Postgraduate Master's Loan
Prospective PG students (inc. current UG): available
Current PG students: not available
Entry year: 2019/20
Postgraduate taught: available
Postgraduate research: not available
About the loan
A Postgraduate Master's Loan is funding from Student Finance to help with your course and living costs whilst studying a postgraduate Master’s level course. It’s paid directly to you, and isn’t based on your income or the income of your household.
A Postgraduate Master’s Loan may affect any benefits you currently get.
You will be due to start repaying your loan the April after you finish or leave their course. Interest is charged on the loan from the day the first payment is made until it is paid off in full or canceled.
To apply for a Postgraduate Master’s Loan you must:
- be a UK or EU national or have settled status (this means you have no restrictions on how long you can stay in the UK)
- normally live in England
- have been living in the UK for at least three years before the first day of the first academic year of your course
If you're an EU national and have been living in the EEA or Switzerland for at least three years before the start of your course, you'll also be able to apply for a Postgraduate Master’s Loan.
You may also be able to apply for a Postgraduate Master’s Loan if you are:
- a member of the Armed Forces, or a relative of someone in the Armed Forces and studying on a distance learning course at a UK university whilst you're posted abroad,
- a refugee, or a relative of one,
- under Humanitarian Protection, or a relative of someone under Humanitarian Protection,
- 18 or over and have lived in the UK for at least 20 years or at least half yourlife,
- an EEA or Swiss migrant worker, or a relative of one,
- the child of a Swiss national, or
- the child of a Turkish worker.
You must be under 60 on the first day of the first academic year of your course to get a Postgraduate Master’s Loan.
If you have a loan from a previous undergraduate course, it won’t affect your eligibility for a Postgraduate Master’s Loan.
You can only get a Postgraduate Master’s Loan if you don’t already have an equivalent Master’s qualification or a higher-level qualification such as a PhD.
MAs from Scottish universities, the University of Oxford, the University of Cambridge or Trinity College Dublin are at a lower level than a postgraduate Master’s qualification. If you have an MA from one of these universities, you may be able to get a Postgraduate Master’s Loan.
If you take a Postgraduate Master’s Loan for a course but don’t complete it, you won’t be able to get a second Postgraduate Master’s Loan. However, if you have to withdraw from their course for compelling personal reasons, such as illness, you may still be able to apply for another Postgraduate Loan.
The course you're studying must be in the UK and be a full postgraduate Master’s course of at least 180 credits leading to a qualification such as:
- Master of Science (MSc)
- Master of Art (MA)
- Master of Philosophy (MPhil)
- Master by Research (MRes)
- Master of Law (LLM)
- Master of Business Administration (MBA)
A Postgraduate Master’s Loan is not available to students wanting to ‘top up’ a lower-level qualification to a Master’s degree. The course must be a full standalone master’s course.
You can’t get a Postgraduate Master’s Loan for certain postgraduate courses, such as PgCert (Postgraduate Certificate), PgDip (Postgraduate Diploma), or where the postgraduate course is funded by undergraduate student finance, such as:
- Integrated Master’s
Your course can be studying at the university in person or by distance learning, and your course can be:
- a full-time course lasting one or two academic years,
- a part-time course lasting two academic years that has a one year full-time equivalent,
- a part-time course lasting three or four academic years that has a two year full-time equivalent, or
- a part-time course lasting up to three years that has no full-time equivalent.
Any student who started a course in academic year 2016/17 then transferred to a university from academic year 2017/18 which doesn’t have degree awarding powers, will remain eligible for the Postgraduate Master's Loan.
- British Antarctic Territories
- British Indian Ocean Territory
- British Virgin Islands
- Cayman Islands
- Cyprus (European Union)
- Czech Republic
- Falkland Islands (Malvinas)
- French Guiana
- Ireland, the Republic of
- Mayotte (French Territorial Collectivity)
- Northern Ireland
- Pitcairn, Henderson, Ducie and Oenno Islands
- St Helena, Ascension and Tristan da Cunha
- Turks & Caicos Islands
Payment amount & frequency
You can borrow up to £10,906 for your postgraduate course.
The total amount you borrow will be paid evenly over the length of your course.
For example, if you apply for the maximum amount of Postgraduate Master’s Loan and study over four years, you'll get £2,652 in each year of your course.
Payments are made directly to the student after your course start date, once the University of Bradford confirms that you have registered.
You must have a UK bank or building society account in your own name.
The loan will be split equally and be paid in three instalments each academic year.
Your entitlement letter will tell you how much you'll get and when you should expect each payment. You can also view their payment dates on their online Student Finance account.
If you leave your Master's course early, Student Finance will stop any future payments.
A Postgraduate Master's Loan has to be repaid and interest will be charged from the day the first payment is made to the student. Interest will be charged at the Retail Price Index (RPI) plus 3%. RPI is a measure of UK inflation and measures changes to the cost of living in the UK.
You'll be due to start making repayments the April after you finish or leave your course. You will only start repaying when your income is over £21,000 per year.
How to apply
You only need to apply once for the Postgraduate Master's Loan as the application and funding is for the whole of your course. If you're studying over two or more academic years, you'll get a letter before the beginning of each year confirming your payments for the upcoming academic year.
The quickest way a student to apply for a Postgraduate Master's Loan is online at www.gov.uk/postgraduateloan.
When to apply
You should apply as soon as possible so your money is ready in time for the start of your course.
You must apply no more than nine months after the first day of the first academic year of your course if you're studying a one-year course. Or, if your course is longer than one year, no more than nine months after the first day of the second year of your course.
The first day of the academic year is:
- 1 September, if your course starts between 1 August and 31 December
- 1 January, if your course starts between 1 January and 31 March
- 1 April, if your course starts between 1 April and 30 June
- 1 July, if your course starts between 1 July and 31 July
Find out more
For more information, visit www.gov.uk/postgraduateloan.