Can I Get Student Finance for a Master’s Degree?

Yes, you can get student finance for a master’s degree in England through the Postgraduate Master’s Loan, worth up to £12,858 for courses starting on or after 1 August 2025.¹ The money is paid to you rather than the university, so you decide how much goes toward tuition and how much toward living costs. Whether you qualify depends on your age, where you live, what you’ve already studied, and the course itself.

Who Can Get the Loan

You must be under 60 on the first day of the first academic year of your course. There are no exceptions to that age limit.²

You cannot already hold a master’s degree or a higher qualification such as a PhD. This applies even if you funded that earlier qualification yourself or earned it abroad. It’s the level of qualification that matters, not how you got it.²

On residency, you must normally live in England and have lived in the UK, the Channel Islands, or the Isle of Man for at least three continuous years before your course starts. Holidays and other temporary absences don’t break that. The three years must not have been solely for full-time education.³

Several groups beyond UK nationals can apply. People with settled status or indefinite leave to remain qualify if they meet the residency test. EU nationals with settled or pre-settled status under the EU Settlement Scheme may qualify if they’ve been ordinarily resident in the UK, the EU, or certain other European countries for the past three years. Irish citizens don’t need a visa or the Settlement Scheme. Refugees and people with humanitarian protection, and qualifying family members, can also apply.³

If you started a funded master’s before and didn’t finish, you can apply again if you can show compelling personal reasons for leaving. Evidence might be a doctor’s or social worker’s letter, a letter from your previous university, or relevant certificates. Where you have no formal documents, a detailed cover letter explaining what happened may be accepted.⁴

Which Courses Qualify

The course has to be a full, standalone master’s worth at least 180 credits, taught at a university or college in England designated for student finance. Qualifying degrees include the MA, MSc, MPhil, MRes, LLM, MBA, MFA, MEd, and MLitt, among others.³

Full-time courses can run for one or two academic years. Part-time courses can run for two to four years, capped at twice the length of the equivalent full-time course, or up to three years where there is no full-time equivalent. Part-time students generally need to study at an average intensity of at least 50% of the full-time equivalent.³

Integrated master’s programmes, where the master’s year sits inside a longer undergraduate degree, do not qualify. Those are funded through undergraduate student finance, or through the Lifelong Learning Entitlement for courses starting on or after 1 January 2027.³

Distance learning counts, but you must be living in England on the first day of the first academic year. If you’re an EU national, you must live in England for the whole course; if you’re not an EU national, you must live in the UK throughout.³

One boundary to be aware of if your course starts near the end of 2026: the Lifelong Learning Entitlement launches on 1 January 2027 and replaces existing higher education funding for certain courses, including some at master’s level. Check which system applies to your specific start date.⁵

How Much You Get and How It’s Paid

The maximum is £12,858 across the whole course for courses starting on or after 1 August 2025. You choose how much of that to actually take.¹ The loan covers tuition and living costs together in a single payment, which is different from undergraduate finance where those are split.

Payment goes into your bank account in three instalments each academic year. On a two-year course, the total is divided equally between the two years, so borrowing the full amount would give you roughly £6,429 a year.⁶ Your first instalment arrives after your course starts and your university confirms you’ve registered.

How to Apply

Applications go through the Student Finance England online portal. You apply once for the whole course, even if it lasts more than a year.⁷ Have ready your UK passport details (or your original birth or adoption certificate if you don’t have a valid passport), your National Insurance number, your bank account details, and the exact name of your university and course.

Student Finance England may ask for extra evidence after you apply, such as proof of previous addresses or Home Office documents. Respond quickly so your payments aren’t held up. Once processing is finished, a Notification of Entitlement appears in your online account confirming the approved amount and payment dates.

The deadline is nine months after the first day of the last academic year of your course. The first day of the academic year is fixed by when the course starts:

Course starts 1 August to 31 December: academic year begins 1 September.
Course starts 1 January to 31 March: academic year begins 1 January.
Course starts 1 April to 30 June: academic year begins 1 April.
Course starts 1 July to 31 July: academic year begins 1 July.⁷

Apply well before the deadline. Assessment takes time, and you want the money in place when your course begins.

Repaying the Loan

Repayments start in the April after you finish or leave your course, and only once you’re earning above £21,000 a year. You repay 6% of everything you earn over that threshold.⁸ On a £25,000 salary that works out to about £240 a year, or £20 a month. If you’re employed, the deduction comes straight from your salary.

Interest is charged from the day your first payment is made, at the Retail Price Index plus 3%, until the loan is cleared or cancelled.⁹ Any balance still outstanding 30 years after the April you were first due to repay is written off.¹⁰

If you already have an undergraduate loan, the postgraduate repayments run alongside it. They don’t pause or replace what you already owe.

Effect on Universal Credit

Taking the loan can affect Universal Credit. When your award is calculated, 30% of the loan is counted as student income; the other 70% is ignored.¹¹ Because tuition and living costs sit in the same lump sum, that 30% can reduce your Universal Credit even though a large part of the money is really paying your fees.

1
GOV.UK. Master’s Loan – What You’ll Get
2
Legislation.gov.uk. The Education (Postgraduate Master’s Degree Loans) Regulations 2016 No. 606
3
GOV.UK. Master’s Loan – Eligibility
4
GOV.UK. Going Back to Uni or Repeating a Year
5
GOV.UK. Student Finance if Your Course Starts on or After 1 January 2027
6
Student Loans Company. What’s Available – Postgraduate Loan
7
GOV.UK. Master’s Loan – How to Apply
8
GOV.UK. Repaying Your Student Loan – How Much You Pay
9
GOV.UK. Student Loans – A Guide to Terms and Conditions 2026 to 2027
10
GOV.UK. When Your Student Loan Gets Written Off or Cancelled
11
GOV.UK. Universal Credit and Students