Postgraduate Loans (PGL)
A postgraduate masters loan is funding to help with course and living costs whilst studying a postgraduate masters-level course.
|When the programme started|| Maximum loan fee amount
|On or after 1 August 2018|| £10,609
|During the academic year 2017/2018|| £10,280
The loan is paid directly to you as a contribution towards the cost of postgraduate studies and can be spent on tuition fees, accommodation, books, general living expenses etc.
Am I eligible?
You must be under the age of 60 at the commencement of the course
Loans are available for both full-time and part-time study.
You'll need to meet certain residency criteria (Scotland, Northern Ireland and Wales resident students are not currently eligible) –
Masters courses covered include:
- MSc (Master of Science)
- MA (Master of Art)
- MPhil (Master of Philosophy)
- MRes (Master of Research)
- ResM (Research Masters)
- LLM (Master of Law)
- MLitt (Master of Letters)
- MFA (Master of Fine Arts)
- Med (Master of Education)
- MBA (Master of Business Administration)
You'll not be eligible for PGL if you have outstanding student loan arrears or have previously been found to be ‘unfit’ for student support (e.g. because of attempted fraud).
How do I apply for a loan?
You can apply online for a loan to Student Finance England from late June 2018 online at www.gov.uk/postgraduateloan. Applications can be made up to nine months after the start date of the programme. Where the course lasts two years or more, applications can be submitted up to nine months after the start date of the second academic year. You can request that the amount of the loan be changed up to one month before the programme end date.
When will I receive the loan proceeds?
You must firstly be registered on the programme of study. Payment is made into your UK bank account in three termly instalments during the academic year. If the programme is longer than one year you can apply for up to £5,304.50 in the first year and the remainder in year two. If you are studying on a part-time basis you can only receive the payments in the first two years of the programme.
- 1st instalment of 33 per cent – payment is due on the start date of the programme
- 2nd instalment of 33 per cent
payment is due on the last Wednesday of the fourth month of the programme. For September starters payment will be received in late December.
- 3rd instalment of 34 per cent –
payment is due on the last Wednesday of the seventh month of the programme. For September starters payment will be received in late March.
When am I expected to repay the loan and what interest rate will I be charged?
The loan is repayable but not until you have left or finished your course and your income is over £21,000 a year. Postgraduate loans will be repaid under income contingent repayment terms. The repayment terms differ from those that apply to undergraduate student loans. Interest will accrue at a rate of RPI + 3 per cent on all outstanding PGL balances.
Visit a student loan repayment website for more information about repaying a postgraduate loan.
- Postgraduate loans for masters students FAQ’s
- Check www.thestudentroom.co.uk/content.php?r=22757-Postgraduate-Loans
- For further advice and information read the article about postgraduate loans on the MoneySavingExpert website.
Professional and Career Development Loans
Professional and Career Development Loans are bank loans to help pay for courses and training that help with your career or help get you into work. You may be able to borrow between £300 and £10,000. Loans are usually offered at a reduced interest rate and the government pays interest while you’re studying.
CDL loan factsheet
Funding for care leavers
If you're a care leaver there are lots of extra funding options to help you to pay for your studies.
Alumni loyalty reward for postgraduate study
From September 2018, the University applies a discretionary alumni reward where alumni meet certain criteria on particular postgraduate taught courses.
- a 20 per cent discount on home/EU tuition fees
- or a £2,000 discount on international tuition fees.
PGCE programmes, Master of Architecture,
MChem, MEng, MGeol, MPsych, MSci, ResM and postgraduate research degrees are not included in this reward.
The University has officially launched a number of new scholarships courtesy of its partnership with Santander Group.
The scholarships range from £200 to £5,000 and they include funding for research projects in the UK and overseas; language exchange programmes; funding for strategic sectors such as ocean renewable energy projects; and initiatives to promote volunteering and the development of employability skills.
Visit the Santander scholarships pages for further information
Roland Levinsky Memorial Fund
The Roland Levinsky Memorial Fund offers current students (undergraduate and postgraduate) the opportunity to enhance their University experience through extra-curricular activities.
Awards of up to £1500 enable you to take part in activities which could include anything from participation in a society or field trip, to undertaking a research expedition overseas.
Visit the Roland Levinsky Memorial Fund awards pages to learn more
Dr Manning Award
The Dr Manning fund aims to encourage the study of biological and biomedical sciences at University of Plymouth, through alleviating financial hardship and recognising academic excellence in this area. An annual award of up to £1500 will be made to provide financial support for one female student. Visit the Dr Manning Award pages for more information.
More information on programme scholarships can be found in our subject and course specific funding page.
- International Relations
- Business & Management
Scholarships for international students
The University has a variety of scholarships if you are a postgraduate student from overseas. More information can be found on our funding for international students page
Master Your Future – Faculty of Business Professoriate Scholarships
The Faculty of Business Professoriate Scholarships of £1,000 are awarded to selected students undertaking postgraduate study each year.
The opportunity to apply for a professoriate scholarship is available to applicants currently in receipt of an offer for postgraduate study.Find out more and how to apply
Win a £3000 scholarship for our MSc Psychological Research Methods
All you need to do is tell us what psychological question you’re burning to answer, and how you plan to do it.Find out more about the scholarship and how to apply
Research degrees – money matters
Find out more about how to pay your tuition fees, studentships and student loans for postgraduate research students.Postgraduate Research (PGR) fees and expenses explained