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- Student Loans
Best Graduate Student Loans
Best graduate student loans of august 2024.
Updated: Aug 7, 2024, 2:59pm
As a graduate student, you have the option to take out federal direct unsubsidized loans, graduate PLUS loans or private student loans. Federal direct unsubsidized loans generally have both the lowest interest rates and the most flexible repayment options. But you can only borrow up to $20,500 per year in direct unsubsidized loans, and some students need to borrow more than that. Below we have identified the best federal and private loan options for graduate students based on features like fees, repayment options and ease of the application process. Several lenders offer specialized loan programs for those pursuing a master of business administration (MBA), law or medical degree; for this list, we compared only generalized graduate degree loans for master’s or Ph.D. students in other fields. Annual percentage rates (APRs) and account details are accurate as of August 7, 2024. Related: Compare Personalized Student Loan Rates
- Best Private Student Loans
- Best Student Loan Refinance Lenders
- Best Low-Interest Student Loans
- Best Parent Student Loans
- Best Student Loans Without Co-Signer
Tips for Comparing Graduate Student Loans
Summary: best graduate student loans, methodology, what is a graduate student loan, how do student loans work for graduate school, types of graduate school loans, how to apply for student loans for graduate school, alternatives to graduate student loans, next up in student loans.
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- 14 enders researched
- 12 data points evaluated
- 6 cateogires scored
Ascent Graduate Student Loan
Variable APR
7.84% to 16.20%*
4.79% to 15.41%*
7 years, 10 years, 12 years, 15 years or 20 years (medical and dental loans only)
Loan terms : 7 years, 10 years, 12 years, 15 years or 20 years (medical and dental loans only)
Loan amounts available : $2,001** up to total cost of attendance, to a maximum of $400,000 (aggregate)
Eligibility : Student borrowers with no credit history can qualify with a creditworthy co-signer. Co-signers must show income of at least $24,000 for the current and previous year. Co-signers must have a minimum credit score which can vary.*
Forbearance o ptions : When experiencing financial hardship, borrowers can suspend payments for up to three months at a time, for a total of up to 24 months throughout the loan term. Only four rounds of forbearance (up to 12 months’ worth) may be taken consecutively.
Co-signer release policy : Available after 12 months of consecutive automatic debit payments, if the primary borrower meets certain credit score requirements.
*Disclosures
*Other eligibility requirements apply. Learn more at AscentFunding.com/BorrowerBenefits.
**The minimum amount is $2,001 except for the state of Massachusetts. Minimum loan amount for borrowers with a Massachusetts permanent address is $6,001.
***Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit: AscentFunding.com/Ts&Cs . Rates displayed above are effective as of 8/5/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits . The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
5.74% to 14.48% *
with autopay and rate sale discount
4.74% to 14.48% *
SoFi is perhaps best known as a student loan refinance lender, but it also makes loans to undergraduates, graduate students, law and business students and parents. Its undergraduate student loan product offers mostly industry-standard features, plus a few perks: no late fees, an interest rate discount of 0.125% if your co-signer already uses another SoFi product.
- Access to SoFi member benefits
- No late fees
- Interest rate estimate available without undergoing a hard credit check
- Maximum APR above 12%
Loan terms : 5, 7, 10 and 15 years.
Loan amounts available : $5,000 up to total cost of attendance (no aggregate limit listed).
Eligibility : Does not disclose credit score or income requirements.
Forbearance options: Qualified borrowers can take up to 12 months total forbearance.
Co-signer release policy : Available after 24 payments.
Federal Direct Unsubsidized Loan
Among graduate student loan options, federal direct unsubsidized loans are the best overall deal: Their fixed interest rate is one of the lowest you’ll find, and this type of loan isn’t credit-based and doesn’t require a co-signer. All eligible graduate borrowers qualify, and they receive the same rate regardless of credit history.
While there’s a chance the most creditworthy borrowers could get a lower interest rate with a private student loan, they’ll miss out on a range of consumer protections that might be useful in the future. Borrowers of federal direct unsubsidized loans have access to income-driven repayment options that can lower the amount due and loan forgiveness for those who work in public service fields.
Direct unsubsidized loans come with an origination fee of 1.057%, while most private graduate loans do not. But in many cases, the low interest rate and loan benefits make the fee worth it.
- Low fixed interest rate
- Multiple repayment and forgiveness options available
- No co-signer required in order to get lowest rate
- Charges an origination fee
Loan terms: Terms of 10 to 25 years are available, depending on the repayment plan.
Loan amounts: Loan amounts up to $20,500 per year and $138,500 in aggregate are available , including loans used for undergraduate study.
Eligibility: You must be enrolled at least half-time in a school that participates in the federal direct loan program.
Forbearance options: Forbearance available for up to three years in certain circumstances. Enrolling in an income-driven repayment program can lower monthly payments and result in loan forgiveness after 20 to 25 years.
Co-signer release policy: N/A
Federal Graduate PLUS Loan
(graduate school only)
The federal graduate PLUS loan also offers wide-ranging benefits to borrowers, but fewer than direct unsubsidized loans offer. Since borrowing limits are higher for PLUS loans than direct unsubsidized loans, they’re an option to cover any funding gaps after you’ve maxed out direct unsubsidized loans for graduate study.
The graduate PLUS interest rate is slightly higher than the unsubsidized loan rate; the origination fee—4.228%, which comes out of the loan amount that’s disbursed to you—is much higher. PLUS loans are also the only federal loan type that require a credit check, but it’s possible to get a PLUS loan even if you’re determined to have an adverse credit history (more on that below).
- High maximum loan amount
Loan terms: 10 to 25 years, depending on the repayment plan
Loan amounts available: Up to total cost of attendance , minus other financial aid received
Eligibility: Must be enrolled at least half-time in an eligible school. Must not have an adverse credit history.
Co-signer release policy: None
7.74% to 16.10%*
5.04% to 15.41%*
Ascent offers both co-signed and non-co-signed student loans, which gives borrowers without co-signers more college funding options.
Ascent stands out for its range of payment reduction and postponement options, rare among private lenders. Borrowers can choose a graduated repayment plan, which provides a lower monthly payment to start that increases over time. That can be useful for graduates just starting out, who will likely make more money as they move up in their careers.
Borrowers also can pause payments if they’re experiencing a temporary financial hardship for one to three months at a time, up to a maximum of 24 months total. (Taking this forbearance means you will repay the loan over a longer period, though.) Interest continues to accrue during forbearance, which is true for the vast majority of private student loans.
Ascent also offers a graduation reward of 1% cash back on the loan’s original principal balance. Check the conditions you must satisfy to qualify.
- Both co-signed and independent loans available
- International and DACA students can qualify with a co-signer who has
- U.S. citizenship or permanent residency
- Maximum fixed APR is above 12%
Citizens Bank
5.99% to 16.60%
3.99% to 15.60%
Citizens Bank provides an additional 0.25% loyalty discount if a student loan borrower or their co-signer has an existing account with the bank. (Checking and savings accounts are only available in Connecticut, Delaware, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.)
It also makes its loans available to international students. But co-signers must wait a longer period of time to be released from the loan than what many other lenders provide.
- International students can qualify with a co-signer who has U.S. citizenship or permanent residency
- Up to 0.50% interest rate discount available for existing Citizens Bank customers
- Co-signer release after 36 months, about 12 months later than many other lenders’ policies
Loan terms: 5, 10 and 15 years
Loan amounts available: $1,000 to $350,000 (depending on degree)
Eligibility: Does not disclose credit score or income requirements.
Forbearance options: Up to 12 months of forbearance available.
Co-signer release policy: Co-signers can be released from the loan after 36 payments.
College Ave
5.59% to 17.99%
with auto-pay discount*
3.87% to 17.99%
College Ave offers a solid all-around private loan product with a few unique features. Borrowers can choose an eight-year term, which is in addition to the typical five-, 10- and 15-year terms many lenders provide. Borrowers can also access an extended six-month grace period beyond the initial payment-free six months allowed after separating from school.
- Long time period (210 days) before unpaid loans go into default
- Relatively high APR
Loan terms: 5, 8, 10 and 15 years
Loan amounts available: $1,000 up to 100% of the school-certified cost of attendance
Eligibility: Applicants must have a minimum credit score in the mid-600s.
Forbearance options: Up to 12 months of forbearance is available, in three- to six-month increments
Co-signer release policy: Available after 24 payments
* Borrowers with a co-signer who choose the shortest repayment term available and who make full monthly payments while in school qualify for the lowest rates.
1 – College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or Nationwide Bank, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
2 – All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
3 – Cover up to 100% of your cost of attendance as certified by your school and less any other financial aid you might receive. Minimum $1,000.
5.65% to 15.49%
4.15% to 13.99%
PNC Bank offers an extra-generous 0.50% interest rate discount for making automatic payments, and it provides a 12-month loan modification program for borrowers in financial distress (in addition to 12 months of forbearance). Loan modification lowers the interest rate and monthly payment charged.
It also offers co-signer release, though after an even longer period than Citizens Bank’s policy: 48 months.
Loan amounts available: Up to $65,000 to $105,000 with an overall maximum limit of $105,000
Co-signer release policy: Co-signers can be released from the loan after 48 payments.
Rhode Island Student Loan Authority
4.05% to 8.64%
Rhode Island Student Loan Authority, known as RISLA, is a nonprofit based in Rhode Island that lends to students across the country. It offers two different loan types for undergraduate students, which each come with their own fixed interest rates. One loan requires immediate repayment, and one lets you defer payments until six months after you leave school. Everyone who qualifies for each of the loan types gets the same rate, which makes it easy to compare RISLA loans with others you’ve qualified for.
For borrowers who struggle to afford their loan after graduating, RISLA is one of the only private lenders to offer an income-based repayment plan, which limits payments to 15% of income for a 25-year period.
RISLA was a winner of Forbes Advisor’s best private student loans of 2020 awards. Learn more here .
- Borrowers may qualify for multi-year financing after applying once
- No late payment or returned payment fees
- Reduced payments and forbearance available for hardship
- Loan cap of $50,000 per year
- Borrowers (or co-signers) need a minimum income of $40,000
Loan terms 10 and 15 years
Loan amounts available $1,500 to $50,000 per year, with a $180,000 aggregate limit per borrower.
Eligibility Applicants or co-signers must show a minimum income of $40,000 per year and a minimum credit score of 680.
Forbearance options Forbearance available for up to 24 months.
Co-signer release policy Co-signer release is available after 24 consecutive months of on-time payments. Periods during which borrowers use income-based repayment do not qualify.
Prodigy Finance
Minimum Variable APR
Many international students don’t qualify for federal student loans, and they typically need a U.S. citizen co-signer in order to get approved for a private student loan. Prodigy Finance is a London-based company that offers private student loans to international master’s students without requiring a co-signer.
