When you apply to do a postgraduate degree, you are eligible for a non-means tested tuition fee loan of up to £10,280. In order to be considered, you need to meet the following criteria:
Masters loans are available for students who have lived in the EU for at least three years before the start of the course. They are not available for international students.
You only start repaying your postgraduate loan, at 6% of your income, once you’re earning £21,000 per annum. This threshold is frozen, meaning it’s guaranteed to remain at this level until 2021.
You will start repaying your loan, assuming you are earning a minimum of £21,000 per annum, from April after the completion of your course. Your payments will be made alongside any outstanding undergraduate loan repayments at an interest rate of Retail Price Index (RPI) +3%.
Your loan will be written off if you haven’t repaid the full amount after 30 years from the date you started accruing interest.
Important: if you already hold a postgraduate masters qualification (including an integrated masters qualification such as MPharm), you will not be eligible for another masters loan.
Visit the government’s student loan website for the most up to date information.
If you have any further questions please email the Admissions team at email@example.com, or call on 0207 531 7333.