SLC has launched its student finance application service for part time and post graduate master’s students in England.
Eligible part-time students can apply for a Tuition Fee Loan as well as a Maintenance Loan to help with their living costs.
Students starting master’s degrees could get a Postgraduate Master’s Loan to help them with tuition fees and living costs.
Post graduate doctoral students in England will be able to apply for funding later in the month.
Derek Ross, SLC Executive Director of Operations said: “I’m delighted to advise that the application service for part time and post graduate master’s students is now open. As always, our advice is to apply now to ensure funding is in place before the start of term.
“The easiest way to apply is online and you can do so now even if you don’t have a confirmed place at university.”
Key facts about Part time Student Finance
- Part-time students can apply for Tuition Fee Loans. If your course started on or after 1 August 2018 you can also apply for a Maintenance Loan.
- The amount of Maintenance Loan you get depends on where you live while studying, your household income and your course intensity (we measure this by asking you how many module credits you’ll study – check with your university or college if you’re not sure).
- You need to reapply for funding for each year of your course.
- You start repaying your loan the April after you finish or leave your course or the April four years after the start of your course (even if you are still studying), whichever comes first. You repay 9% of what you earn over the repayment threshold which is currently £26,575 per annum.
Key facts about the Post Graduate Master’s Loan
- You can get up to £11,222 to help with course fees and living costs
- The amount you get is not based on your income or your family’s
- You only need to apply once even if your course is longer than a year. The loan is divided equally across each year of the course.
- You start repaying your Postgraduate Master’s Loan the April after you finish or leave your course. You repay 6% of what you earn over the repayment threshold, which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
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