You must attend an eligible school in one of the 18 countries Prodigy Finance lends in. All interest rates are variable, meaning they can change with market conditions, and borrowers receive rate offers based on their course of study and future earning potential. The average rate, according to Prodigy Finance, is 7.3%. The loan comes with a 4% administration fee.
Prodigy Finance doesn’t lend to U.S.-based borrowers living in these states: Alabama, Arkansas, Connecticut, Delaware, Hawaii, Idaho, Indiana, Iowa, Maine, Michigan, Mississippi, Minnesota, Montana, Nevada, New York, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington, West Virginia and Wyoming.
- No co-signer required
- Available to international students
- Multiple hardship repayment options available
- Only variable interest rates available
- High minimum APR
Loan terms: 7 to 20 years
Loan amounts available: $15,000 minimum; maximum amount based on individual application.
Eligibility: Must be a resident of an eligible state and country attending an eligible school either part-time or full-time
Forbearance options: Available for nine months. Borrowers with financial hardships may apply for an interest-free payment arrangement; those facing low incomes, medical emergencies, unexpected family responsibilities or unemployment can apply for $0 or reduced payments.
Co-signer release policy: N/A
5.37% to 14.97%
3.99% to 14.48%
Sallie Mae graduate loans offer loans from $1,000 up to the total cost of attendance. You’ll pay no origination fee or penalty for paying off your loan before its due date. What’s more, you’ll receive a 0.25% rate discount when you enroll in autopay.
Borrowers can qualify for a Sallie Mae graduate loan even if they’re attending school less than half-time, which not all lenders allow. After graduation, borrowers also have access to a few hardship repayment programs beyond forbearance, including a rate reduction or one year of interest-only payments.
Sallie Mae’s graduate loan offers a comparatively short time period—12 months—after which primary borrowers can apply to release their co-signers.
- No origination fee
- Co-signer release available after 12 monthly payments
- Students must apply for a new loan each school year
- No rate estimate available with soft credit check
Loan terms: Terms up to 15 years are available.
Loan amounts: Loan amounts of $1,000 up to the total cost of attendance are available.
Eligibility: Borrowers are eligible if they’re attending full-time, half-time or less than half-time.
Forbearance options: Sallie Mae offers a six-month grace period and 48 months of deferment.
Co-signer release policy: Co-signer releases are available after 12 on-time monthly payments.
5.89% to 15.97%
(includes .25% auto pay discount)¹
3.89% to 14.30%
Earnest offers a fee-free private loan option—no origination fees and no late fees—and borrowers have the ability to skip² one monthly bill every year, in addition to applying for standard forbearance when necessary. Borrowers have multiple repayment terms to choose from, and graduate students receive a nine-month grace period³ before they must make payments after graduation, which is longer than the typical six-month grace period.
Earnest doesn’t have a co-signer release program. That means borrowers who use a co-signer must keep that person on the loan unless they refinance it into their own name.
- 9-month grace period for graduate students
- Option to skip one payment per year
- No co-signer release program
Loan terms: 5, 7, 10, 12 or 15 years ⁴
Loan amounts available: $1,000 up to total cost of attendance (no aggregate loan amount listed).
Eligibility ⁵ : Students must be attending school at least half-time. International students can apply with a U.S. citizen co-signer.
Forbearance options: Available for up to 12 months throughout the loan term
Disclosures
¹You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
²Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
³Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
⁴Earnest’s Loan Cost Examples: These examples provide estimates based on principal and Interest payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $118.28) and a 11.69% APR would result in a total estimated payment amount of $21,290.40. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $126.82) and a 13.03% APR would result in a total estimated payment amount of $22,827.79.
These examples provide estimates based on interest only payments while in school. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $145.41) and a 11.69% APR would result in a total estimated payment amount of $26,173.03. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $156.59) and a 13.03% APR would result in a total estimated payment amount of $28,186.67. Your actual repayment terms may vary. Other repayment options are available.
These examples provide estimates based on fixed $25 payments while in school. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $169.92) and a 11.69% APR would result in a total estimated payment amount of $30,584.74. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $188.42) and a 13.03% APR would result in a total estimated payment amount of $33,915.55. Your actual repayment terms may vary. Other repayment options are available.
These examples provide estimates based on deferred payments. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $174.79) and a 11.69% APR would result in a total estimated payment amount of $31,462.16. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $193.75) and a 13.03% APR would result in a total estimated payment amount of $34,874.28. Your actual repayment terms may vary. Other repayment options are available.
⁵Loan Eligibility criteria: Eligible students must: 1) For college Freshmen, Sophomores and Juniors, attend, or be enrolled to attend, a Title IV school full-time. For college Seniors and Graduate students, attend, or be enrolled to attend, a Title IV school at least half-time; and 2) be pursuing a Bachelor’s or Graduate degree. Earnest private student loans are subject to credit qualification, completion of a loan application, verification of application information, self-certification of loan amount, and school certification.
Responsible borrowing tip: Explore all scholarship, grant and federal options before applying for a private loan.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107
Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support From Navient Solutions, LLC (NMLS #212430). One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
© 2024 Earnest LLC. All rights reserved.
Federal direct unsubsidized student loans are a strong option for graduate students because they don’t require a credit check or a co-signer.
If you need more money for school than what unsubsidized loans provide, you might turn to graduate PLUS loans, which require a credit check. But there are specific negative marks the government is looking for. You’ll be considered to have “adverse credit history” if you have one or more of the following on your credit report:
- Debts totaling more than $2,085 that are at least 90 or more days past due or that were in collections or charged off in the past two years
- Default determination within the past five years
- Bankruptcy within the past five years
- Foreclosure within the past five years
- Repossession within the past five years
- Tax lien within the past five years
- Wage garnishment within the past five years
- Charge-off of a federal student aid debt within the past five years
But if you learn you have an adverse credit history after you apply, you can explain the circumstances that led to it and the government could determine that you’re eligible for a PLUS loan after receiving loan counseling. Another option is to get an endorser, similar to a co-signer, that can help you qualify.
Some borrowers might qualify for a lower rate on a private graduate student loan than on a PLUS loan. But when comparing interest rates among private lenders, know that only the borrowers with the highest credit scores, least outstanding debt and strongest incomes will get the lowest rates. For graduate students, that often means using a co-signer. All private student loan rates listed on this page also include a standard 0.25% interest rate discount for using automatic payments.
It’s best to identify the interest rate and terms you’d receive on a private loan, then compare the overall cost and features with those of a PLUS loan. A student loan calculator can help you determine how much you’ll pay over time.
| Company | Company - Logo | Forbes Advisor Rating | Forbes Advisor Rating | Variable APR | Fixed APR | Learn More CTA text | Learn more CTA below text | Learn More |
|---|---|---|---|---|---|---|---|---|
| SoFi® | 5.0 | 5.74% to 14.48%* | 4.74% to 14.48%* | On SoFi's Website | ||||
| Federal Direct Unsubsidized Loan | 5.0 | N/A | 8.08% | |||||
| Federal Graduate PLUS Loan | 5.0 | N/A | 9.08% | |||||
| Ascent Graduate Student Loan | 4.0 | 7.74% to 16.10%* | 5.04% to 15.41%* | Via Credible.com's Website | ||||
| Citizens Bank | 4.0 | 5.99% to 16.60% | 3.99% to 15.60% | Via Credible.com's Website | ||||
| College Ave | 4.0 | 5.59% to 17.99% | 3.87% to 17.99% | On College Ave's Website | Go to Lender Site | |||
| PNC Bank | 4.0 | 5.65% to 15.49% | 4.15% to 13.99% | Read Our Full Review | ||||
| Rhode Island Student Loan Authority | 4.0 | N/A | 4.05% to 8.64% | Read Our Full Review | ||||
| Prodigy Finance | 3.0 | 13.29% | N/A | Read Our Full Review | ||||
| Sallie Mae | 3.0 | 5.37% to 14.97% | 3.99% to 14.48% | On Sallie Mae's Website | ||||
| Earnest | 3.0 | 5.89% to 15.97% | 3.89% to 14.30% | Via Earnest's Website |
| Direct unsubsidized loan | Grad PLUS loan | Private loan | |
|---|---|---|---|
| Eligibility | Be enrolled at least half-time and meet | Be enrolled at least half-time, pass a credit check and meet general federal lending requirements | Typically must have good credit, have consistent income, be a U.S. citizen and be enrolled in an eligible school |
| Credit check? | No | Yes | Usually yes |
| Interest rate for 2022-23 | 6.54% | 7.54% | Varies; highly qualified borrowers may receive lower rates than what’s offered on federal loans |
| Origination fee for 2022-23 | 1.057% | 4.228% | Usually none |
| Borrowing limit | $20,500 annually, $138,500 lifetime limit | Up to total cost of attendance minus any other financial aid you’ve received | Usually up to the total cost of attendance |
| Co-signer allowed? | No | Yes | Yes |
| £3,000 - £30,000 | |
| £3,000 - £6,000 | |
| £15,000 - £40,000 | |
| Up to £9,250 |
To find out up to date costs for degrees that you are interested in, have a browse using our Course Search feature, which can sort courses from the lowest to highest if you’re looking to find an affordable master’s course.
Next: Search for postgraduate courses
Alongside tuition fees, postgraduate students will also need to take into account the associated living costs for the years they will be studying. This will include things like rent, bills, food, travel and course materials, among others. The cost of living will depend on where in the country you live as rent can vary between cities, and some degrees can require you to buy more course materials than others. It’s wise to put together a realistic budget for living costs and plan your monthly expenses accordingly, which could include the items on this list below below...
- Rent + Bills
- Course materials
- Travel
- Entertainment
- Clothes
A note on Council Tax – as a student, you shouldn’t have to pay it. However, if you live with non-students or with a partner and you want to contribute to the Council Tax bill (bear in mind you don’t legally have to), you should double check that your property is in the right band to avoid unnecessary costs.
There are several options available for postgraduate students when it comes to funding their education. This includes loans from the government specifically for postgraduate students, a range of bursaries and scholarships, employee sponsorships, crowdfunding and even salaried teacher training courses. Previously, the Professional and Career Development Loan scheme was a popular route for postgraduate students, but the government closed applications for it in 2019.
Postgraduate Loans
In 2016, the government introduced loans for students looking to embark on postgraduate studies. This began with the Master’s Loan and continued with the Doctoral Loan introduced in 2018. These are not means-tested loans, and they are paid directly to the student. They can be used to pay for course fees and living costs.
For the Master’s Loan , students can get up to £11,836 for courses that start after 1 August 2022. The loan will be paid in three installments over the academic year (or equally divided across each year of your course if it is longer than one year). You must be taking a full, standalone master’s course worth at least 180 credits, and it can be a taught or research-based master’s.
