The vast majority of masters courses are self-funded, leaving students relying on options such as Professional and Career Development loans, family support, or having to work, as well as study, full-time. Many extremely able students simply can’t afford to pursue further study. So I’m delighted to be blogging about the new student loans introduced by the Scottish government for taught postgraduate courses up to Masters level, available from academic year 2017/18.
The maximum loan is £10,000, with up to £5,500 for tuition fees and £4500 for living costs. Eligible UK students (must have been resident in Scotland for 3 years, not including for periods of study) can apply from April 2017. EU students will be able to apply for tuition fee loans from academic year 2018/19. With no cap on the funded places available, these loans should help a significant number of students pursue further study.
The loans will be combined with undergraduate loans (if applicable), with repayment, under current rules, expected to be made at 9% of income over £17,495.
You’ll find more information on the SAAS website.
Similar loans will be available in Northern Ireland from next academic year, with Wales expected to introduce them in 2018. England’s loan system started in 2016. There are significant differences in the constituent parts of the UK as regards amount that can be borrowed, eligible courses and repayments, but you’ll find excellent information on the FindAMasters website, and can register to keep up-to-date with developments:
A new PhD loan system is also being introduced in England from 2018-19. There’s still some fine details to be worked out, but FindAPhD has a great guide. You can register to receive updates about the English loans, as well as developments in the rest of the UK.