Savanna Hoffman
Postgraduate student finance is a separate process from undergraduate study, and there are different funding options available for master's degrees. In the UK, Student Finance England provides loans for full master's degrees from UK universities. The funding can be used for both tuition fees and living expenses, and the loan is paid directly into the student's bank account. Students can apply for a maximum amount for full-time and part-time study, either on-campus or through distance learning. Postgraduate loans are also available for online master's degrees from recognised UK universities. However, it is important to note that the loan amount may not always cover the entire tuition fee, and students may need to consider alternative funding options.
| Characteristics | Values |
|---|---|
| Postgraduate loan amount for a master's course starting on or after 1 August 2025 | £12,858 |
| Postgraduate loan amount for a master's course starting between 1 August 2024 and 31 July 2025 | £12,471 |
| Postgraduate loan amount for a master's course starting between 1 August 2023 and 31 July 2024 | £12,167 |
| Repayment threshold for undergraduate loans | £19,895 |
| Repayment threshold for Postgraduate Master's Loan | £21,000 |
| Repayment percentage for undergraduate loans | 9% |
| Repayment percentage for Postgraduate Master's Loan | 6% |
| Postgraduate loan repayment start date | April after course completion or withdrawal |
| Holding a PGCE qualification | Should not affect eligibility for a postgraduate master's loan |
| Course type eligible for Postgraduate Master's Loan | Full-time or part-time master's degree |
| Course duration eligible for Postgraduate Master's Loan | One or two academic years |
| Student Finance payment method | Direct to student's bank account |
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What You'll Learn
Postgraduate loans are separate from undergraduate loans
Postgraduate loans are paid in instalments over the duration of the course. Undergraduate loans, on the other hand, are typically paid in three instalments over the academic year. Postgraduate loans are also not affected by the amount of time taken to complete undergraduate studies. Postgraduate students are responsible for budgeting for their entire postgraduate study, including any living costs that exceed the loan amount.
Additionally, there is no separate maintenance loan for postgraduate loans, as there is with undergraduate loans. This means that postgraduate students must manage their finances to cover all expenses, including tuition and living costs, from a single loan package. The transition between undergraduate and postgraduate funding can be disorienting and disheartening for students, as the support offered by postgraduate loans may not adequately cover their costs.
It is worth noting that there are exceptions to the postgraduate loan system. For example, PGCE courses and pre-registration healthcare courses, such as the MNurse course, still attract the undergraduate model of funding. In such cases, students would apply for undergraduate student loans rather than a postgraduate loan.
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You can get up to £12,858 for a master's course
If you're a home student from England, you can apply for a loan of up to £12,858 for a master's course starting on or after 1 August 2025. This loan is available for full-time or part-time master's degrees and can be used for both online and on-campus courses. The loan is paid directly into your bank account, and you can use it to pay your course fees, cover living costs, or both. However, it's important to note that the full £12,858 might not cover all your expenses, so you may need to consider alternative funding options as well.
The funding process for postgraduate courses is different from undergraduate study. Postgraduate loans are a separate product from undergraduate loans, so the time taken to complete your undergraduate studies does not affect your postgraduate loan. Additionally, master's loans do not include maintenance loans, and you will need to budget for tuition fees and living expenses with the loan amount provided.
To be eligible for a Postgraduate Master's Loan, your course must be a complete master's course with 180 credits. You cannot get a postgraduate loan for shorter courses such as Postgraduate Certificates (PgCert) or Postgraduate Diplomas (PgDip). Your course can be studied in person at a university or through distance learning, and it can be full-time or part-time.
Repayments for your Postgraduate Master's Loan will begin in the April after you finish or leave your course, but only if your income is over the repayment threshold. The current threshold is £21,000 per year, £1,750 per month, or £404 per week before tax and National Insurance. If you're self-employed, you'll make repayments through self-assessment, and if you move overseas, you must inform Student Finance England. The amount you repay will depend on your income, and you'll repay 6% of your income over the threshold.
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You can apply for funding for the academic year 2025-2026
If you are considering applying for a master's degree in the UK, you may be eligible for a Postgraduate Master's Loan to help with course fees and living costs. The funding process for postgraduate courses is different from undergraduate study. Postgraduate loans are a different product from undergraduate loans, so the amount of time you took to complete your undergraduate degree will not affect your postgraduate loan.