For the Doctoral Loan , students can get up to £27,892 for courses that start after 1 August 2022. The loan will be divided equally across each year of your course. You must be taking a full, standalone doctoral course, and it can be a taught or research-based course (or a combination of the two).
There are other requirements that you must fulfil to be eligible to receive a postgraduate loan from the government, details of which you will be able to find on the gov.uk website.
Similar to the standard undergraduate degree loan, students will have to start repaying their postgraduate loan once they begin to earn an income over a certain threshold.
Go to: Read more about Loan Options for Postgraduate Students
Bursaries and Scholarships
Bursaries and scholarships are also popular for students looking to make postgraduate education more affordable. The names are sometimes used interchangeably, and they can be quite similar, though getting a scholarship is usually a competitive process, while bursaries are available to any student that qualifies for them. However, neither scholarships nor bursaries have to be repaid.
When looking for bursaries or scholarships, the first place you’ll want to look is the university. There will often be university-wide bursaries as well as department-specific bursaries, depending on your subject and/or circumstances. Some postgraduate courses come with a certain number of scholarships attached.
Most universities also offer discounts on postgraduate courses for alumni. If you have completed an undergraduate degree at a university, you could consider staying on or returning to take advantage of this discount. However, your course is an investment; evaluate the department and the reputation of the course carefully and don’t be enticed solely by cost.
Next: Search for bursaries and scholarships
If you're looking to become a teacher, you might be eligable for a bursary from the government depending on the subject you want to teach. You'll need a 2:2 or higher bachelor’s degree, a master’s or a PhD in the subject to qualify for the bursary, alongside some more terms and conditions which are available on the gov.uk website. The subjects and bursary can be found on the table below...
| Chemistry | £27,000 |
| Physics | £27,000 |
| Computing | £27,000 |
| Maths | £27,000 |
| Languages | £25,000 |
| Geography | £25,000 |
| Biology | £20,000 |
| Design and Technology | £20,000 |
| English | £15,000 |
There are also scholarships available for people looking to become teachers in certain subjects, offered by other independent institutions. Students will need to apply directly to the institution for these scholarships, and meet the institution's critera. The subjects, scholarship amounts and institutions are listed on the label below...
| Chemistry | £29,000 | The Royal Society of Chemistry |
| Computing | £29,000 | BCS, The Chartered Institute for IT |
| Maths | £29,000 | The Institute of Mathematics and its Applications |
| Physics | £29,000 | The Institute of Physics |
| Languages* | £27,000 | The British Council |
*French, German and Spanish only
Go to: Read more about How to Fund a PGCE
The NHS provides a Learning Support Fund as additional funding for students on pre-registration postgraduate courses for a number of subjects. Eligible students can get a training grant of £5,000 per academic year which is not means-tested and does not need to be repaid. You’ll have to reapply for the training grant for each academic year of your study. The Learning Support Fund can be received by students studying for the following courses:
- Dental Hygiene or Dental Therapy (level 5 or 6 courses)
- Dietetics
- Midwifery
- Nursing (adult, child, mental health, learning disability, joint nursing and social work)
- Occupational Therapy
- Operating Department Practitioner (level 5 or 6 courses)
- Orthoptics
- Orthotics and Prosthetics
- Paramedic Science (DipHE and FD courses are not eligible for NHS LSF)
- Physiotherapy
- Podiatry or Chiropody
- Radiography (diagnostic and therapeutic)
- Speech and Language Therapy
Students can also receive a Specialist Subject Payment of an additional £1,000 aper academic year if they are studying one of these particular courses:
- Mental Health Nursing
- Learning Disability Nursing
- Radiography (Diagnostic and Therapeutic)
- Prosthetics and Orthotics
- Orthoptics and Podiatry
The Learning Support Fund features more funding alongside the training grant. There is a £2,000 annual Parental Support grant for students who have parental responsibility for a child. The Travel and Dual Accommodation Expenses to help pay for excess travel and accommodation for students undertaking clinical placements for their practical training. The Exceptional Support Fund also provides funding for students facing unforeseen financial difficulties.
The NHS can also provide a bursary for postgraduate students who are studying an approved Social Work course, comprised of a non-means-tested basic grant and a means-tested maintenance grant.
You can also look further afield for bursaries and grants, as various charities, trusts, and societies across the UK will offer them to students studying in related subjects, since it is in their interest to further research in that area or train more individuals to work in the sector. Explore the established groups that exist in and around the subject you are looking to study to see if there is funding available to you.
For example, The Royal Geographical Society supports fieldwork projects with grants for master’s and PhD students. Cancer Research UK also supports PhD students looking to help make medical breakthroughs in the line of research. The Scott Trust offers multiple bursaries each year for students looking to take an MA in journalism.
Several societies and trusts offer scholarships to members of under-represented groups to support academics from all backgrounds and build diversity of ideas in sectors that need it. Some companies will even work with the universities themselves to help establish these scholarships and bursaries, so get in touch with the institutions you’re interested in to see if they have any funding that you can receive.
For example, the Windsor Fellowship works with the likes of UCL, DeepMind, Cancer Research UK and Visa to offer scholarships for students from under-represented communities for a variety of postgraduate courses. The Miranda Brawn Diversity Leadership Scholarship offers funding for future diversity leaders, complete with mentoring and training.
You may be able to access funds from a local council or charity where you live, or where you will be living during your studies. Often small towns and rural communities have charities and hardship funds where money goes unclaimed. If you can demonstrate that you were, or are, a contributing member of the community, and that you are hoping to further your education and job prospects, you may be able to secure a financial contribution. Reaching out to your local council to see what is available should form part of your university funding research.
The Disabled Students’ Allowance (DSA) can be used by postgraduate and undergraduate students to support with study-related costs. Students can get up to £25,575 in the 2022 to 2023 academic year to help meet disability-related costs of studying, which can include paying for specialist equipment, non-medical helpers and extra travel expenditure.
Eligible students may be asked to book a needs assessment to determine what will be needed for their courses. The DSA does not need to be repaid. You’ll be able to find more information, including eligibility criteria, on the gov.uk website.
The Ministry of Defence aims to promote "lifelong learning amongst members of the Armed Forces" with its Enhanced Learning Credits Scheme (ELC). This scheme provides financial support for a maximum of three separate years to contribute towards the costs of a degree with a qualifying institution. The ELC can be claimed by personnel who have recently left or serving members of the Armed Forces depending on their eligibility.
Research Councils are publicly funded bodies that exist to further research in various academic fields and subject areas. Part of their role is to fund PhD and master’s students. Your university applies for funding, and courses or subjects that have received grants from research councils should advertise this when prospective students are researching courses or applying. You will then have to apply to the department or school, so it varies from university to university as to the competition and application requirements.
If you are interested in completing a postgraduate course to advance your career prospects in the organisation you work for, it’s worth asking if the company will sponsor you in some way. Some businesses will have official schemes in place for this, but if there is no official scheme, it’s up to you to negotiate an arrangement and hope that your employer will see the potential.
Whether you are planning to do a part-time course, either in attendance or through distance learning, or take time out to complete a full-time course, you need to think about the logistics and the terms of your employment. Ensure you are clear on any agreements you make with your employer when arranging your sponsorship, as some agreements may require you to return funds used for your course should you leave the company within a specified period.
If you need to provide an argument for why your employer should sponsor your education, think about presenting how it will help your contribution to the business, how it fits in with your long-term development goals at the organisation and the value it could add to the company.
Next: Read more on Balancing Work and Study on an MBA
Part-time work can help contribute towards living costs while studying for your postgraduate degree. Many places will have part-time jobs, but we also recommend looking to find a part-time job at your university. Whether it’s acting as an ambassador for open day, helping with administration tasks or shifts working at the Students’ Union, they will respect that you are there first and foremost for your education.
You should speak to your tutor prior to finding part-time work to check whether they think you will have enough time to make it a realistic option. Depending on how intense your course is, it may get in the way of assignments and/or increase your stress levels.
Next: Read more on Does Postgraduate Study Mean Giving Up Work?
If you are looking for further assistance paying for your tuition fees or living costs, you may want to consider crowdfunding as an option. Appealing to friends, family, and strangers the internet will not be the dependable method for raising the full amount needed for your degree, but combined with other funding routes, crowdfunding a small portion of the money needed can help make progressing through your studies much more achievable from a financial standpoint.
Websites like GoFundMe and Crowdfunder can be used to host your crowdfunding campaigns, though be aware that they will charge fees for using their service. You can use social media platforms like Twitter and Instagram to get the campaign out into the world and post updates. Marketing is a vital part of crowdfunding, as it will allow you to show why taking your postgraduate degree is important. Try to think about how your study will help develop not only your prospects, but also a particular field or specific community.
Alongside the funding options available, many students will also be looking for ways to save money while studying for their postgraduate degree. With that in mind, we’ve put together a handy selection of tips to help you look after your money at university.
Graduate Accounts
The first place to start is your bank account. As obvious as it sounds, having the right account with benefits tailored to graduates is essential when assessing your funding options for postgraduate study. Some graduate accounts will offer an interest-free overdraft for up to three years, which is useful for clearing your overdraft debt without adding to it in the meantime.
You may want to stick with the bank where you had your student account, but it is worth your time looking around to see what features the graduate accounts from other banks have. This can include different sizes and lengths of overdraft, along with other freebies.
A huge number of shops and brands will offer student discounts, which can really help to save you money. You’ll usually need to show your student ID or provide your university email address to benefit from student discounts. There are also student discount cards available, like the TOTUM card (previously known as the NUS Extra card), which have even more exclusive deals to offer.
Many shops will also have loyalty cards for you to use when you shop to collect points or get money off your purchases. This includes the likes of the Tesco Clubcard, Nectar Card, and the Boots Advantage Card. These cards are almost always free and can be used online and in person, so they’re worth picking up if you regularly shop at these places.
If you need to travel by train frequently, take a look at the selection of Railcards available from National Rail. Many of these, like the 16-25 or the 26-30 Railcard, can let you get 1/3 off train tickets across the country. Students in London can also get an 18+ Student Oyster Photocard to save 30% on Travelcards and Bus and Tram Pass season tickets.
Some universities will offer various incentives to encourage students to travel by bike, including free bike checks. If you already have a bike, or can find a good student discount on one, this can help you save money on train and bus tickets throughout your studies.
Cooking food with housemates is a good way to save money, as these meals will often work out to be cheaper than cooking just for yourself. Plus, you’ll get to spend time with your housemates, and if you’re in student accommodation, this is a great way to make friends.
Similarly, cooking in bulk and freezing portions to eat for the next couple of days is another good way to save money on ingredients, with the added benefit of saving you time in the evenings. You can find plenty of recipes on the internet for bulk cooking, and there are even cookbooks dedicated to bulk cooking, too.
