A Postgraduate Master's 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.
A Postgraduate Master’s Loan may affect any benefits they currently get.
They’ll be due to start repaying their loan the April after they finish or leave their course. Interest is charged on the loan from the day we make the first payment to the student until it is paid off in full or canceled.
Students studying either a Postgraduate Certificate of Education (PGCE) or an Initial Teacher Training (ITT) course can't get a Postgraduate Master's Loan, but can apply for undergraduate student finance.