{"id":307,"date":"2025-05-08T14:45:54","date_gmt":"2025-05-08T13:45:54","guid":{"rendered":"https:\/\/blogs.tees.ac.uk\/vibelondon\/?p=307"},"modified":"2025-05-08T14:49:35","modified_gmt":"2025-05-08T13:49:35","slug":"postgrad-tips-student-finance-explained","status":"publish","type":"post","link":"https:\/\/blogs.tees.ac.uk\/vibelondon\/2025\/05\/08\/postgrad-tips-student-finance-explained\/","title":{"rendered":"Postgrad tips- student finance explained"},"content":{"rendered":"<p>You\u2019ve decided to study for a postgraduate qualification, but now you need to fund it. Not sure where to start? We\u2019ve put this blog together to help you apply for your postgraduate student finance.<\/p>\n<p><strong>Find out if you\u2019re eligible<\/strong><\/p>\n<p>If you meet the following criteria, you should be eligible for a postgraduate loan from Student Finance England (SFE), but we recommend checking the government website for the latest updates and for full terms and conditions:<\/p>\n<ul>\n<li>You\u2019re a UK national or you have settled status under the EU Settlement Scheme or indefinite leave to remain so there are no restrictions on how long you can stay<\/li>\n<li>You normally live in England<\/li>\n<li>You\u2019ve been living in the UK for 3 years in a row<\/li>\n<li>You might also be eligible if you\u2019re a UK national (or family member of a UK national) and you\u2019ve been living in the UK, the EU, Gibraltar, Switzerland, Norway, Iceland or Liechtenstein for the past 3 years<\/li>\n<li>You\u2019re under 60.<\/li>\n<\/ul>\n<p><strong>Your SFE application<\/strong><\/p>\n<p>You can apply to SFE for a master\u2019s loan to help with course fees and living costs. You only need to apply once for your master\u2019s loan.<\/p>\n<p>To complete your application, you\u2019ll need:<\/p>\n<ul>\n<li>Your passport (if you have a valid UK passport)<\/li>\n<li>Details of your university and course<\/li>\n<li>Your bank details<\/li>\n<li>Your National Insurance number<\/li>\n<li>Details of the master\u2019s course you have a place on<\/li>\n<li>Contact details for two additional contacts.<\/li>\n<\/ul>\n<p><strong>What you\u2019ll get<\/strong><\/p>\n<p>You can apply for a loan of up to \u00a312,858. Your loan will be split evenly over the length of your course, and you\u2019ll get 3 payments for each academic year. This will be paid directly into your bank account. You get the first payment after your course start date.<\/p>\n<p>You can also get extra support if you have a disability through the disabled student\u2019s allowance (DSA). You can apply for DSA whilst completing your application for funding through SFE.<\/p>\n<p>If you\u2019re applying for a doctoral loan, you could get a loan for up to \u00a330,301. The loan will be divided equally across each year of your course.<\/p>\n<p><strong>Paying your tuition fees and living costs<\/strong><\/p>\n<p>The loan is paid directly to you. Unlike your student loan for your undergraduate degree, you\u2019ll need to pay the University directly for your tuition fees. The rest of your loan can be used to cover living and study costs.<\/p>\n<p>The loan will be divided equally across each year of your course and will be paid in 3 instalments of 33%, 33% and 34% each year. After your application has been approved, you\u2019ll be sent a letter with your payment dates, or you can check them in your online account with SFE.<\/p>\n<p>We will be in touch with the payment dates for your tuition fee.<\/p>\n<p><strong>Paying it back<\/strong><\/p>\n<p>You\u2019ll be charged interest on your loan from the day you get your first payment. This will continue until you\u2019ve fully repaid your loan, or your loan is cancelled after 30 years \u2013 whichever comes first.<\/p>\n<p>You\u2019ll have to repay the loan, but only when you\u2019ve left university and your income is over \u00a321,000 a year.<\/p>\n<p>You\u2019ll repay 6% of your income per year (over \u00a321,000) towards your postgraduate master\u2019s loan. So, if you\u2019re paid monthly and earn \u00a32,500 a month before tax, you\u2019ll repay 6% of the difference between what you earn and the monthly threshold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019ve decided to study for a postgraduate qualification, but now you need to fund it. Not sure where to start? We\u2019ve put this blog together to help you apply for your postgraduate student finance. Find out if you\u2019re eligible If [&hellip;]<\/p>\n","protected":false},"author":25242,"featured_media":308,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[1],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/blogs.tees.ac.uk\/vibelondon\/files\/2024\/05\/TU-LONDON-VIBE-PG-FINANCE-EXPLAINED.png","_links":{"self":[{"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/posts\/307"}],"collection":[{"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/users\/25242"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/comments?post=307"}],"version-history":[{"count":5,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/posts\/307\/revisions"}],"predecessor-version":[{"id":362,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/posts\/307\/revisions\/362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/media\/308"}],"wp:attachment":[{"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/media?parent=307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/categories?post=307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.tees.ac.uk\/vibelondon\/wp-json\/wp\/v2\/tags?post=307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}