Postgraduate Masters Loan Schemes
UK/EU Postgraduate Student Loan
Government-backed postgraduate loans worth up to £10,000 are now available to help Masters students towards the cost of their tuition fees and living expenses. These are non-means tested, repayable postgraduate student loans similar to those that are offered to undergraduate students. For more information, please see the Government website: www.gov.uk/postgraduate-loan
- Postgraduate loans are only available for full Masters degree programmes and not for other postgraduate qualifications. Courses can be for one or two years full-time, or can be 4 years part-time
- Students can apply for a loan of up to £10,000 as a contribution towards their tuition fees and living costs. If their programme is two years long, they can receive up to £5,000 in their first year and the rest in their second year.
- Payments will be made directly to students in three instalments across each academic year. Students will only receive the loan once they have paid their terms fees and are fully enrolled at the School (and, where applicable, remain so for a second year).
- Applicants must have lived in the UK for at least three years, and be resident in England (some exceptions may apply to European Union (EU) students)
- Students from Scotland, Wales and Northern Ireland who are ordinarily resident in these nations of the UK will not be eligible
- Those who already hold a Masters degree qualification, or other equivalent or higher level qualification, will not be eligible. For further information, please refer to the ELQ page of our website
- Repayments will be income-contingent and made concurrently with undergraduate loans. Rates will be set at 6% of annual income over £21,000.
For further information about the postgraduate loan, specific residency requirements and eligible Guildhall programmes, please see the guidance booklet Funding for Postgraduates.
Erasmus+ Master Loans
The Erasmus+ Masters Loan aims to offer affordable loan support for students who want to study for a Masters degree in a different country. The Erasmus+ Master Loan is entirely new and will not replace Erasmus+ grants, which continue to be the main part of the Erasmus+ exchange programme.
The loans are up to €12,000 for a one-year Masters programme and up to €18,000 for a two-year Masters and can cover both living and tuition costs in any of the 33 Erasmus+ programme countries.
To apply you must be resident in a member state of the EU, or an associated country (currently Iceland, Norway, Turkey, Liechtenstein and the Former Yugoslav Republic of Macedonia).
You must also be planning to study in a country that is:
- Not your home country
- Not the country where you completed your undergraduate degree (i.e. you would not be eligible for this loan scheme if you have already completed a BMus degree in the UK).
The Erasmus+ Master Loan Scheme is being rolled out on a country by country basis and is not yet available in all member states. For the latest information about whether these loans are now available in your country, you should contact your National Agency.
For more information, please see: