Master’s students are now able to get ?10,000+ graduate loans from the Student Loans Company

This is actually the very first incarnation with this guide; if you were to think i have missed any such thing or have any concerns do inform me into the MSE Forum discussion or via my Twitter and I also will attempt to include it where appropriate.

For those who’ve started their studies that are undergraduate 2012, the education loan system is going to be pretty familiar. For people who went before that, there are lots of modifications. To learn more about just how loans that are undergraduate, see my 22 scholar Loan Mythbusters guide.

Get Our Complimentary Cash Recommendations Email!

You need to be under 60, staying in England and doing all of your very first master’s to meet the requirements

The newest postgraduate master’s education loan is just for brand new beginners from 1 August 2016; people who began a master’s before this defintely won’t be qualified. Applications are actually available and you will use regarding the scholar Loans Company internet site or by post by getting a credit card applicatoin type.

If you have currently sent applications for pupil finance into the past you can make use of your current login details. If you don’t, you will have to register. You have as much as nine months from the beginning associated with the educational 12 months to utilize (or nine months following the start of 2nd 12 months if it is a two-year course).

And there are various other eligibility criteria too.

— you should be under 60: if you are 60 or higher in the very first time the scholastic 12 months begins, you cannot have the loan.

— This needs to be very first master’s level: in the event that you curently have a master’s degree or a greater certification (even when it had been perhaps not from the British college) you may not qualify for the mortgage.

— it should be a complete master’s course: This theoretically means a level 7 certification worth 180 credits. Postgrad diplomas therefore don’t count since these usually are 120 or 60 credits.

— it must be considered a maximum course that is four-year Any master’s program including taught, research, learning online and expert, in almost any topic within an qualified UK university (one which has capacity to provide levels), is okay.

It ought to be a one or two-year postgraduate master’s program, or you’re learning part-time, this course should be at the very least 50% strength (ie, a maximum four-year program). You may also have the loan if you should be for a three-year part-time course even in the event there is absolutely no full-time equivalent.

— This should be your only financing: if you possibly could submit an application for a bursary instead, eg a healthcare bursary through the NHS, a social work bursary through the Department of wellness, personal Services and Public Safety (DHSSPS) or a bursary from scholar Awards Agency Scotland (SAAS), you may not qualify for the loan that is postgraduate.

— you truly must be a British national surviving in England: you must be living in England, and have lived in the UK for at least three years, to qualify if you’re a UK or EU national. You might also be capable of geting the mortgage if you’re an EU national, you’ve been located in the EU for the last 36 months, you’ll reside in England as soon as your course begins and you’ll be their studies at an English college or university.

The specific situation for everyone various other aspects of great britain differs. We are concentrating mainly on England in this guide, so make certain you research all the T&Cs, eligibility requirements and numbers for the area.

Scotland

Scottish students can use for the tuition that is postgraduate loan to pay for tuition charges up to ?5,500 when signed up for Masters’ and postgraduate diploma programmes. Full-time pupils may also be entitled to an income expense loan as high as ?4,500, meaning an overall total of ?10,000 is up for grabs. Part-time pupils can get less.

The tuition cost loan is compensated straight to your university, distribute similarly throughout the years. In the event that tuition charge for the program is greater than the most loan quantity, you’re going to have to make within the distinction.

Your program: This must certanly be very first Master’s program. It should be a master that is full-time programme (up to 2 yrs in total) or even a taught postgraduate diploma programme of up to twelve months payday loans in Pennsylvania in total.

Your nationality and residency: you really must be a British nationwide (or have settled status), and now have been surviving in Scotland for 3 years as soon as your course begins. You need to be usually residing in Scotland (therefore n’t have relocated here merely to study) and aged under 60 in the very first time of one’s very first year that is academic.

Wales

Pupils beginning a taught or research based Master’s program after 1 Aug 2019 can make application for a loan that is combined grant worth around ?17,000, to pay for program costs and living costs.

You can get the postgraduate Master’s loan of up to ?13,000, to cover course and living costs if you started your course before 1 Aug 2019. This can be well worth up to ?10,280 if you began early in the day.

Your program: you should be enrolled for a stand-alone Master’s course well worth 180 credits (talk to the college if you are uncertain). It may be taught or research based and examined, and must certanly be supplied by way of a UK-based college.

Your nationality and residency: you truly must be a British nationwide (or haven’t any limitation to the length of time you are able to normally stay surviving in Wales (so not need relocated here to examine), and now have been staying in the united kingdom for 36 months whenever your program begins.

If you are an EU national residing in Wales as soon as your program begins, you have resided within the EU for the last 3 years, and you should study at a Welsh college, it’s also possible to qualify.

Northern Ireland

Northern Ireland delivers a tuition charge loan as much as ?5,500 to perfect’s pupils. Payments are created right to your college, and distribute across your course, if you’re learning for 2 years, you’ll receive ?2,750 each educational 12 months.

If for example the tuition cost is more than the most loan amount, you will need to spend the huge difference yourself. Keep in mind you cannot make an application for additional money than your tuition cost expenses.

Your program: you need to be learning for the Master’s (taught or research), postgraduate certification or postgraduate diploma supplied by a British college.

It is possible to use also you won’t be able to apply for another loan once you’ve received one from any government authority in the UK if you already have a Master’s or higher education, but.

Your nationality and residency: you really must be a UK nationwide (or don’t have any limitations to the length of time you are able to remain), have now been located in great britain when it comes to 3 years before your program begins and typically surviving in Northern Ireland (therefore n’t have relocated here to analyze) from the very first day of one’s course.