For a master's degree, you can get a Postgraduate Master's Loan of up to £12,471, with the exact amount depending on when your course started.
The loan amount available for a master's degree varies based on the academic year in which your course commenced. This financial support is designed to help cover course fees and living costs during your postgraduate study.
Understanding Your Master's Loan Entitlement
The specific amount of loan you can receive is determined by the start date of your master's program. Below is a breakdown of the maximum loan amounts available:
| Course Start Date | Maximum Loan Amount |
|---|---|
| On or after 1 August 2024 | £12,471 |
| Between 1 August 2023 and 31 July 2024 | £12,167 |
| Between 1 August 2022 and 31 July 2023 | £11,836 |
This loan is typically paid directly to you in installments throughout your course, allowing you to manage your finances for tuition fees and daily expenses.
Key Aspects of the Master's Loan
- Purpose: The loan is intended to contribute towards your tuition fees, living costs, and other study-related expenses. You have the flexibility to decide how you allocate the funds.
- Eligibility: To be eligible, you generally need to be studying a master's course in the UK, and meet specific residency and course criteria.
- Repayment: Repayment of the loan usually begins once you've completed your course and your income is above a certain threshold. Interest is applied to the loan from the day the first payment is made to you.
For comprehensive information on postgraduate funding, including eligibility requirements and application processes, you can refer to official government guidance on funding for postgraduate study.
