Master’s loans
If you are undertaking your first master's degree, a Postgraduate Master's Loan may be available to you from the UK government to contribute towards your course fees, your living costs, or both.
Please note that details for students starting in 2026 have not yet been released in full by the UK government. All figures and eligibility criteria on these pages refer to those who started in 2025, unless stated otherwise, and will be updated when further information is available.
Flowers in the quad at Pembroke College. Credit: Edvard Glucksman / Graduate Photography Competition
How much is available?
The type and amount of support you can apply for depends on where you are ordinarily resident.
More information
You can find details about eligibility, application and repayment in the sections listed across the top of this page. An overview of Postgraduate Master's Loans and details of how to apply is available from your regional funding agency's website:
Who is eligible?
Full eligibility details can be found on your regional funding agency’s website:
- Student Finance England
- Student Finance Wales
- Student Awards Agency for Scotland
- Student Finance Northern Ireland
For courses starting on or after 1 August 2021, the UK government has confirmed that EU, other EEA, and Swiss Nationals will be eligible for student finance from the UK government if they have UK citizens’ rights (i.e. if they have pre-settled or settled status, or if they are an Irish citizen covered by the Common Travel Area arrangement). The support you can access from the government will depend on your residency status. Further details on eligibility can be found on the UK government website. Those students resident in England and the Republic of Ireland who are eligible to apply to Student Finance England for a Postgraduate Master’s Loan should refer to the England information across these Master’s Loans pages.
Course eligibility
The information in this section is presented as a guide only. You should refer to your regional funding agency's website for further details.
How to apply
Applications for students starting in the 2026/27 academic year are currently expected to open in May 2026, except students from Scotland who can apply from early April 2026. You are encouraged to apply as early as possible via your regional funding agency's website to ensure that funding is in place for the start of your course.
Repayment
The information below is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.
Will I be charged interest on my loan?
England and Wales
Interest is charged at the Retail Price Index (RPI) plus 3% from the day your first payment is made until your loan is repaid in full.
Northern Ireland and Scotland
Interest will be charged at the flat rate of RPI or at the bank base rate plus 1% (whichever is the lower) whether in study or in repayment, and regardless of income.
How do I repay my loan?
You have to repay any loan you borrow, but not until your income is over £21,000 a year. Repayments will be based on your income, not what you borrow.
Students from Scotland and Northern Ireland have different income thresholds. This is currently £26,065 a year for Northern Ireland and £32,745 a year for Scotland (2025-26 tax year). Both are expected to increase with inflation each year.
You will be due to start making repayments the April after you finish or leave your course.
A student from England will only start making repayments once your income is over the current threshold of £403 a week, £1,750 a month or £21,000 a year. You will repay 6% of what you earn over the threshold. So if you are paid monthly and earn £2,500 before tax you’ll repay 6% of the difference between what you earn and the threshold (£1,750):
£2,500 - £1,750 = £750
6% of £750 = £45
So your Postgraduate Loan repayment would be £45 that month.
What if I already have a student loan?
If you have had any other loan from the Student Loans Company then you will continue to make separate repayments alongside those for your postgraduate loan.
More information
You can find further information on repayments at the GOV.UK Repayments website.