To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

Masters Loan Scheme

What is the Masters Loan Scheme?

Loans are now available for many of our Masters courses. Eligible courses starting in the 2020/21 academic year will allow eligible students to apply for up to £11,222. The loans, for both taught and research Masters degrees, will be available for a number of our full-time, part-time and distance learning courses, across all disciplines and subject areas. Further details on the new loans and if you are eligible can be found below.

To Get a Masters Loan:

  • You have to be studying a taught or research Masters course.
  • You must study the whole course - i.e. you cannot claim exemption from any module as a result of credit gained through Recognition of Prior Learning (RPL) or be studying a Masters course as a ‘Top-up’ to a Postgraduate Certificate or Postgraduate Diploma course you completed previously.
  • You must not already have a Masters degree or higher qualification.
  • You must be under 60 at the start of the first academic year of your course.
  • You must normally live in England*. 
  • You can be studying at a university or college or by distance learning.

If you’re studying full-time your course can last for one or two years. If you’re studying part-time you can study for two years (for the equivalent one year full-time course) or up to four years (for the equivalent two year full-time course) so long as you study 50 per cent of the intensity of the equivalent full-time course. 

*If you are a UK student, however EU students may also be eligible for the loan. You can check the full criteria on the website.

What can I get?

You can apply for a loan of up to £11,222 as a contribution towards your course and living costs. Your payments will be spread out across the length of your course and will be paid into your bank account in three installments each academic year.

When can I apply?

Applications for the Masters Loan for 2020/21 entry is now open.

If you’ve taken out a loan with Student Finance England before you can use your account to apply. If you don't have an account you will need to set one up. You can find out more at You’ll only have to apply once, even if your course is longer than one year.

Will I be charged interest on my loan?

Interest is charged at the Retail Price Index (RPI) plus three per cent from the day we make your first payment until your loan is paid in full.

How do I repay my loan?

Repayments will be based on your income, not what you borrow.

If you’re studying full-time you’ll start making repayments the April after you finish or leave your course. If you’re studying part-time you’ll start making repayments the April two years after the start of your course or the April after you finish or leave your course, whichever comes first.

However, no repayments towards Masters Loans will be taken before April 2021 and only when your income is over the current threshold of £404 a week, £1,750 a month or £21,000 a year.

For example, if you’re paid monthly and earn £2,500 before tax you’ll repay six per cent of the difference between what you earn and the threshold (£1,750):

£2,500 - £1,750 = £750

Six per cent of £750 = £45

So your Postgraduate Loan repayment would be £45 that month.

What if I already have a student loan?

If you’ve had any other loans from the Student Loans Company for your undergraduate course, you’ll also repay these loans. For example if you took a loan for your undergraduate course that started after 1 September 2012, you’ll repay nine per cent of your income over £21,000 towards that loan and six per cent of your income over £21,000 towards your Masters Loan. So you’ll repay 15 per cent of your income over the threshold in total.

Income each year (before tax)  Monthly salary  Undergraduate loan repayment* Postgraduate Loan repayment 
£21,000  £1,750  £0 £0
£25,000 £2,083 £30 £20
£30,000 £2,500 £67 £45
£35,000 £2,916 £105 £70
£40,000   £3,333 £142 £95
£45,000 £3,750 £180 £120

*If you’re repaying a student loan for your undergraduate course that started on or after 1 September 2012.

Masters loan availability

The government-backed loans will be available for many of our Masters courses. Courses and modes of study that qualify are listed below. If your course is not listed but you believe it should be, please contact Please be aware, when you apply for a loan, any full-time course in excess of one year (such as 15 or 18 months) must be entered as a two-year course.

The Department of Health will no longer fund tuition fees through Health Education England or bursaries through the NHS BSA to new students on Postgraduate Healthcare courses studying in England. Instead, English-domiciled students new to a Postgraduate Healthcare course in 2020-21 will be eligible for the standard, undergraduate package of support. For more information please click here

Plus Icon Architecture and Landscape Design
Plus Icon Counselling, Psychological Therapies and Mental Health
Plus Icon English Language Teaching
Plus Icon Leadership, Governance and People Management
Plus Icon Social Work
Plus Icon Research Degrees

The following research based postgraduate degrees are eligible for loans:

  • MAR Accounting and Finance
  • MAR Art, Architecture and Design
  • MAR Biomedical Sciences
  • MAR Business
  • MSCR Business
  • MSCR Built Environment and Engineering
  • MAR Computer Science and Engineering (Full-time)
  • MSCR Computing and Creative Technologies
  • MAR Cultural Studies and Humanities
  • MSCR Education and Childhood
  • MAR English
  • MSCR Events, Tourism and Hospitality
  • MAR Film, Music and Performing Arts
  • MSCR Health and Community Care (Part-time)
  • MSCR Health and Community Studies
  • MAR History (Part-time)
  • MAR Human Resource Management and Organisational Behaviour
  • MAR Law
  • LLMR Law
  • MAR Marketing, PR and Communications
  • MSCR Marketing, PR and Communications
  • MAR Psychology (Full-time)
  • MSCR Physical Education (Full-time)
  • MSCR Rehabilitation and Health Sciences
  • MSCR Social, Psychological and Community Studies
  • MAR Sociology
  • MAR Speech and LanguageSciences (Full-time)
  • MSCR Sport
  • MAR Sport Coaching (Part-time)
  • MAR Sport and Exercise Psychology (Full-time)
Back to Top Button