Student Finance England master's loan applications are now open for courses starting from September 2020.
Student Finance England is providing postgraduate loans for English domiciled students starting a master's level course at any UK university (including Swansea) from September 2020.
You could borrow up to £11,222 towards the costs of postgraduate study, including tuition fees and living costs (paid directly to you).
You can get the Postgraduate Master’s Loan if all of the following apply:
- you’re a UK or EU national (settled or pre-settled status), or have ‘settled status’, so there are no restrictions on how long you can stay
- you normally live in England, and did not move there just to study
- you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years before starting your course
- be a full, standalone master’s course (not a top-up course)
- be worth at least 180 credits - please check with our Admissions team if you're unsure.
- have started on or after 1 August 2016
Your course can be taught or research-based.
It can be:
- full-time, lasting 1 or 2 academic years
- part-time, lasting 2 to 4 academic years - no more than twice the length of the equivalent full-time course
- part-time for up to 3 years, where no equivalent full-time course exists
Examples of eligible postgraduate master’s qualifications at Swansea include:
- MSc (master of science)
- MA (master of arts)
- MPhil (master of philosophy)
- MRes (master of research)
- LLM (master of law)
- MBA (master of business administration)
You cannot get a Postgraduate Master’s Loan for a postgraduate certificate or diploma.
If you are intending to complete doctoral study with the support of a PhD loan after your master’s degree, your course must be a full standalone PhD programme, and not ‘topped up’ from a master’s qualification such as Master’s by Research or MPhil.
You must be under 60 on the first day of the first academic year of your course.
You will not be able to get a Postgraduate Master’s Loan if:
- you’re already getting payments from student finance for another course that you’re studying
- you received a Postgraduate Master’s Loan before - unless you left your course due to illness, bereavement or another serious personal reason
- you already have a master’s degree, or a qualification that’s equivalent or higher
- you’re behind in repayments for any previous loans from the Student Loans Company
You’ll still be eligible if you have a PGCE or a postgraduate diploma or certificate. You will not get extra money if you repeat a year of your course.
- Repayments begin when you are earning over £21,000 per year. Repayments will be 6% of your income over this amount (undergraduate loans are paid back at 9% of income).
- If you have an undergraduate loan from the Student Loans Company, you will pay this back at the same time as the postgraduate loan. As an example, if you are earning £25,000 per year, this will equate to a total repayment of £50 per month (£30 UG loan and £20 PG loan).
Visit Student Finance England for more information. You can also learn more about the postgraduate loan scheme by attending one of our Postgraduate Open Days.
Student Finance England master's loan applications are now open for courses starting from September 2020. Start your online application now.