Student discounts will once again be your friend should you need to eat out, as a host of restaurants will have some tasty student deals. You may also find that some student discount cards also come with access to a Tastecard, which can get you exclusive deals in all sorts of restaurants and cafes.
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- Postgraduate loans
Fees and funding
- UCAS Conservatoires tuition fees and finance
If you’re thinking of starting a master's course, you could be eligible for a loan from the UK Government of up to £11,295 to help with course fees and living costs.
- You can apply for this new postgraduate loan now.
- You can use it however you like – either towards your tuition fees, living costs, or other costs associated with your postgraduate study.
- The loan is not means tested.
- It will be paid directly into your bank account in three instalments during the academic year.
- If your course is longer than one year, the loan will be divided equally across each year of your course.
- If you study part-time, you can only get payments in the first two years of your course.
- You’ll repay the loan once you’ve finished or left your course, and are earning over £21,000.
Am I eligible for the loan?
You will be eligible for this loan if you:
- are a British citizen, or have been ordinarily resident in England for three years on the first day of your course
- are under 60 years of age on the first day of your course
- are studying a taught or research master’s course
- don't already have a postgraduate master's qualification, or another higher level qualification, such as a PhD
You may also be eligible for this loan if you are:
- an EU national, but don’t currently live in the UK
- a refugee, or a relative of one
- under Humanitarian Protection, or a relative of someone who is
- an EEA or Swiss migrant worker, or a relative of one
- the child of a Swiss national
- the child of a Turkish worker
Having a loan or loans from a previous undergraduate course will not affect your eligibility for a postgraduate loan.
Read the full eligibility criteria and regulations
Which courses are eligible?
The course must be in the UK and must lead to a master's qualification. You can study either at the course provider, or by distance learning. Postgraduate loans are not available for postgraduate level courses such as PgCert, PgDip, or where the course is funded by undergraduate student finance, such as Initial Teacher Training (ITET).
If you're not sure the course you're interested in is eligible for the loan, check with the course provider directly.
If you're studying full-time, your course can last for one or two years. If you're studying part-time, your course can last for up to two years for the equivalent of a one year full-time course, up to four years for the equivalent of a two year full-time course, or up to three years where there's no equivalent full-time course.
How do I apply?
You can apply at www.gov.uk/postgraduateloan now. You should apply as early as possible to make sure your loan is ready for the start of your course. As with applying for undergraduate student finance, you don't need a confirmed place in order to apply.
Before you apply, make sure you've got the following to hand:
- valid UK passport (if you have one)
- course provider and course details
- bank account details
- National Insurance number – if you don't have one, you might need to provide proof that you are actively trying to obtain one
You don't need to complete your loan application all in one go – you can save your progress and go back at any time to complete it.
Remember to print your student declaration form, sign, and return it . If you're asked to provide any evidence or supporting documentation, send it as quickly as possible to avoid delays with your application.
If your personal details, course, or course provider change, let Student Finance England know before the start of your course – find out how to do this by signing in to your account at www.gov.uk/postgraduateloan .
Once your application is complete, Student Finance England will assess it and send you an entitlement letter, confirming how much you'll get. They will also send you a payment schedule to let you know when you'll be paid. You will have to register at your course provider and start your course before the first payment can be made.
How do I repay the loan?
If you're studying full-time, you'll start repaying your loan the April after you finish or leave your course. If you're studying part-time, you'll start making repayments the April two years after the start of your course, or the April after you finish or leave your course, whichever comes first. No repayments will be taken before April 2019 .
You will only make repayments once your income is over £21,000 a year (£1,750 a month, or £404 a week), and you'll repay 6% of your income over £21,000. Interest on your loan is charged at the Retail Price Index (RPI) plus 3% from the day of your first payment, until your loan is fully repaid.
Your repayments will be made to the Student Loans Company (SLC), and will be collected through the UK tax system, either:
- through PAYE, where repayments are collected by your employer in the same way as income tax and National Insurance, or
- through Self Assessment if you are self-employed
At the end of the tax year, you'll receive a statement letting you know how much of your loan you've repaid. HMRC will let your employer know when to stop taking repayments from your salary.
If you're planning to work or travel abroad for more than three months after you finish or leave your course, you need to let Student Finance England know so they can arrange for you to make repayments.
Any loan remaining 30 years after you're due to start making repayments will be written off.
Support for disabled students
If you are also applying for a Disabled Students' Allowance (DSA), you will need to complete a DSA1 application form, and provide supporting evidence. Student Finance England will send you the form if you specify on your main loan application that you want to apply for a DSA. You can also download the form from www.gov.uk/postgraduateloan . It can take up to 14 weeks to process a DSA application, so make sure you send your application as soon as possible.
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Postgraduate loans for doctoral students
If you’re coming to Manchester this year to begin or continue postgraduate doctoral research, you could qualify for a loan from the UK government.
The maximum loan available for those starting a programme on or after 1 August 2024 is £29,390. Applications are open now.
This postgraduate student loan is paid directly to you and is non-means tested. The loan is a contribution towards the cost of study and is unlikely to fund the full cost of your doctoral studies. You will need to research how to fund any shortfall.
The information on this page is about the loan available to English students studying in the UK. There are similar funding arrangements for UK students resident in Wales; apply online at Student Finance Wales . Students ordinarily resident in Jersey , Guernsey and the Isle of Man may also be eligible for support.
Eligibility
To apply for a postgraduate doctoral loan, you must:
- be a UK or Irish national or have settled or pre-settled status under the EU Settlement Scheme or indefinite leave to remain so there are no restrictions on how long you can stay;
- normally live in England;
- have been living in the UK, the Channel Islands, the Isle of Man or Ireland for three continuous years before the first day of your course, apart from temporary absences such as going on holiday;
- UK applicants from Northern Ireland, Wales, Scotland, Channel Islands or the Isle of Man who move to England solely for the purpose of attending the course will not be eligible.
If you’re an EU national or a family member of an EU national
You may be eligible if you’re an EU national or a family member of an EU national, and all the following apply:
- you have settled status under the EU Settlement Scheme;
- you’ve normally lived in the UK, Gibraltar, EU, Switzerland, Norway, Iceland or Liechtenstein for the past three years (this is also known as being ‘ordinarily resident’);
- you’ll be studying at a university or college in England.
You could also be eligible if you’re:
- the child of a Swiss national and you and your parent have settled or pre-settled status under the EU Settlement Scheme;
- a migrant worker from the EU, Switzerland, Norway, Iceland or Liechtenstein with pre-settled status, or a family member of a migrant worker where both have pre-settled status;
- a resident of Gibraltar who is a UK or EU national, or their family member.
You may also be eligible with another residency status. See the gov.uk website for full details.
You must be under 60 on the first day of the first academic year of your course to get a postgraduate doctoral loan.
Previous study
If you have a loan from a previous undergraduate course or postgraduate master’s course, it won’t affect your eligibility for a postgraduate doctoral loan.
You can only get a postgraduate doctoral loan if you don’t already have an equivalent doctoral qualification or a higher-level qualification such as a PhD.
If you borrow a postgraduate doctoral loan for a course but don’t complete it, you won’t be able to get a second postgraduate doctoral loan. However, if you have to withdraw from your course for compelling personal reasons, such as illness, you may still be able to apply for another postgraduate doctoral loan.
Other eligibility
You won’t be able to get a postgraduate doctoral loan if you are getting any Research Council funding.
Course eligibility
The course you’re studying must be a full postgraduate doctoral course leading to a qualification such as:
- subject specialist doctorates: a formal programme of study such as a PhD;
- integrated subject specialist doctorates: a supervised research project undertaken alongside a more structured taught course, or may depend on successful completion of taught elements and be undertaken in later years. Integrated doctorates normally offer exit awards at master's level based on successful completion of taught course units (students must register for the doctoral degree at the outset to be eligible for a postgraduate doctoral loan);
- professional and practice-based doctorates: post-experience qualifications aimed at mid-career professionals, for example, an Engineering Doctorate (EngD).
A postgraduate doctoral loan isn't available to students wanting to ‘top up’ a lower-level qualification to a doctoral degree. Your course must be a full standalone doctoral course. The loan is available whether you are studying your course in person or by distance learning, and your course can be:
- a full-time course lasting at least three years;
- a part-time course lasting up to eight years.
How to apply
You only need to apply once for the postgraduate doctoral loan, as the application and funding are for the duration of your course. If you’re studying over three or more academic years, you’ll get a letter each year confirming your payments for the upcoming academic year.
The quickest way to apply for a postgraduate doctoral loan is online. If you’ve taken out a loan with Student Finance England before, use your account to apply . If you do not already have one, you can create an account .
If you can’t apply online, you should download a paper application form .
When to apply
You should apply as soon as possible so that the Student Loans Company can contact you if they need any further information or evidence. You must apply no more than nine months after the first day of the last academic year of your course.
Please note if you apply after your first year, you might not get the maximum loan amount.
When you’re paid
You get the first payment after your course start date, once your university or college confirms that you’ve registered.
The loan will be paid in three instalments of 33%, 33% and 34% each year. After your application has been approved you’ll be sent a letter with your payment dates or you can check them in your online account.
The repayment threshold currently stands at £21,000, and repayment amounts are 6% of income above the relevant threshold. For full details on repayment of student loans please visit the gov.uk website .
Find out more
Find out more about the Doctoral Loan on the UK government website.
Go to gov.uk
- FindAMasters
- Postgraduate Loan – A Guide for 2024
Postgraduate Masters Loan – A Guide for 2024
Written by Mark Bennett
You may be able to get a postgraduate student loan from Student Finance England of up to £12,471 to help pay for a Masters degree. The money is paid to you and only needs to be repaid when you're earning over £21,000 a year.
This loan is sometimes referred to as the 'postgraduate loan', the 'English postgraduate loan', the 'Masters loan', the 'postgraduate student loan' and the 'postgraduate Masters loan'. As long as it's talking about the UK Government loan for England, it's the same thing.
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On this page
| Postgraduate student loans for Masters degrees in all subjects. | |
| Up to £12,471 in 2024-25. | |
| UK nationals resident in England / people with EU settled status or indefinite leave to remain, resident in England. | |
| Any UK university. | |
| 6% of income over £21,000. | |
| . |
You can borrow up to £12,471 with an English postgraduate student loan for a Masters degree starting in 2024-25. This amount was £12,167 for the 2023-24 academic year.
The money will be paid directly to your bank account to use for tuition fees and / or living costs. You do not get a maintenance loan for a Masters.
Payments are divided equally across your course and paid in three instalments per academic year .
You'll get:
- 33% at or near your course start date (once your university confirms your registration)
- 33% on the last Wednesday of the 4th month of your course
- 34% on the last Wednesday of the 7th month of your course
The exact value of each instalment depends on how much loan you request and how long your course is. Student Finance England will write to you to confirm when instalments are due.
