A Postgraduate Loan is funding to help with course and living costs whilst studying a postgraduate Master’s level course. It’s paid directly to the student and isn’t based on their income or the income of their household.
The Department for Work and Pensions (DWP) may take account of the loan when working out any benefits the student receives.
The loan is subject to repayment and will accrue interest from the day the first payment is made.
Students studying either a Postgraduate Certificate of Education (PGCE) or an Initial Teacher Training (ITT) course are not eligible for a Postgraduate Loan but can apply for undergraduate student finance.