Postgraduate Loan Explained 2017/18

Will you be starting a postgraduate Master’s course in academic year 2017/18? If you’re studying a Master’s course you might be able to get a Postgraduate Loan You can get up to £10,280 as a contribution towards your course and living costs

You can apply this summer You should apply as early as possible once the service opens to make sure you get your money in time for starting your course You have to repay any Postgraduate Loan you borrow, but only when your income is over £21,000 You’ll be due to start making repayments the April after you finish or leave your course but not before April 2019 The amount you repay is based on your income, not what you borrowed

You’ll repay 6% of your income over £21,000 towards your Postgraduate Loan If you’ve had any other loans from the Student Loans Company for your undergraduate course, you’ll also repay those at the same time So, if your undergraduate course started after 1 September 2012, you’ll repay 9% of your income over £21,000 towards your other loans and 6% of your income over £21,000 towards your Postgraduate Loan That means you could be repaying a total of 15% at one time For more information search for Postgraduate Loan on GOV

UK or visit Student Finance England’s dedicated student finance zone on The Student Room