Available to UK students who meet the residence requirements. EU students who began courses before are also eligible to apply, as are EU students beginning courses in 2021 and beyond who have Settled or Pre-settled status under the EU Settlement Scheme and meet the residence requirements.
All eligible students, regardless of household income, can apply for a loan to cover the full tuition fee. This is paid by the government directly to the RCM. You need to apply for a tuition fee loan for each year of study.
Maintenance loan
Available to UK students who meet the residence requirements. EU students who have Settled status under the EU Settlement Scheme and meet the residence requirements may also be eligible for a maintenance loan.
For courses starting in 2022-23 eligible students living away from home in London can apply for a loan of up to ?12,667 per year to help with living expenses whilst studying. The exact amount you can borrow depends on your household income. Use the Student Finance Calculator to check how much you can borrow.
The application procedure and nature of support available is slightly different in Scotland, Wales and Northern Ireland. Students from these countries are advised to check the following websites for further details:
You can find out more information about undergraduate student loans and make an online application via the UK Government website.
Repayments for undergraduate students from England & the EU
You will only begin paying back your student loan once you are earning over a certain threshold. This threshold is currently ?25,000 per year. You pay 9% of your income over the repayment threshold.
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Masters loans
Postgraduate students from the UK who are ordinarily resident in England who are enrolled on courses that began in Autumn 2021 are eligible to borrow up to a maximum of ?11,570 for their entire course. Students on two-year Masters programmes (eg MPerf) are eligible to borrow up to ?5,785 per year.
Education provision is a devolved matter for Scotland, Wales and Northern Ireland, so students who are ordinarily resident in these nations of the UK will not be eligible for loans from Student Finance England. Please refer to the websites of Student Awards Agency Scotland, Student Finance Wales and Student Finance Northern Ireland for further details of alternative arrangements and to check your eligibility.
Only Masters degree courses are eligible, not other postgraduate qualifications. Courses can be for one or two years full-time, or three or four years part-time.
Students who already hold a Masters qualification, or other equivalent or higher level qualification, will not be eligible to apply.
How to apply
Applications are not open yet, but we recommend that you apply from late June at the link below, to ensure that your funding is in place by September.
Applications should be submitted online via the UK Government website. If you already have an undergraduate student loan for a previous course, you can log in using the same account.
You will need your passport details and, if you are a UK national, your National Insurance number. Depending on your circumstances, you may also need to provide some supporting documentation to prove your residency. You only need to apply once for a postgraduate loan, even if your course lasts more than one year.
Repayments for masters students
The interest rate on the loan is currently 6.1%. The rate is set by adding 3% to the Retail Price Index (RPI), which is reviewed each September.
Repayments will be calculated at 6% of annual income above ?21,000. For example, a graduate earning ?25,000 per year would repay ?30 of undergraduate loan and ?20 of postgraduate loan each month, making a total monthly repayment of ?50.
Repayments through HMRC will not start before the April after graduation, although voluntary repayments can be made at any time.
Please note that these details may change and you should check the UK Government website for the most up-to-date information.
Doctoral loans
Doctoral students from the UK who are ordinarily resident in England who enrolled on courses that began in Autumn 2021 were eligible to borrow up to a maximum of ?27,265 for their entire course.
Education provision is a devolved matter for Scotland, Wales and Northern Ireland, so students who are ordinarily resident in these nations of the UK will not be eligible for loans from Student Finance England.
Eligibility
Students who have already received a Doctoral loan, or who have received or will receive Research Council funding, will not be eligible to apply.
How to apply
Applications should be submitted online via the UK Government website. If you already have an undergraduate and/or masters student loan for a previous course, you can log in using the same account.
You will need your passport details and, if you are a UK national, your National Insurance number. Depending on your circumstances, you may also need to provide some supporting documentation to prove your residency. You only need to apply once for a postgraduate loan, even if your course lasts more than one year.
Repayments for doctoral students
The interest rate on the loan is currently 6.1%. The rate is set by adding 3% to the Retail Price Index (RPI), which is reviewed each September.
Repayments will be calculated at 6% of annual income above ?21,000. If you already have a Masters Loan then you will make a combined repayment of 6% covering both postgraduate loans. Payments will be made concurrently alongside repayment of any undergraduate student loan.
For example, a graduate earning ?25,000 per year would currently repay ?30 of undergraduate loan and ?20 of postgraduate (Masters and Doctoral) loan each month, making a total monthly repayment of ?50.
Repayments through HMRC will not start until you are earning over ?21,000 and not before the first April after you finish your course, although voluntary repayments can be made at any time.
Please note that these details may change and you should check the UK Government website for the most up-to-date information.
Additional information
You can find lots more information at The Student Room, where you can also find an active student community forum.
