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The UK government has confirmed it will be offering Master's degree student loans for the 2016/17 academic year.
The postgraduate loans are available:
- for students up to a maximum of £10,000
- for both taught and research Master's degree programmes in all subject areas
- for all full-time, part-time and distance learning Master's degree programmes (please note; the flexible study option is not eligible)
- to UK nationals (who have been ordinarily resident in the UK and Islands for the past three years). EU nationals and those with specific residency statuses (such as migrant worker, refugee) may also be eligible
- to all students aged under 60
- at any degree-awarding university in the UK.
Repayment
- Loans will be subject to an interest rate of RPI* +3%.
- Repayments will be based on income and will be made concurrently with any existing undergraduate loans.
- Repayment rates will be 6% of annual income over a £21,000 threshold.
- Repayments will not begin before 2019.
*Retail Price Index (definition)
Application
Applications are now open for the UK Government Postgraduate Loans Scheme. Apply for a postgraduate loan: https://www.gov.uk/postgraduate-loan
Full details are available here:
Government advice on funding for postgraduate study
NOTE: All scholarship and student funding schemes are subject to availability of funds, and details given here are subject to change at any time. Potential applicants are urged to check information regularly to ensure they are aware of current procedures, deadlines etc.