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Oxford University

Master's loans

The English and Welsh governments introduced a loan scheme for doctoral courses from 2018/19 entry. Find out if you are eligible, what kind of support is available and how you can apply through the information on this page.

Who can take out the loan?

Full eligibility details can be found on your regional funding agency’s website:

For courses starting in the 2016/17 to 2020/21 academic year students from the EU are eligible to apply to Student Finance England for a Master's loan.

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.

How much is available?

The type and amount of support you can apply for depends on where you are ordinarily resident and the year you started your course.

 EnglandWalesScotland Northern Ireland  European Union
2016-entry£10,000 loan for tuition and living costsN/AN/AN/A£10,000 loan for tuition and living costs
2017-entry£10,280 loan for tuition and living costs£10,280 loan for tuition and living costs£5,500 tuition fee loan (full-time and part-time courses); £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loan£10,280 loan for tuition and living costs
2018-entry£10,690 loan for tuition and living costs£13,000 loan for tuition and living costs£5,500 tuition fee loan (full-time and part-time courses); £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loan£10,690 loan for tuition and living costs
2019-entry£10,906 loan for tuition and living costs£17,000 loan and grant for tuition costs£5,500 tuition fee loan and £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loan£10,906 loan for tuition and living costs
2020-entry£11,222 loan for tuition and living costs£17,489 loan and grant for tuition and living costs£5,500 tuition fee loan and £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loan£11,222 loan for tuition and living costs
2021-entry£11,570 loan for tuition and living costs£18,025 loan and grant for tuition and living costs£5,500 tuition fee loan and £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loanN/A
2022-entry£11,836 loan for tuition and living costs£18,430 loan and grant for tuition and living costs£5,500 tuition fee loan and £4,500 loan for living costs (full-time courses only)£5,500 tuition fee loanN/A
2023-entry£12,167 loan for tuition and living costs£18,770 loan and grant for tuition and living costs£7,000 tuition fee loan and £4,500 loan for living costs (full-time courses only)£6,500 tuition fee loanN/A
2024-entry£12,471 loan for tuition and living costs£18,950 loan and grant for tuition and living costs£7,000 tuition fee loan and £6,900 loan for living costs (full-time courses only)£6,500 tuition fee loanN/A
2025-entry£12,858 loan for tuition and living costs£19,225 loan and grant for tuition and living costs£7,000 tuition fee loan and £6,900 loan for living costs (full-time courses only)£6,500 tuition fee loanN/A

Your funding will be divided equally between each year of your course.

How is the funding paid?

The manner is which your funding is paid depends on where you are ordinarily resident.

Course eligibility

How to apply

You are encouraged to apply as early as possible to ensure that funding is in place for the start of your

Will I be charged interest on my loan?

The information provided below on repayments and interest rates 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.

England, Wales and the EU

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. Please visit the GOV.UK Repayment Site for further details.

Northern Ireland and Scotland

The interest rate is set by the Department for Education (DfE) each year and is normally based on the Retail Price Index (RPI) or the Bank of England base rate plus 1%, whichever is lower. Interest will be charge from the day your first payment is made until your loan is repaid in full. Please visit the GOV.UK Repayment Site for further details.

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.

However, you’ll 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’ll repay 6% of what you earn over the threshold.

So if you’re 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.

Please visit the GOV.UK Repayment Site for further details.

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.