Fees and Funding
In November 2016 the UK Government confirmed that a new postgraduate loan scheme will be introduced for students commencing master’s courses in the 2016/17 academic year.
Non means-tested loans of up to a maximum of £10,000 a year will be available to taught and research Master's students.
Detailed eligibility criteria and information regarding the application process is expected early in 2016. In the mean time the following summarises the key information published to date.
- Non means-tested loans of up to £10,000 per year will be made available to students applying to taught and research Master's courses. PhD students will be funded through a separate scheme.
- Loans will be available to students under the age of 60 studying full-time, part-time (at least 50% of a full-time course) or on distance-learning courses.
- Loans will be available to students across all discipline areas.
- The loan is considered to be a contribution towards the costs of postgraduate study and will not be available if you already have a Master's qualification.
- Postgraduate funding is considered a devolved matter for Scotland, Wales and Northern Ireland. Therefore loans are only available for students resident in England.
- Repayments will be on an income-contingent basis commencing in 2019.
- Postgraduate loan repayments will be paid concurrently with undergraduate loan repayments, at a rate of 6% of annual income over £21,000.
- Interest will be charged at RPI + 3%.
