Health Scienceemail@example.com|
Find out more
The Student Loans Company have produced a short video to provide more details.