Postgraduate master's loans
Master's loans are available to students who wish to complete a master's degree. You will receive one loan to cover both course fees and living costs. The loan will be paid directly to you.
If you normally live in England, you can get up to £12,858.
If you normally live in Wales, you can get up to £19,255.
You must:
- Be a UK national or Irish citizen
- Have settled status under the EU settlement scheme
- Have indefinite leave to stay
- Not have completed a master's degree before (including an integrated master's)
- Not have a qualification that's higher than a master's degree
Your course must be:
- A full, standalone master’s course (not a top-up course)
- At least 180 credits
Check the full eligibility criteria for England on GOV.UK and for Wales on Student Finance Wales.
Choose the amount to borrow
You can choose the amount to borrow for your master's loan. You will need to cover both course fees and living costs with this loan. You should consider this when choosing how much to borrow. Most students take out the full amount.
Living costs
The majority of your master's loan will probably be spent on course fees. For example, full-time postgraduate fees for UK students are £9,450 at the University of Lancashire. If you're from England and take out the full loan amount, that means you'll only have £3,408 to cover living costs for the duration of the course.
Most postgraduate students will need to consider alternative ways to cover their living costs. This includes a part-time job, savings or help from family.
Postgraduate doctoral loans
Doctoral loans are available to students who complete a doctoral course, like a PhD. You will receive one loan to cover both course fees and living costs. This will be paid directly to you.
If you live in England, you can get up to £30,301.
If you live in Wales, you can get up to £29,130.
You must:
- Be a UK or Irish citizen
- Have settled status under the EU settlement scheme
- Have indefinite leave to stay
- Be under 60 years old on the first academic day of your course
- Have lived in the UK for 3 years in a row before the start of your course
Your course must be:
- A full, standalone doctoral degree
- Three to eight academic years long
- Provided by a UK university with research degree awarding powers
Choose the amount to borrow
Just like a master's loan, you can choose how much to borrow for your doctoral loan. Remember that you will need to cover both your course fees and living costs. This is why most doctoral students take out the full amount.
Living costs
The majority of your doctoral loan will probably be spent on course fees. You'll need to consider alternative ways to cover your living costs. Due to the length of study, many doctoral students work part-time alongside their studies.
PGCert and PGDip funding
Postgraduate Certificate (PGCert) and Postgraduate Diploma (PGDip) are shorter postgraduate qualifications. A PGCert is only 60 credits and a PGDip is 120 credits. These qualifications are not covered by postgraduate loans. You will need to find another way to finance these.
Some employers might pay for you to complete a PGCert or a PGDip if it is relevant to your role. You should focus on how this will benefit the business when you discuss this with your employer.
Some charities or trusts might also pay for all or part of your qualification. This course normally aligns with their cause.
You could also fund it yourself through savings or a private loan. You can often pay your fees in full or across three instalments. Make sure you check how to pay your fees at your university.
Studentships, scholarships and bursaries
You should also look into studentships, scholarships, bursaries and alumni discounts that can help to fund your postgraduate study. Find out which is most suitable for you:
Visit our studentships or scholarships and bursaries webpages to find out more.
Where next?
We hope this has helped you understand how postgraduate loans work. Take a look through our postgraduate courses and further resources below.