Masters loans aren’t means-tested . You can borrow the same amount regardless of your income or savings.
Students who have already started a Masters can borrow slightly less:
- £10,906 for Masters that started in 2019-20
- £11,222 for Masters that started in 2020-21
- £11,570 for Masters that started in 2021-22
- £11,836 for Masters that started in 2022-23
- £12,167 for Masters that started in 2023-24
You can only have one postgraduate loan, but you can combine this support with other postgraduate funding .
Can you get a maintenance loan for a Masters?
No, you do not get a maintenance loan for a Masters. The Masters loan system works differently to undergraduate student finance, which does have a maintenance element. Postgraduate student finance is provided as one loan to help with tuition and / or living costs.
Frequently asked questions
Got another question about the postgraduate loan amount or payment process? Check if we've answered it below!
Is the loan amount linked to my tuition fees?
The value of an English postgraduate loan isn't linked to tuition fees. You can borrow up to the maximum regardless of how much your Masters costs.
What if the loan isn't enough?
The cost of a Masters varies and your postgraduate loan isn’t guaranteed to cover all of your tuition fees and / or living costs. Instead the money is offered as a ‘contribution to the cost’ of a Masters. However, you can combine a postgraduate loan with some other funding .
What if my course costs less than £12,167?
You can still borrow up to the maximum amount. The remaining money can be used for accommodation, living expenses or other things – it’s up to you.
Do I have to borrow the full amount?
You can borrow anything between £1 and the maximum.
Can I combine a loan with other funding?
Masters loans are compatible with most other postgraduate funding including charitable grants and university scholarships .
Exceptions apply if you are already receiving (or about to receive) other public funding for your Masters (money provided by the UK Government). This includes NHS bursaries and Research Council studentships .
Can I change the amount I borrow?
You can use a loan request form to can change your postgraduate loan amount at any point up to nine months from the first day of your final academic year.
Can I still receive Disabled Students’ Allowance if I have a postgraduate loan?
Yes. Eligibility (and payments) for Disabled Students’ Allowance (DSA) are separate from postgraduate student loans.
Will the loan amount change?
Yes. The maximum value of a postgraduate Masters loan increases with inflation each year, but the rise only applies to new students.
When will I receive my postgraduate loan?
You’ll receive your first payment soon after your university confirms your attendance on your course. The money will be paid directly into your UK bank account .
What happens if I'm paid too much?
You should notify Student Finance England immediately if your postgraduate loan is overpaid. This could happen if you withdraw from your Masters without notification and continue to receive loan instalments when you aren’t studying.
Overpayments may need to be paid back directly, rather than through the normal income-contingent repayment system.
Eligibility
The English postgraduate loan is available to UK students , provided you meet the following eligibility criteria:
- Nationality and residency (UK) – You must be a UK citizen (or have leave to remain in the UK), be ordinarily resident in England (you can’t have moved there just to study) and have lived in the UK, Channel Islands or Isle of Man during the previous three years.
- Age – You must be under 60 (aged 59 or younger) on the first day of the first academic year of your Masters. For courses starting in the Autumn term this will normally be 1st September.
- Previous qualifications – You can't already have a Masters or a higher level qualification (like a PhD).
You may also be eligible for a loan if one of the following applies:
- You are an Irish national
- You or a family member have been granted refugee status or humanitarian protection in the UK
- You are 18 or over and have lived in the UK for at least 20 years and / or half of your life
There is helpful advice on the UKCISA website if you aren't sure about your eligibility as a non-UK student.
If you’re a UK student who normally lives in another part of the UK, you'll need to apply for a different postgraduate loan .
Brexit and eligibility for the postgraduate loan
If you’re an EU, EEA or Swiss national beginning a Masters in England from August 2021 onwards, you will only be eligible for a postgraduate loan if you have EU settled or pre-settled status .
Postgraduate loan eligibility for Ukrainian students
Ukrainian students may be eligible to apply for a postgraduate loan if they've been granted residence in the UK under one of the following schemes:
- the Ukraine Family Scheme
- the Homes for Ukraine Sponsorship Scheme
- the Ukraine Extension Scheme
If this applies to you, you can apply for a postgraduate loan without having lived in the UK during the previous three years, as long as:
- You will be ordinarily resident in the UK on the first day of course
- You have been living in the UK since you were granted residence
- You meet all other personal and course eligibility requirements
You will also be eligible for home fee status .
To find out more, visit the UKCISA website .
Here are the answers to some other common questions about postgraduate loan eligibility.
How will my residency be checked?
You’ll be asked to provide at least three years’ address history during your postgraduate loan application. Student Finance England may query any details that might affect your eligibility.
What counts as being ‘ordinarily resident’ in England?
To be eligible for an English Masters loan as a UK student you must be ordinarily resident in England. This means that England is where you normally live and you haven’t moved there just to go to university.
You will normally count as being ordinarily resident in England if any or all of the following are true:
- You lived in England before you went to university for your Bachelors degree
- You received an undergraduate student loan from Student Finance England
- You have lived and worked in England after graduating from university
What if I have moved from England to another part of the UK for my undergraduate degree?
You will still count as an English-resident if you have studied your undergraduate degree in Scotland, Wales or Northern Ireland and want to continue straight on to a Masters. This means you will be able to apply for an English postgraduate loan.
What if I have moved to England from another part of the UK for my undergraduate degree?
Because you only moved to England to study, your residency status won’t have changed. You will still count as being ordinarily resident in Scotland, Wales or Northern Ireland and should apply for a postgraduate loan from the country you lived in before you went to university.
Are loans available to UK students living in the EU?
Yes, you can get a postgraduate loan if you are a UK national, were living in the EEA or Switzerland prior to 31 December 2020 and will continue to do so prior to the start of your course. You must be coming to study your Masters in England before 1 January 2028. You'll also need to have been living in the EEA, Switzerland, Gibraltar or the UK for the past three years.
What if I work after my undergraduate degree, instead of going straight on to a Masters?
Living and working in a different part of the UK means you aren’t just there to go to university. This can change your residency status.
For example:
- You live in Scotland but go to university in England. After graduating you stay in England to work for several months and eventually decide to study a Masters the following year. You will now count as being ordinarily resident in England and should apply for an English postgraduate loan rather than a Scottish postgraduate loan .
The same would be true for an English student who had lived and worked elsewhere in the UK after graduating.
If you aren’t sure about your residency status, check with Student Finance England .
Can I apply if I’ve lived outside the UK in the last three years?
In order to apply for a loan as a UK student you must have lived in the UK for three years prior to your course. You can travel for holidays or other periods of ‘temporary absence’ from the UK during this period, but you shouldn’t have become ordinarily resident in another country.
Will my credit history be checked?
Postgraduate loans are a student finance product, not a commercial loan. Your personal credit rating and existing debts won’t matter.
The only exception concerns existing arrears with the Student Loans Company. If you owe undergraduate loan repayments that should have been made you won’t be able to apply for a postgraduate loan until these are dealt with.
Will a postgraduate loan affect my benefits?
Postgraduate loans are paid directly to your bank account. This means that they function as a form of income and can affect the amount of welfare support you can claim. You should discuss this with Student Finance England and / or your benefits provider if you aren’t sure.
Can I get a postgraduate loan whilst working?
Yes. You can have a job during your Masters and still access postgraduate student finance.
Can I have more than one student loan at the same time?
You can’t receive student loans for different degrees simultaneously. This means that you can’t apply for a postgraduate loan whilst you’re still getting payments from an undergraduate student loan.
Can I have a second postgraduate loan?
You won’t be able to apply for a new loan if you have already had one for a previous Masters. This applies regardless of whether or not you completed that course.
Similarly, you can't apply for an English Masters loan if you have previously had another UK postgraduate loan . This applies even if your previous loan was for a non-Masters course.
Can I get a loan if I already have a self-funded Masters?
No. Postgraduate Masters loans are only available to people without existing Masters-level qualifications (or higher). Unfortunately you won’t be able to apply if you already have a Masters you paid for yourself.
Can I apply if I already have a Postgraduate Certificate or Diploma?
Yes. You can still apply for a loan for a new Masters degree if you already have a postgraduate qualification below Masters level, such as a PGCert or PGDip .
However, you can’t have a loan to study one of these courses or upgrade an existing qualification to a full Masters.
Can I apply if I already have a PGCE?
Yes. You can still apply for a loan to study a Masters if you already hold a postgraduate teacher training qualification such as a PGCE (provided your course did not award a full 180 credit Masters degree).
Can I get a Masters loan if I already have a PhD?
No. You can’t apply for a loan if you already hold a PhD (or other doctorate). Loans are only available if you don’t already have existing qualifications at Masters level or above.
Can I apply if I've previously started a Masters but didn’t complete it?
Yes. Provided you didn’t graduate with a Masters and didn’t receive a postgraduate loan for it, you can apply for a loan to study a new course.
Can I apply if I already have an integrated Masters?
No. If you have already completed an integrated Masters (a course that began at undergraduate level but eventually awarded a Masters) you won’t be able to receive a loan for a second ‘standalone’ Masters. However, if you did not complete an integrated Masters, you may be eligible for a Masters loan. The Department for Education has clarified that students who accessed undergraduate finance for a Integrated Masters couse but did not achieve the qualification will be eligible for a postgraduate loan for another Masters degree.
Can I apply if I have a ‘conferred’ Masters, such as an ‘Oxbridge MA’?
Some universities, such as Oxford and Cambridge , automatically award their graduates with an MA degree after a certain period of time has elapsed. These degrees don’t require any additional examination and are not separate qualifications. As such, they won’t make you ineligible for a loan to study a postgraduate Masters.
How does the age limit work?
English Postgraduate Masters loans are only available to students under 60. This means you must be aged 59 or younger when your degree starts.
This is based on the first day of the academic year not your enrolment date or the date of your first class, lecture, etc.
The first day of the first academic year is normally as follows:
| 1 August - 31 December | 1 September |
| 1 January - 31 March | 1 January |
| 1 April - 30 June | 1 April |
| 1 July - 31 July | 1 July |
Note that the age limit only applies at the beginning of your course. You will continue to receive your loan after you turn 60, provided you are 59 or younger when your Masters starts.
Are EU, EEA or Swiss students eligible for postgraduate loans?
From the 2021-22 academic year onwards, EU, EEA (Norway, Iceland and Lichtenstein) and Swiss students will usually only be eligible for postgraduate loans if they were living in the UK before 31 December 2020 and have applied for EU settled status.
Are international students eligible for a postgraduate loan?
Students from countries outside the UK and Ireland aren’t normally eligible for postgraduate loans.
