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Are there loans available for UK MA degrees?

Mon 04 May 2020

Are there loans available for UK MA degrees?

Depending on where you live in the UK, you could be eligible for a master's loan to help you pay for some or all of your course fees. You could also apply for a student loan to help you with your everyday living costs while you study.

Here’s a guide to UK master's loans:

 

England

If you live in England, a Master’s Loan can help you pay for your course fees, plus your living expenses. If you’re a student with a disability, you can also apply for extra financial help with your studies.

A Master’s Loan in England lets you apply for up to £11,222 towards your course fees and living costs, for courses starting on or after 1 August 2020.

Will I be eligible?

To be eligible to apply for a Master’s Loan, you need to:

  • Study a research-based or taught full-time or part-time masters course, with a minimum of 180 credits. This includes distance learning courses.
  • Be under 60 years old on the first day of the first academic year of your masters course.
  • Meet specific nationality and residency conditions.
  • Make sure you haven’t already received funding for previous masters courses. If you have, you might still be eligible to apply if you didn’t complete the course because of serious reasons, like an illness or a bereavement.

Find out more on the gov.uk website.

 

Scotland

If you live in Scotland, you could be eligible for a postgraduate tuition fee loan. This can cover some or all of your tuition fees for your full-time master's course, up to a maximum of £5,500.

Will I be eligible?

To be eligible for a postgraduate tuition fee loan, you need to:

  • Study for a postgraduate diploma (PGDip) or a master's degree.
  • Study a research-based or taught course at a publicly-funded university. This includes distance learning courses.
  • Study for a full-time PGDip of a maximum duration of 1 year, or a full-time master's degree of a maximum duration of 2 years.
  • Meet specific residency conditions.
  • Make sure you haven’t already received a master's loan from the UK or EU for previous postgraduate courses. If you have, you may still be eligible to apply for only the living cost loan.

Find out more on the Student Awards Agency Scotland website

 

Wales

If you live in Wales, you can apply for Postgraduate Master's Finance.

With Postgraduate Master’s Finance, you could be eligible to apply for up to £17,000 as a combination of a grant and a loan, depending on your income.

Your options include:

- A maximum grant of £6,885 and a loan of £10,115 if your household income is £18,370 or below

- A grant of £1,000 and a loan of £16,000 if your household income isn’t taken into consideration, or is above £59,200.

Will I be eligible?

To be eligible for Postgraduate Master’s Finance, you need to:

  • Meet specific nationality and residency conditions.
  • Be under 60 years old on the first day of the first academic year of your master's course.
  • Study a research-based or taught full-time or part-time master's course, with a minimum of 180 credits. This includes distance learning courses.
  • Make sure you haven’t already received funding for a previous master's course.

Find out more on the Student Finance Wales website.

 

Northern Ireland

If you live in Northern Ireland, you could be eligible for a Tuition Fee Loan.

The Tuition Fee Loan can cover some or all of your course fees, up to a maximum amount of £5,500. How much you can get depends on the cost and duration of your masters course.

Will I be eligible?

To be eligible for a Tuition Fee Loan, you need to:

  • Meet specific nationality and residency conditions.
  • Study for a full-time or part-time postgraduate certificate (PgCert), postgraduate diploma (PgDip), or master's degree. This includes distance learning courses.
  • Study a research-based or taught postgraduate course at a publicly-funded university. This university can be anywhere in the UK.
  • Make sure you haven’t already received a loan for previous postgraduate studies. If you have, you could still be eligible if you didn’t complete the course because of serious personal reasons.

Find out more on the Student Finance Northern Ireland website.

 

Falmouth Flexible offers online masters courses that are eligible for funding if you live in the UK. 

Get in touch with our team to find out everything you need to know about funding options and the application process:  

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