Postgraduate Loan

A guide to postgraduate student loans 2018/19 for UK and EU students.

Student loans are available for many of our postgraduate degrees and are provided by the Student Loans Company (SLC). The loan can cover a wide range of postgraduate study options - part-time, full-time and distance learning. However, postgraduate certificates (PgCerts), postgraduate diplomas (PgDips) and PhD courses are excluded if you live in England or Wales.

You can apply for a postgraduate loan if you are:

  • Studying a taught or research Masters course such as an MA, MSc or MBA
  • Under 60 years old at the start of your course
  • Ordinarily resident in England or Wales, or an EU national

What can I get?

You can apply for a loan of up to £10,609 as a contribution towards your course and living costs if you are ordinarily resident in England or Wales.note You don't have to hold an offer of a place to apply for a loan and can still apply if you have an existing undergraduate loan.note

When will I get the money?

The loan will be paid into your bank account in three instalments. If your course is longer than one year, you can get up to £5,304.50 in your first year and the rest in your second year. If you're studying part-time and commence your studies in 2018/19 your payments will be split equally over the duration of your course.

How do I repay my loan?

You have to repay any loan you borrow, but not until you've finished or left your course. The rate at which you will repay your loan is 6% of your income over £21,000 a year. The interest rate is set by adding 3% to the Retail Price Index (RPI).note

If you are living in the UK: Your employer will deduct repayments when your salary exceeds the minimum amount. You must repay any undergraduate student loans you have at the same time.

If you are living outside the UK: If you go abroad for more than three months after you finish or leave your course, you must let the SLC know to make arrangements to repay your postgraduate loan.

Note: You still have to repay your student loan if you don't complete your course.

For further information on repayment visit postgraduate loan repayment.

How do I apply?

Applications for courses commencing in academic year 2018/19 will open from June 2018. You can either apply online through the Student Finance England website or download and print the application forms to send by post.note You will only have to apply once, even if your course is longer than one year.

Note: The deadline for applying is 9 months after the first day of either:

  • Your first academic year if you're on a 1-year full-time course
  • Your second academic year if you're on a 2-year full-time course or a 3- or 4-year part-time course

What if I live in Wales?

From 2018/19 a new loan system will be available for Welsh-resident students offering up to £13,000 for courses at UK universities.

You can apply online through the Student Finance Wales portal, or visit for more information.

What if I live in Scotland?

Scotland now offers s