Exceptions may apply if you’re an EU national with settled or pre-settled status in the UK, have lived in the UK legally for a very long time, have been granted humanitarian protection or have refugee status.
For more information on UK fees and finance as a postgraduate student we recommend you check the resources produced by the UK Council for International Student Affairs (UKCISA) .
And, if you can't get a postgraduate loan, you might still be eligible for other international Masters funding in the UK .
Repaying your postgraduate loan
Wondering when you'll need to start repaying your postgraduate loan? Our full guide explains how postgraduate loan repayments work , and includes a handy calculator to help you work out how much you'll pay each month.
To get a postgraduate loan your course must be a full postgraduate Masters degree. This means:
- It must be a full degree, not 'topping up' a qualification you already have
- It must be a postgraduate degree, not an integrated Masters or other undergraduate course
- It must be a Masters degree (worth at least 180 credits), not a shorter Postgraduate Certificate or Diploma or a programme that eventually leads to a doctorate
The type of Masters you want to study doesn't matter. You can get a postgraduate loan for an MA, an MSc, an MBA or other postgraduate Masters.
Your course can be a taught or research Masters and you can study it at any UK university (the loans are ‘portable’). You can also study full-time, part-time or by distance learning, subject to the following restrictions:
- Full-time courses can take 1-2 years of study
- Part-time courses can take 1-4 years of study, but can’t last for more than twice the length of an equivalent full-time course (or three years if no full-time equivalent exists)
- Distance learning courses can be full-time or part-time, but you must be living in England on the first day of your course and the rest of your Masters must be studied from within the UK
Please note that if you're an Irish national moving to the UK to study, you'll only be able to use the loan for a course at an English university.
What about subjects?
There are no other subject restrictions for a Masters loan. You can study an MSc in Applied Chemistry, an MA in Ancient History, an MBA in International Marketing – or any other postgraduate courses .
Here are the answers to other questions about the courses you can get a postgraduate loan for.
Can I get a postgraduate student loan for a Masters by research?
Yes. You can receive a loan for a research-based Masters such as an MRes (Master of Research) or MPhil (Master of Philosophy) . However, these courses must lead to a standalone Masters degree and not be part of a longer PhD programme (or other doctorate).
Can I get a postgraduate loan for an MBA?
Yes. You can receive a loan for a specialist business Masters such as a Master of Business Administration (MBA) or Masters in Management (MIM) . Note, however, that these programmes often cost more than the maximum £12,167 you can borrow.
Can I get a postgraduate student loan for an LLM?
Yes. You can receive a loan for a Master of Laws (LLM) .
However, you can’t receive a loan for a shorter Legal Practice Course (LPC) or Graduate Diploma in Law (GDL) unless the qualification forms part of a full Masters degree.
Can I get a postgraduate loan for an integrated Masters?
Masters loans are only available for postgraduate courses , not for four-year integrated Masters (like the MChem, MPhys or MSci) that begin at undergraduate level. These courses are usually eligible for undergraduate student loans instead.
Can I get a loan for an MArch?
The MArch (Master of Architecture) is normally an undergraduate qualification and is eligible for undergraduate student finance. However, you may be eligible for a postgraduate loan if your MArch is a part-time course (and isn’t eligible for an undergraduate student loan).
Can I get a postgraduate loan for a PGCert, PGDip or PGCE?
No. You can’t receive an English Masters loan for a postgraduate qualification below Masters level such as a Postgraduate Certificate (PGCert), Postgraduate Diploma (PGDip) or Postgraduate Certificate in Education (PGCE) .
Can I get a postgraduate loan for a PhD (or other doctorate)?
You can’t apply for a Masters loan to complete a doctoral degree (even if it includes a Masters). However, separate PhD loans have been introduced for English-resident UK students and EU students.
Where can I study?
If you are ordinarily resident in England before your course, you can use your loan to study anywhere in the UK.
If you are an EU student and are ordinarily resident outside the UK, you can only use your loan to study in England.
Can I study at a private university?
You may be able to receive a loan to study a Masters at an alternative provider in the UK, provided it has been granted degree awarding powers or your course has been specifically designated for postgraduate loans.
Your institution should be able to tell you if this is the case.
Can I study outside the UK?
You can’t get a postgraduate loan to study a full Masters abroad, or for a degree awarded by a university outside the UK.
However, you can study part of your Masters in another country, provided this doesn’t account for more than 50% of your course.
Can I transfer between courses and take my loan with me?
You can switch Masters courses and continue to receive your postgraduate loan. This includes changing to a new course at the same university, or moving to a new institution. However, your new course must also be eligible for a loan.
Note that you can only continue your current postgraduate loan when switching courses; you can’t apply for a ‘fresh’ loan to start a different course. This means that switching courses won’t increase the maximum amount you are able to borrow.
Can I repeat a year of my course?
No, you can’t receive postgraduate loan payments to repeat part of your course (even if you haven’t yet borrowed the full amount).
However, it may be possible for your postgraduate loan payments to resume once you have ‘caught up’ with your Masters.
What happens if I take a break or withdraw from my Masters?
Your postgraduate loan will only be paid whilst you are studying. Your university will confirm your attendance at the beginning of each academic year, but you are responsible for informing Student Finance England if you suspend your studies.
If this happens you will stop receiving postgraduate payments, but may be able to resume your loan with your course.
Can I withdraw from my course and get a new postgraduate loan for another Masters?
You can’t normally receive more than one postgraduate loan. However, exceptions may apply if you have compelling personal reasons (CPR) for not being able to complete your original degree.
Compelling personal reasons could include medical issues or a personal crisis that prevents you progressing through your degree. You should contact Student Finance England to discuss your case with them if necessary.
Applications
UK postgraduate loan applications are now open for the 2023-24 academic year. You can apply now online or by post .
Your application will be handled by Student Finance England , on behalf of the Student Loans Company and the UK Government.
The application process is quite simple. If you already have an account with Student Finance England you should use your existing Customer Reference Number (CRN) to login and provide details of your course, your residency information and the amount you wish to borrow.
You don’t need to be accepted for a Masters before you can apply for a postgraduate loan, but you will need to nominate an eligible course (you can change this later if you like). You can read more about the process in our application guide .
The deadline for a postgraduate loan application is quite relaxed: you must apply within nine months of the first day of your final application year. This will normally be as follows:
| 1 August to 31 December | 9 months from 1 September |
| 1 January to 31 March | 9 months from 1 January |
| 1 April to 30 June | 9 months from 1 April |
| 1 July to 31 July | 9 months from 1 July |
You can also change the amount you wish to borrow (up to the maximum) at any point within this period.
When does postgraduate student finance open?
UK postgraduate student loan applications for Masters beginning in the 2023-24 academic year are now open. You can apply now online or by post . Applications for 2024-25 will open in May 2024.
You can start to apply whenever you like, once the applications are open. It's a good idea to apply as early as possible if you definitely want to receive loan payments in time for your course start date. You can also apply later in your degree if you like – it's up to you.
Here are the answers to some more common questions about applying for a postgraduate loan.
Can I use my existing student finance account?
Yes. If you have already have an account with Student Finance England you must use it to apply for your Masters loan.
Do I have to apply online?
No. You can apply by post if you prefer, but online applications are normally faster.
Note that students who have previously received an undergraduate loan from Student Finance Wales, Student Finance Northern Ireland or Student Awards Agency Scotland may need to apply by post for a Masters loan from Student Finance England.
Can I cancel my application?
Yes, you can change your mind before you begin your course (for example, if you decide to start your Masters next year instead) and cancel your application.
Will I still receive the same amount if I apply later in my course?
There is no pro-rata reduction for later Masters loan applications. You can always request the maximum loan amount, provided you do so before the deadline (nine months after the start of your final year).
Can I apply now for a Masters beginning next year?
Postgraduate loan applications re-open for each new academic year. You can apply now for a course that started in 2022-23 (or earlier). Applications for 2023-24 are also now open will open.
Will I definitely get my loan in time?
Loans for September courses should be processed in time if you apply promptly.
What should I do if I'm denied a postgraduate loan?
The first thing to do if your application is refused is to check you definitely meet the eligibility criteria (described further up this page). You should then make sure you have entered all your information correctly, particularly your address history and residency details.
How can I contact Student Finance England about a postgraduate loan?
You can contact Student Finance England in the following ways:
- By phone : 0300 100 0607
- By post :Student Finance England, PO Box 210, Darlington, DL1 9HJ
- On social media : such as Facebook and Twitter
Your postgraduate loan repayments won't start until the April after you graduate .
You’ll then be eligible to make repayments on an income-contingent basis at 6% of what you earn over £21,000 a year.
If you are employed this deduction will be taken automatically by HMRC each month, whenever you earn more than £1,750 (the monthly equivalent of £21,000 per year). If you are self-employed you will need to make student loan repayments as part of your annual tax return.
Postgraduate loan repayments are made in parallel with undergraduate loans . If you have both student loans you will make two repayments as follows:
- 6% of earnings over £21,000 a year for your postgraduate student loan
- 9% of earnings over £25,725 a year for your undergraduate student loan
As well as the money you have borrowed, you will also have to repay interest charged on your loan. This is based on the Retail Prices Index (RPI) +3% and will begin accumulating as soon as you receive your first loan payment.
RPI is recalculated each April based on current inflation measurements. The interest rate for a Masters loan is currently 6.3%, but this changes each year.
The amount you pay each month will not change as the interest rate on your loan rises. Monthly repayments depend on your income, not on interest rates (though the total amount you owe will increase).
Any remaining postgraduate loan debt is written off after 30 years , regardless of how much you have left to pay.
Repayment guides
Looking for more detailed information on postgraduate repayments? Our full guide includes a range of examples, plus a postgraduate loan calculator .
We've answered some common questions about repaying a postgraduate loan.
When do postgraduate loan repayments begin?
You will become eligible to repay your postgraduate loan on the 6th April after your Masters ends. This is called ‘entering repayment’. However, no students will enter repayment until 6th April 2021.
Remember too that you only ever repay your loan when you are earning over £21,000 a year.
Is the repayment threshold rising?
No. The annual repayment threshold for undergraduate loans has risen annually from 2018, but the threshold for postgraduate loans remains at £21,000. Our newsletter updates will let you know if this changes.
Are repayments calculated before or after tax?
HMRC will automatically deduct your postgraduate loan repayment at 6% of your gross income over £21,000 a year (or the monthly equivalent of £1,750). This means that deductions will be calculated before other deductions such as income tax, national insurance and undergraduate loan repayments are taken.
How do repayments work if I am self-employed or work abroad?
You will be responsible for making any repayments that HMRC cannot deduct automatically. This can normally be done through your tax return at the end of the financial year.
Is the interest rate linked to income?
