Soon LTDS will be asked to complete the postgraduate course information return for the next academic year in relation to Postgraduate Loans. Ahead of the release of the details by the Student Loans Company (SLC) for 2018/19 programmes and applicants, this post serves as a reminder of the funding available to postgraduate student in the current academic year. Note that students who have commenced studies during 2017/18 may still be able to apply for funding and should be directed to the relevant funding body.
What kind of funding is available for Students at Masters Level from the SLC for students who have commenced studies 2017/18?
Students studying a postgraduate Master’s course can apply for a Postgraduate Loan (PGL) under Student Finance England (SFE), Student Finance Wales (SFW), Student Finance Northern Ireland (SFNI) or Student Awards Agency Scotland (SAAS). The funding available is different depending on the Students domicile.
SFE & SFW – a contribution towards the costs of study, i.e. it will be at the student’s discretion to use the loan towards fees, maintenance costs or other costs. The loan is non-means tested and paid directly to the student. In 2017/18 the maximum loan that could be requested was £10,280 and this is to be paid over all course years in equal instalments.
SFNI – a Postgraduate Tuition Fee Loan of up to £5500 that is non-means tested and paid directly to the Higher Education Provider (HEP) in three instalments as per undergraduate tuition fee loans.
SAAS – Students can apply for both a tuition fee loan up to £5500 that is paid directly to the HEP, plus a living cost loan of £4500 for eligible full time programmes. Funding for Scottish students coming to study in England is only available if the programme they wish to study is not available in Scotland.
Which programmes are eligible?
Normally full time Master’s programmes that are either 1 or 2 years in duration, and part time programmes 2-4 years in duration which are 50% intensity are eligible for the PGL. Part time courses that are 3 years in duration may be also eligible if there is no full time equivalent. However there are some differences in both the funding available and which programmes qualify depending on the students domicile, for example the living cost loan element of the Scottish provision is not available for part time students.
Further information and detailed guidance on eligibility and the application process is available via the Student Loans Company website.
Please contact LTDS@ncl.ac.uk if you have any queries regarding the University’s internal processes.