Higher Education Loans - Application & Requirements
Postgraduate Masters Finance for students in England
New entrants to postgraduate study can apply for a government-backed, non-means tested Masters Loan of up to £11,222, if your course starts on or after 1 August 2020.
The purpose of the loan is to offer a contribution towards the cost of completing your postgraduate study. You can use the loan according to your individual circumstances, such as a contribution towards tuition fees and/or living costs.
Loans can be up to £11,222 per student for your whole course. If you’re studying for 2 academic years, the loan will be divided equally across both years of your course.
Applications are non-means tested.
Monies are paid directly to you, which requires a UK bank account.
You must be resident in England on the first day of the academic year
You should also be:
Ordinarily living in England, having resided in the UK for three years before the start date of the course; or
As an EU student, been originally resident in the EEA/Switzerland for the past three years
You must be under 60 on the first day of the first academic year
If you already hold a Masters level or higher level qualification, then you won't be eligible for the Postgraduate Loan
Once you have submitted your application to study with Queen Mary Online you can start your Masters Loan application - you don't need to wait until you have been offered a place.
Please visit www.gov.uk/studentfinance for more details or speak to a course adviser on +44 (0)20 3859 7192.
Postgraduate Masters Finance for students in Wales
If you're studying a distance learning postgraduate masters in Wales from 1 August 2020, you can apply for Postgraduate Masters Finance and receive up to £17,489 as a combination of grant and loan.
To qualify you'll need to be living both:
in Wales on the first day of the academic year of your course
within the UK for the whole of your course
Please visit Student Finance Wales or speak to a course adviser on +44 (0)20 3859 7192 for more details.
Postgraduate Masters Finance for students in Scotland
If you're studying a distance learning postgraduate masters in Scotland, you can apply for a tuition fee loan of up to £5,500. This loan can cover all or part of your tuition fees, but it won’t cover your living costs.
Please visit the Student Awards Agency Scotland or speak to a course adviser on +44 (0)20 3859 7192 for more details.
Postgraduate Masters Finance for students in Northern Ireland
If you're studying a distance learning postgraduate Masters in Northern Ireland, you can apply for a Tuition Fee Loan of up to £5,500 to help with the cost of tuition fees. Please visit Student Finance Northern Ireland or speak to a course adviser on +44 (0)20 3859 7192 for more details.
Postgraduate Masters Finance for students in the USA
If based in the USA, you may be able to apply online for a private Sallie Mae student loan – our federal school code is G06697 and our OPEID is 00669700. You will need to complete the Private Education Loan Applicant Self-Certification form and email this to us at email@example.com
You are strongly advised to use the repayment estimator to help you calculate your repayment options against your future salary expectations. This will help you plan your borrowing and repayments to avoid problems in the future and minimise defaulting on your loans.
Please be aware that Sallie Mae cheques can take upwards of five to six weeks to arrive. We recommend that you speak to a course adviser on +44 (0)20 3859 7192 as early as possible before applying for the loan. They will be able to take you through the requirements and overall process.