No. Unlike undergraduate loans, interest on postgraduate student loans is the same for all borrowers. It won’t increase if you earn more.
Do I still need to repay my loan if I don't complete my course?
All postgraduate loan payments are subject to the same repayment criteria. You can leave your course and cancel your remaining loan, but you will still be eligible to repay any money you have received so far.
More information
We've tried to make this guide and FAQ as comprehensive as possible, but we'll do our best to help if you've got a question we haven't covered. Simply email [email protected] with your query. You can also sign up for our free weekly newsletter for regular news about student finance changes, applications and deadlines, as well as general funding tips.
Remember that the postgraduate student loan isn't the only way to pay for a Masters. There are a range of other funding options available.
Find your perfect Masters!
Search from over 20,000 Masters degrees on our website to find one that is right for you
Our postgrad newsletter shares courses, funding news, stories and advice
Our guide explains the different postgraduate scholarships available for international students in the UK, as well as overseas eligibility for Masters loans.
Our guide explains how the different UK postgraduate student loan repayments work, with salary examples, FAQs and a handy postgrad loan repayment calculator.
Postgraduate loan applications are open for 2023. This guide explains which Masters loan you should apply for, how to apply, when to apply, and what you'll need to provide.
Our guides cover the different options for funding a UK Masters degree, including student loans and university scholarships as well as part-time work and alternative funding approaches.
Different postgraduate Masters degree loans are available in England, Scotland, Wales and Northern Ireland. Find out which one you're eligible for and what you can get.
You can get Welsh postgraduate funding of up to £18,7700 towards a Masters degree. Our guide explains how this funding works and provides a detailed list of student FAQs.
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- Fees and funding
- Postgraduate doctoral
Postgraduate Doctoral Loan
Loan amount
How to apply, check if you're eligible, eu, other eea and swiss nationals, how the loan is paid, repaying your loan.
If you are a Home student, you can apply for Postgraduate Doctoral Loan from the UK government to help with course fees and living costs while you study a postgraduate doctoral course, such as a PhD.
See an estimate of costs for living in London as an Imperial student.
There’s different funding if you normally live in Wales .
The loan will not be available if:
- you have or will receive Research Council funding which includes stipends and or tuition fee support
- you are receiving a social work bursary
- you are eligible to apply for an NHS Bursary
- you are still studying another course and are in receipt of payments from Student Finance
- you already have a doctoral degree or equivalent/higher qualification
- you are receiving a doctorate by publication
- you are behind in repayments for any previous loans from Student Loans Company
Students studying doctoral courses starting on or after 1 August 2024 can get up to £29,390.
The loan is not means-tested, so it doesn't matter what your household income is.
Back to top of page
Students who normally live in England should apply via Student Finance England.
If you’ve taken out a loan with Student Finance England before, use your account to apply . If you do not already have one, set up an account .
If you're a Home student living elsewhere, you should apply to your regional funding body.
Explore information about eligibility for this loan on Gov.uk.
EU, other EEA and Swiss nationals starting courses on or after 1 August 2021 must have settled or pre-settled status in the UK under the EU Settlement Scheme to be able to apply for this type of financial support.
Visit the EU Settlement Scheme information guide for more information.
This does not apply to students who are Irish citizens living in the UK or Ireland, who are automatically treated as settled in the UK and do not need to apply to the EU Settlement Scheme to benefit from the right to UK student finance.
For full information on the nationality or residency status requirement for this type of financial support, please see the Gov.uk website .
The loan is paid directly to you.
It will be divided equally across each year of your course.
You have to repay your loan, but only once you:
- have left university
- are in employment
- are earning over a certain amount
Find out more about repaying your loans .
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- Education and learning
- Student finance
Doctoral Loan
Eligibility.
Whether you qualify depends on:
- your course
- your nationality or residency status
You will not be able to get a Postgraduate Doctoral Loan if:
- you’ve received or will receive Research Council funding (for example, studentships, stipends, scholarships and tuition fee support)
- you’re already getting a social work bursary
- you’re already getting an Educational Psychology bursary and your course starts on or after 1 August 2020
- you’re eligible to apply for an NHS bursary (even if you’re not receiving it)
- you’re already getting payments from Student Finance England for another course that you’re studying
- you’ve received a Postgraduate Doctoral Loan before - unless you left your course due to illness, bereavement or another serious personal reason
- you already have a doctoral degree, or a qualification that’s equivalent or higher
- you’re receiving a doctorate by publication
- you’re behind in repayments for any previous loans from the Student Loans Company
Your course
- be a full, standalone doctoral course (not a top-up course)
- have started on or after 1 August 2018
- last between 3 to 8 academic years
- be provided by a university in the UK with research degree awarding powers
If more than one university delivers your course and one is overseas, you’ll still be eligible for the Postgraduate Doctoral Loan so long as:
- the UK university is the lead institution
- you spend at least 50% of your study time over the whole course in the UK
- full-time or part-time
- taught or research-based, or a combination of both
Examples of postgraduate doctoral qualifications include:
- PhD / DPhil (Doctor of Philosophy)
- EdD (Doctor of Education)
- EngD (Doctor of Engineering)
Integrated doctorals
You can apply for a loan if your doctoral programme includes an integrated master’s degree (even if you already have a master’s degree).
You must register for a full doctoral degree.
You will not be able to apply for a separate Postgraduate Master’s Loan.
Distance learning
To qualify for a Postgraduate Doctoral Loan for distance learning, you’ll need to be living in England on the first day of the first academic year of your course.
You’ll also need to live in:
- England for the whole of your course, if you’re an EU national
- the UK for the whole of your course, if you’re not an EU national
This usually does not apply if you’re:
- serving in the armed forces
- a spouse or civil partner of a serving member of the armed forces
- a dependent parent living with a serving member of the armed forces
You must be under 60 on the first day of the first academic year of your course.
The academic year is a period of 12 months starting on:
- 1 September, if your course starts between 1 August and 31 December
- 1 January, if your course starts between 1 January and 31 March
- 1 April, if your course starts between 1 April and 30 June
- 1 July, if your course starts between 1 July and 31 July
Your nationality or residency status
You can apply for the Postgraduate Doctoral Loan if all of the following are true:
- you’re a UK national or Irish citizen or have settled status under the EU Settlement Scheme or indefinite leave to remain so there are no restrictions on how long you can stay
- you normally live in England
- you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years in a row before the first day of the first academic year of your course (apart from temporary absences such as holidays)
If you’ve been living in Ireland or a British overseas territory, you do not need to normally live in England. You can apply for the loan if you attend your course in England or do distance learning in England.
You might also be eligible if you’re a UK national (or family member of a UK national) and you’ve been living in the UK, the EU, Gibraltar, Switzerland, Norway, Iceland or Liechtenstein for the past 3 years. To be eligible, you must have either:
- returned to the UK on or after 1 January 2018 and by 31 December 2020 after living in the EU, Switzerland, Norway, Iceland or Liechtenstein
- been living in the EU, Switzerland, Norway, Iceland or Liechtenstein on 31 December 2020
If you’re an EU national or a family member of an EU national
You may be eligible if you’re an EU national , or a family member of an EU national, and all the following apply:
- you have settled or pre-settled status under the EU Settlement Scheme (no restrictions on how long you can stay)
- you’ve normally lived in the UK, the EU, Norway, Iceland, Liechtenstein, Switzerland or overseas territories for the past 3 years (this is also known as being ‘ordinarily resident’)
- you’ll be studying at a university in England
You could also be eligible if you’re:
- the child of a Swiss national and you and your parent have settled or pre-settled status under the EU Settlement Scheme
- a migrant worker from the EU, Switzerland, Norway, Iceland or Liechtenstein with pre-settled status, or a family member of a migrant worker where both have settled or pre-settled status
- a resident of Gibraltar who is a UK or EU national, or their family member
- an EU national and have pre-settled status under the EU Settlement Scheme and lived in the UK, the Channel Islands or the Isle of Man for the past 3 years
Student finance for EU, Swiss, Norwegian, Icelandic or Liechtenstein nationals from August 2021
If you started a course on or after 1 August 2021, you usually need to have settled or pre-settled status under the EU Settlement Scheme to get student finance.
You need to have started living in the UK by 31 December 2020 to apply to the EU Settlement Scheme. The deadline to apply was 30 June 2021. If you’re joining family members in the UK who have settled status, you can apply for student finance before you have been granted pre-settled status.
Irish citizens do not need to apply for a visa or to the EU Settlement Scheme. They can apply to the EU Settlement Scheme if they wish to - for example, to apply on behalf of a child.
If you have a different residency status
You may also be eligible if your residency status is one of the following:
- refugee (including family members)
- humanitarian protection (including family members)
- child of a Turkish worker who has permission to stay in the UK - you and your Turkish worker parent must have been living in the UK by 31 December 2020
- a stateless person (including family members)
- an unaccompanied child granted ‘Section 67 leave’ under the Dubs Amendment
- a child who is under the protection of someone granted ‘Section 67 leave’, who is also allowed to stay in the UK for the same period of time as the person responsible for them (known as ‘leave in line’)
- granted ‘Calais leave’ to remain
- a child of someone granted ‘Calais leave’ to remain, who is also allowed to stay in the UK for the same period of time as their parent (known as ‘leave in line’)
- you’ve been given settled status but not under the EU Settlement Scheme
- you, your parent or step-parent have been granted settlement (‘indefinite leave to enter’ or ‘indefinite leave to remain’) as a victim of domestic violence
- you, your parent or step-parent have been granted settlement (‘indefinite leave to remain’) as a bereaved partner
- you or your family member have been granted leave under the Afghan Relocations and Assistance Policy (ARAP) or the Afghan Citizen’s Resettlement Scheme (ACRS)
- you or your family member have been granted leave to enter or remain in the UK under the Ukraine Family Scheme, the Homes for Ukraine Sponsorship Scheme or the Ukraine Extension Scheme
- you’re a person of Chagossian descent and have British citizenship
If you’re a non-UK national and have lived in the UK for a certain number of years
You could also be eligible if you’re not a UK national and are either:
- under 18 and have lived in the UK for at least 7 years
- 18 or over and have lived in the UK for at least 20 years (or at least half of your life)
Both the following must also apply:
- you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years in a row before the first day of the first academic year of your course
- you had permission to enter or stay in the UK for those 3 years
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- Postgraduate study
PhD scholarships
Postgraduate doctoral loans
Considering a research degree at the University of Sheffield? Loans are available to eligible home fee-paying doctoral students studying postgraduate research courses.
- Non-means tested loans are available to eligible home fee-paying students.
- The loan can be used for fees or living costs.
- Students must be aged under 60 on the first day of their course to be eligible.
- Repayment of the loan will involve a single repayment of 6% above the income threshold (currently £21,000) to cover the combined balance of any postgraduate masters and postgraduate doctoral loans.
