How much can I get?

Postgraduate Master's Finance will be paid directly to you as a contribution towards your course and living costs. The amount you can borrow depends on the academic year your course starts in. If you’re studying on or after 1 August 2019 you can apply for Postgraduate Master’s Finance and receive up to £17,000 as a combination of grant and loan:

  • a maximum grant of £6,885 and loan of £10,115 if your household income is £18,370 and below
  • a grant of £1,000 and loan of £16,000 if your household income is not taken into account or is above £59,200.

If your household income is between £18,370 and £59,200, you can still apply for Postgraduate Master’s Finance with your household income taken into account. You will receive some grant and the rest of your entitlement as loan depending on your household income.

If you’re studying for 2, 3 or 4 academic years, the loan and grant will be divided equally across each year of your course.

Example: Postgraduate Master’s course with household income not taken into account

If you’re starting a Postgraduate Master’s course after 1 August 2019 and you do not want your household income taken into account, the maximum Postgraduate Master’s Finance available to you is £17,000. This will be paid the following way depending on the length of your course:

Course length academic yearsMaximum Postgraduate Master's Finance available per year Total (£17,000)
Year 1 Year 2 Year 3 Year 4
1 loan -£16,000
grant - £1,000
2 loan - £8,000
grant - £500
loan - £8,000
grant - £500
3 loan - £5,333
grant - £333
loan -£5,333
grant - £333
loan -£5,334
grant - £334
4 loan -£4,000
grant - £250
loan - £4,000
grant - £250
loan- £4,000
grant - £250
loan - £4,000
grant - £250

Example: Postgraduate Master’s course over 2 years with household income taken into account

If you’re starting a two year Postgraduate Master’s course after 1 August 2019 and you want your household income of £22,000 taken into account, the maximum Postgraduate Master’s grant available to you is £6,362. In addition to this you may decide to take £3,638 in Postgraduate Master’s loan, so you have £10,000 total finance. You will be paid in the following way:

Course year

Loan (Total 3,638)

Grant (Total £6,362)

1

£1,819

£3,181

2

£1,819

£3,181

Example: Postgraduate Master's course over 1 year with household income taken into account

If you’re starting a one year Postgraduate Master’s course after 1 August 2019 and you want your household income of £18,000 taken into account, the maximum amount of Postgraduate Master’s grant available to you is £6,885. You decide to take only your grant entitlement and no loan you will be paid the following way:

Course year

Loan (n/a)

Grant (Total £6,885)

1

0

£6,885

The Department for Work and Pensions (DWP) may take account of the Postgraduate Master’s Finance when working out any benefits you receive.

Getting Paid

You will get the first payment when you start your course, and your university confirms the course you are studying.

Payments will be made in three instalments of 33%, 33% and 34% for each academic year.

Example: 2 year Postgraduate Master’s Course

For example, if you’re studying a two year full-time course starting on or after 1 August 2019 and you have applied for Postgraduate Master’s Finance with your household income not taken into account, you can get up to £17,000 which will be paid in the following way:

Course year

Loan (Total £16,000)

Grant (Total £1,000)

1

  • Payment 1 -£2,640
  • Payment 2 -£2,640
  • Payment 3 - £2,740
  • Total - £8,000
  • Payment 1 -£165
  • Payment 2 -£165
  • Payment 3 - £170
  • Total - £500

2

  • Payment 1 -£2,640
  • Payment 2 -£2,640
  • Payment 3 - £2,740
  • Total - £8,000
  • Payment 1 -£165
  • Payment 2 -£165
  • Payment 3 - £170
  • Total - £500

Care Leavers

If you are a care leaver and under the age of 25 on the first day of the first academic year of your course , you will be awarded the full Postgraduate Master’s grant amount without you having to provide details of your household income.

You will be regarded as a care leaver if at any point from the age of 14 to the first day of the first academic year of your course:

  • you have not been in the legal care of your parents for a combined total of at least 13 weeks;
  • were under a special guardianship order, in the custody or legal care of, or have been given accommodation by a Local Authority for at least 13 weeks

If you returned to the legal care of your parents between the ages of 14 and 16 (before the start of your course), you may still be considered a care leaver.

Estrangement

If you are under 25 and have had little or no contact with your parent (s), you will still be able to apply for student finance based on your household income. As part of your application you will need to send us confirmation of your circumstances from a professional person, outside of your family. This could be:

  • a letter from your social worker
  • a letter from your Jobcentre Plus office showing you got benefits because of your situation
  • a letter from an advice worker, personal tutor or teacher, or
  • a letter from your doctor.


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