You can now apply for funding for the 2025-2026 academic year. If your course starts on or after 1 August 2025, you can get up to £12,858. The loan will be paid directly into your bank account, and you can use it to pay your course fees, cover your living costs, or both. However, the full amount might not cover everything, so you may need to consider alternative funding. Postgraduate Master's Loans are available for full-time or part-time master's degrees, and you can study in person, online, or through distance learning. You can only get a Postgraduate Master's Loan for a complete master's course of 180 credits; it is not available for shorter courses such as a PgCert or PgDip.
You will need to repay your Postgraduate Master's Loan, and you will be due to start making repayments the April after you finish or leave your course, but only if your income is over the repayment threshold. The current threshold is £21,000 a year, £1,750 a month, or £404 a week before tax and National Insurance. You will repay 6% of your income over this threshold. If you are self-employed, you will make repayments at the same time as you pay tax through self-assessment. If you are employed, your repayments will be deducted by payroll.
You can also explore other options for funding your master's degree. For example, you may be able to get funding from your employer or a charity or trust, especially if you are from a lower-income background or have achieved academic excellence. Some societies also offer funding for postgraduate research, such as the British Academy, the Royal Academy of Engineering, and the Royal Society.
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You can get a loan for a full-time or part-time master's degree
Postgraduate loans are a great way to fund your master's degree. You can get a loan for a full-time or part-time master's degree, and the funding can be used to pay for course fees, living costs, or both. The loan is paid directly into your bank account, and you can use it as you see fit. However, it's important to note that the loan might not cover all your expenses, so you may need to consider alternative funding sources as well.
The amount you can borrow depends on when your course starts. For courses starting on or after 1 August 2025, you can get up to £12,858. This amount is the same for both full-time and part-time students. The loan is also not related to your income or the tuition fees set by the university. You will need to repay the loan, but only if your income is over a certain threshold. The current threshold is £21,000 per year, £1,750 per month, or £404 per week before tax and National Insurance.
The application process for a postgraduate loan is different from that of an undergraduate loan. Holding a PGCE qualification will not affect your eligibility for a postgraduate master's loan. Additionally, changing your postgraduate course won't affect your eligibility for the loan. However, you cannot get a postgraduate loan for certain courses, such as PgCert or PgDip, or for courses funded by undergraduate student finance, like Initial Teacher Training.
It's important to plan and budget carefully when considering a master's degree. The funding process for postgraduate courses can be complicated and confusing, so it's always a good idea to seek guidance from student finance experts or official government websites.
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You'll need to repay 6% of your income over £21,000
Postgraduate loans are a different product from undergraduate loans, and the funding process for postgraduate courses is different from undergraduate study.
If you're a home student from England, you can apply for a loan of up to £12,858 for a master's course starting on or after 1 August 2025. The loan is paid directly into your bank account, and you can use it to pay your course fees, cover your living costs, or both. Postgraduate Master's Loans do not include maintenance loans, and the full loan amount might not cover all your expenses.
If you move overseas, you must let Student Finance England know. You'll repay directly to them, and the amount you repay will depend on your income, not how much you borrowed. You can request a refund at the end of the tax year if your total income was below £21,000.
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Frequently asked questions
Yes, you can get a Postgraduate Master's Loan to help fund a full-time or part-time master's degree.
You can get up to £12,858 if your course starts on or after 1 August 2025. The loan will be paid directly into your bank account, and you can use it to pay your course fees, cover your living costs, or both.
You'll be due to start making repayments the April after you finish or leave your course, and only if your income is over the repayment threshold. The current threshold is £21,000 a year, £1,750 a month, or £404 a week before tax and National Insurance.
You’ll repay 6% of your income over £21,000 per year, £1,750 a month, or £404 a week. So, if you’re paid monthly and earn £2,500 a month before tax, you’ll repay 6% of the difference between what you earn and the monthly threshold.
Yes, you can also get funding for your master's degree through studentships, bursaries, grants, and even your employer. Charities and trusts sometimes provide grants, and societies like the British Academy, the Royal Academy of Engineering, and the Royal Society also offer funding for postgraduate research.
