what is a postgraduate loan

A postgraduate loan is a type of loan that can help with course fees and living costs while studying a postgraduate masters course. The loan is not means-tested, and the amount you receive does not depend on your financial background or that of your family. The loan can be used towards tuition fees, living costs, or other costs associated with postgraduate study. The loan is paid directly into your bank account in three instalments during the academic year, and if your course is longer than one year, the loan will be divided equally across each year of your course. The amount you can get depends on when your course starts, and you can apply for a Postgraduate Master’s Loan of up to £12,167 if your course starts on or after 1 August 2023. The loan can only be used for full postgraduate degree courses, not to top-up a lower-level qualification (such as a PGDip or PGCert) to a master's degree. To be eligible for a postgraduate loan, you must be a UK national or have settled status, normally live in England, and have lived in the UK, Channel Islands, or Isle of Man for the past three years.