If you are planning to study for an online master’s degree with the University of Liverpool, you could be eligible for a postgraduate loan offered through Student Finance England or Student Finance Wales.
UK nationals, UK permanent residents, and EU citizens residing in England or Wales can avail themselves of this funding. To learn more about postgraduate loans and submit your application, visit the postgraduate loans page on gov.uk (for England) or the Student Finance Wales website.
The following information is for UK nationals, UK permanent residents and EU citizens residing in England and Wales:
If you are a student starting your master’s programme in August 2017 or later, you can be eligible to borrow up to a maximum of £10,280 through Student Finance England or Student Finance Wales for tuition and study-related expenses. The loan will be paid into your personal UK bank account in nine total instalments over the course of three years.
The loan is not based on your family’s income, and you can apply for a postgraduate loan up to nine months from the first day of your academic year. To ensure continuous funding, you are required to stay on track to complete your programme within the standard course duration of three years.
It is very important that you do not select the “Main Campus” course. If you do, your loan disbursements may be delayed by several weeks.
The first year’s payments will be released following the submission of a Confirmation of Attendance from the University of Liverpool that you have been undertaking your course for at least two weeks.
Payments for year 2 and 3 will be released following annual attendance confirmations from the University of Liverpool that you are on track to complete your programme within three academic years.
You can apply for a postgraduate loan if you are studying for an online master’s degree, you are aged under 60 on the first day of the programme, and all of the following apply:
*This requirements might not apply if you are:
You may also be eligible if you are an EU national and all of the following apply:
You could also be eligible if you are:
You will not be able to receive a postgraduate loan if any of the following apply:
Students who have started their programmes 1 August 2017 or later can borrow up to £10,280 in total.
The loan will be paid into your UK bank account over three years in nine instalments.
You will be charged interest from the day you get the first payment until the loan is repaid in full or cancelled.
Interest is charged at the Retail Price Index (RPI) plus 3% from the day you get your first payment until your loan is paid in full.
You will repay your Postgraduate Loan in line with the regulations at the time you enter repayment.
Please be sure to check with the Gov.uk postgraduate loans page (for England) and Student Finance Wales directly:
Gov.uk postgraduate loans page: www.gov.uk/postgraduate-loan
Student Finance Wales www.studentfinancewales.co.uk/postgraduate-students
When you take out your postgraduate loan, the repayment terms will be based on current regulations. This means that when you enter repayment, the terms may be different. It is your responsibility to check with the Gov.uk postgraduate loans page (for England) or Student Finance Wales directly and make sure that you have the most up-to-date information.
The following information covers the current (July 2017) repayment terms:
You earn £2,500 a month before tax. This is £750 over the monthly threshold. You will repay £45 (6% of this amount) each month.
A repayment will be taken even if you do not earn £21,000 in a year but exceed the weekly or monthly threshold at any time, for example if you work overtime or get a bonus.
You must repay any undergraduate student loans that you have at the same time.
Repaying your Postgraduate Loan
For students in England:
To learn more about your potential funding options, contact out student support team on firstname.lastname@example.org
The information provided on this page is for guidance only. The terms of your loan and the eligibility criteria may differ from what is stated here, so please be sure to carefully review the information, loan application and documents provided by the Student Loans Company - Student Finance England or Student Finance Wales. The University of Liverpool and Laureate Online Education are not responsible for these loans. Students using the Postgraduate Loan to fund their online master’s degree are required to stay on track to complete their programme within the standard course duration of three years.