United Kingdom Postgraduate loans for Masters in all subjects 2021/22

United Kingdom Postgraduate loans for Masters in all subjects 2021/22

Do you want to study in United Kingdom ? Are you pursuing your studies or want to pursue your post graduates studies in any subjects and any university in Uk?

Furthermore, are you having financial challenges and need loans to start or complete your post graduate studies? if yes read this post on the Postgraduate loans for Masters for 2021/22 academic session.

United Kingdom Postgraduate loans for Masters in all subjects 2021/22

United Kingdom Postgraduate loans for Masters in all subjects 2021/22

Eligible Amount

You can borrow up to £11,570 with an English postgraduate loan for a Masters starting in 2021-22.

The money will be paid directly to your bank account to use for tuition fees and / or living costs.

Students who have already started a Masters can borrow slightly less:

  • £10,280 for Masters that started in 2017-18
  • £10,609 for Masters that started in 2018-19
  • £10,906 for Masters that started in 2019-20
  • £11,222 for Masters that started in 2020-21

Eligible schools

All Universities in Uk is eligible for the loan

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).

Age

You must be under 60 (aged 59 or younger) on the first day of the first academic year of your Masters

Previous qualifications

You can’t already have a Masters degree or a higher level qualification (like a PhD).

You may also be eligible for a loan if one of the following applies:

  • Firstly, You are an Irish national
  • Secondly, You or a family member have been granted refugee status or humanitarian protection in the UK
  • Thirdly, You are 18 or over and have lived in the UK for at least 20 years and / or half of your life
  • Lastly, If you’re an EU, EEA or Swiss national you must have EU settled or pre-settled status.

Courses

To get a postgraduate loan your course must be a full postgraduate Masters degree. This means:

  • Firstly, It must be a full degree, not ‘topping up’ a qualification you already have
  • Secondly, It must be a postgraduate degree, not an integrated Masters or other undergraduate course
  • Thirdly, 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

Application procedure

If you’re starting (or have already started) a Masters programme in the 2020-21 academic year, you can now apply online via https://logon.slc.co.uk/cas/login

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

Application Deadline

You must apply within nine months of the first day of your final application year.

Repayments

You won’t start repaying your loan 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.

  • 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

Any remaining postgraduate loan debt is written off after 30 years, regardless of how much you have left to pay.

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