If youre starting a masters degree, you could get a postgraduate master s loan to help with course fees and living costs. Get a quick eligibility decision on your future finance application. Postgraduate student loans in the uk complete university guide. You can get funding for postgraduate study through loans, studentships, bursaries and grants you might also get help from your employer. The interest rates for plan 2 repayments are based on the retail prices index plus a variable rate dependent on income. Postgraduate masters loans loans available to masters students to help cover. Students from the eu and from overseas are not eligible to apply. A full or part time uk undergraduate or postgraduate student with home fee paying status. Postgraduate numbers in the uk have continued to grow amid these. Student and postgraduate loans posted 22042020 if you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the april after you have finished your studies or when your income begins to exceed the annual threshold. Funding for postgraduate loans is different if you normally live in scotland, wales or northern ireland. Student and postgraduate loans cameron baum infozone. They are available to help students meet their expenses while they are studying. Youll only need to start paying back your postgraduate student loan when youre earning.
It is hmrcs responsibility to collect repayments if you are working in the uk. To help you get started, heres everything you need to know about postgraduate student loans. Private student loans for undergraduates and postgraduates. Student and postgraduate loans april 22, 2020 if you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the april after you have finished your studies or when your income begins to exceed the annual threshold. You only need to apply once for the postgraduate masters loan, even if your course is longer than one year. Postgraduate student loans for masters moneysavingexpert. The loans will be available to students resident in england studying in the uk and eu students taking taught courses at. Masters students can apply for student loans company loans of up to. A postgraduate masters loan can help with course fees and living costs while you study a postgraduate masters course. Including loans, bursaries, grants, student finance and paying back loans. Student finance england will write to you in the summer to tell you how much youll.
Student and postgraduate loans 22 apr 2020 if you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the april after you have finished your studies or when your income begins to exceed the annual threshold. You can also get extra support if you have a disability. Will postgraduate loans win tory support from students. Funding for postgraduate study get undergraduate student finance. If you drop below this threshold at any point, youll stop making payments. For masters courses, see funding postgraduate study. Remember to set aside money for insurance, clothes, toiletries, books, course materials, printing. Postgraduate loans are available throughout the uk but with different amounts of postgraduate funding in england, wales, scotland and northern ireland, and. Student loans are part of the governments financial support package for students in higher education in the uk. Repayments will be taken directly out of your wages, on an incomecontingent basis at a rate of 6%. A postgraduate master s loan can help with course fees and living costs while you study a postgraduate master s course.