The information on this page relates to the academic year 2024-2025 for Student Finance England . Students from Wales can find out more information about postgraduate doctoral loans on the Student Finance Wales web pages .
Apply online via Student Finance England
Further information
The loan is available to UK nationals, or individuals with settled status in the UK, who are ordinarily resident in England.
For further details about who else may be eligible, please find the full list of nationality and residence criteria on the Student Finance England web pages .
The loans will be up to £29,390 for courses starting on or after 1 August 2024 and are intended to be a contribution to the cost of doctoral study. The amount students can borrow depends on which year they started their course.
| Course start date | Maximum loan amount |
| Between 1 August 2023 and 31 July 2024 | £28,673 |
| Between 1 August 2022 and 31 July 2023 | £27,892 |
| Between 1 August 2021 and 31 July 2022 | £27,265 |
| Between 1 August 2020 and 31 July 2021 | £26,445 |
Students can choose how much they borrow up to the maximum. The money can be used towards the cost of the course, whether on tuition, maintenance, or any other costs associated with study.
The total loan requested will be divided and paid each year of study.
The Student Loans Company will then pay the yearly amount in three instalments. Each year's amount will be paid in instalments of 33%, 33%, and 34%.
As part of the registration process, students can decide to pay their fees in two or three instalments across the year.
For more information about paying your tuition fees as a postgraduate research student, please visit our web pages:
Tuition fees for postgraduate research home fee-paying students
You must be under 60 on the first day of the first academic year of your course.
The academic year is a period of 12 months starting on:
- 1 September, if your course starts between 1 August and 31 December
- 1 January, if your course starts between 1 January and 31 March
- 1 April, if your course starts between 1 April and 30 June
- 1 July, if your course starts between 1 July and 31 July
The government has decided that the loan will be available for doctoral programmes that last between 3 and 8 years in duration.
Your course must be: a full, standalone doctoral course (not a top-up course); have started on or after 1 August 2018; last between 3 to 8 academic years; and be provided by a university in the UK with research degree awarding powers.
Your course can be full-time or part-time.
For further details about eligibility, please visit the Student Finance England web pages .
Students in receipt of any Research Council studentships (full or fees only) or an NHS bursary for doctoral study are not eligible to take out doctoral loans.
You can apply for a loan if your doctoral programme includes an integrated masters degree.
No, students already holding an equivalent or higher level qualification will not be eligible for the loan.
The doctoral loan will be repaid as 6% of eligible income above the repayment threshold (currently set at £21,000). For students with an existing masters loan, the doctoral and masters loan will be treated as a single balance, subject to one combined repayment.
Repayments will be made concurrently alongside repayment of any outstanding undergraduate student loan.
Your repayments automatically stop if you stop working or your income goes below the threshold.
Any outstanding balance on the doctoral loan will be written off 30 years after the loan becomes subject to repayment.
Students in receipt of funding from a Research Council will not be eligible to apply for a postgraduate doctoral loan.
If you are concerned that your masters course will overlap with the start of your doctoral programme and you may experience a delay in receiving your doctoral loan, please contact our Student Registration Team using [email protected] .
If you have any questions about the postgraduate doctoral loans, please contact [email protected] .
Related information
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Broken neck, multiple injury marks: Shocking details of RG Kar Medical College doctor's brutal rape-murder case
The initial autopsy report of the post-graduate trainee doctor of rg kar medical college and hospital, whose body was found inside the seminar hall of the state-run hospital last week, had multiple injury marks suggesting a violent, brutal murder after being sexually assaulted..
The initial autopsy report of the post-graduate trainee doctor of RG Kar Medical College and Hospital , whose body was found inside the seminar hall of the state-run hospital last week, had multiple injury marks suggesting a violent, brutal murder after being sexually assaulted .
"There was bleeding from both her eyes and mouth, injuries over the face and nail. The victim was also bleeding from her private parts. She also has injuries in her belly, left leg... neck, in her right hand, ring finger and... lips," news agency PTI report citing the report.
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The initial autopsy report also ruled out suicide.
"This is definitely not a case of suicide; the woman was murdered following sexual assault," the news agency cited a police officer.
Another senior officer of Kolkata Police said the crime took place between 3-6 am.
"Her neck bone was also found broken. It seems that she was first strangulated and then smothered to death. We are waiting for the full report of the autopsy," the police officer added.
The Kolkata Police has formed a Special Investigation Team (SIT), including members of the homicide department, among others, to probe the crime.
Meanwhile, West Bengal Chief Minister Mamata Banerjee vowed to seek the death penalty for the accused arrested in the brutal sexual assault and murder case, who has been remanded to 14-day police custody.
The accused was charged under sections 64 (rape) and 103 (murder) of BNS and was produced before the Sealdah court, which remanded him to police custody till August 23.
"If they do not trust the West Bengal government, they can approach any investigating agency; we have no objection," the Chief Minister said.
She also instructed officials to expedite the trial by moving it to a fast-track court.
The victim was a postgraduate trainee doctor of chest medicine and was on night duty on Thursday night when the incident occurred. Her body was found on Friday morning at a seminar hall of the hospital.
A doctor at the hospital told PTI, “She had dinner with her juniors around 2 am. She then went to the seminar room since there is no separate on-call room to take some rest. In the morning, we found her body there."
The accused, it is learnt, was tracked down after police found a bluetooth headset at the crime scene. Police then tracked the CCTV footage that placed him at the crime spot.
The incident has sparked a massive political row, with the BJP and other Opposition parties demanding a CBI probe. Union Minister and state BJP chief Sukanta Majumdar has said, "You can hide the data in the National Crime Records. But the kind of incidents that are happening proves that they (women) are not in a good situation."
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IMAGES
COMMENTS
Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000. Independent students and graduate students have higher loan limits ...
Graduate student loans—whether federal or private—are designed for graduate students pursuing their master's, doctorate or other advanced degrees. Federal graduate student loans include ...
A Postgraduate Doctoral Loan can help with course fees and living costs while you study a postgraduate doctoral course, such as a PhD. There's different funding if you normally live in Wales ...
Grants. Complete the Free Application for Federal Student Aid, or FAFSA, as your first step to funding your graduate education. Citizens and eligible non-citizen graduate students, including ...
Ascent offers private graduate student loans up to $400,000 that are designed to meet the needs of a wide range of students pursuing advanced degrees. It stands out for its repayment flexibility ...
Best graduate student loans. Best for instant credit decision: College Ave. Best for multi-year financing: Citizens Bank. Best for applying with a co-signer: Sallie Mae. Best for applying without ...
You may apply for a Postgraduate Doctoral Loan in any year of study, however you may not receive the maximum amount if you apply after the first year of your PhD. For annual costs, you may receive: Up to £12,167 per year if your course starts on or after 1st August 2023, Up to £11,836 per year if your course started between 1st August 2022 ...
Repaying the Student Loan for your PhD works in essentially the same way as the Postgraduate Master's Loan. These are the key points to remember about the Doctoral Loan repayment: You'll only start paying it back when you're earning over £21,000 a year (If you're not on a yearly salary, that's over £1,750 a month or £403 a week).
How to apply. You can apply now for courses that start or started in the following academic years: 2024 to 2025. 2023 to 2024. Check whether you're eligible before you apply. You only need to ...
In the UK, some PhD students in some parts of the country can access government-funded postgraduate loans to assist with all sorts of funding issues related to the intense reality of being a PhD student. PhD students in England and Wales have recently been able to avail of student loans similar to those UK Government loans available to undergraduate and masters level students.
PhD loans in Wales. In 2024/25, the Welsh government has confirmed that eligible students ordinarily resident in Wales are able to borrow up to £28,655 to study for a full or part-time PhD. As with the postgraduate Doctoral loan scheme for residents in England, it isn't means-tested. If your course started in 2023/24, you can apply for a loan ...
Postgraduate Loans. In 2016, the government introduced loans for students looking to embark on postgraduate studies. This began with the Master's Loan and continued with the Doctoral Loan introduced in 2018. These are not means-tested loans, and they are paid directly to the student. They can be used to pay for course fees and living costs.
How to fund a master's or PhD. These are the best ways to get funding for a postgraduate degree: Postgraduate Student Loans. The first port of call for your postgraduate funding will likely be Student Loans from the government. While there are loans for master's students in each part of the UK, PhD loans are only available in England and Wales ...
If you borrowed a loan for your undergraduate course that started before 1 September 2012, you'll repay 9% of your income above £19,390 towards that loan, and 6% of your income above £21,000 towards your Postgraduate Doctoral Loan. The table below shows how much you'll repay towards your loans. Yearly income before tax.
You can apply for a Postgraduate Doctoral Loan in any year of your course. But if you apply after your first year, you might not get the maximum amount. You can get up to: £12,471 if your course ...
You will be eligible for this loan if you: are a British citizen, or have been ordinarily resident in England for three years on the first day of your course. are under 60 years of age on the first day of your course. are studying a taught or research master's course. don't already have a postgraduate master's qualification, or another higher ...
Postgraduate Master's Loan. If you're starting a master's degree, you could get a Postgraduate Master's Loanto help with course fees and living costs. You can get up to: £12,471 if your ...
The maximum loan available for those starting a programme on or after 1 August 2024 is £29,390. Applications are open now. This postgraduate student loan is paid directly to you and is non-means tested. The loan is a contribution towards the cost of study and is unlikely to fund the full cost of your doctoral studies.
You can borrow up to £12,471 with an English postgraduate student loan for a Masters degree starting in 2024-25. This amount was £12,167 for the 2023-24 academic year. The money will be paid directly to your bank account to use for tuition fees and / or living costs. You do not get a maintenance loan for a Masters.
Overview. If you are a Home student, you can apply for Postgraduate Doctoral Loan from the UK government to help with course fees and living costs while you study a postgraduate doctoral course, such as a PhD. See an estimate of costs for living in London as an Imperial student. There's different funding if you normally live in Wales.
To qualify for a Postgraduate Doctoral Loan for distance learning, you'll need to be living in England on the first day of the first academic year of your course. You'll also need to live in ...
The loan can be used for fees or living costs. Students must be aged under 60 on the first day of their course to be eligible. Repayment of the loan will involve a single repayment of 6% above the income threshold (currently £21,000) to cover the combined balance of any postgraduate masters and postgraduate doctoral loans.
A Postgraduate Doctoral Loan can help with course fees and living costs while you study a postgraduate doctoral course, such as a PhD. The Doctoral loan lets you borrow up to £28,673 in England for your whole course and up to £28,395 to cover course fees and living costs in Wales. It's paid directly to you in three equal instalments each year.
The initial autopsy report of the post-graduate trainee doctor of RG Kar Medical College and Hospital, whose body was found inside the seminar hall of the state-run hospital last week, had ...