If you are a Welsh student you may be able to borrow up to £17,489 as a combination of a grant and loan which can be used towards your tuition fees and living costs:

  • a maximum grant of £6,885 and loan of £10,604 if your household income is £18,370 and below
  • a grant of £1,000 and loan of £16,489 if your household income is not taken into account or is above £59,200.

If your household income is between £18,370 and £59,200, you may apply for a means tested grant with the remainder of your entitlement being awarded as a loan.

Am I eligible to apply?

To be eligible for a Welsh government loan, you must be aged under 60 and be a UK national or have settled status in the UK. You also need to be ordinarily resident in the Wales (not for purposes of study) and have been living in the UK and Islands for the three years prior to the first day of the first academic year of your programme.

How will I repay the loan?

You will repay your postgraduate loan at 9% of income over £21,000. This means that you will only repay when you are earning over £21,000 a year and will only repay 9% of what you earn over this threshold.

Repayments will be automatically deducted from your monthly salary along with income tax and National Insurance. If you are self-employed you will make repayments as part of your annual self assessment and tax return. You will begin repaying your Welsh postgraduate loan in the April after you graduate from your course - provided you are earning over £21,000.

Your loan will begin accruing interest once the first payment is made to you. The current interest rate for Welsh postgraduate loans is based on the UK Retail Price Index (RPI) plus 3%.

How do I apply?

For more information, please see Student Finance Wales.