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Study at Derby with a Postgraduate Loan
You can now borrow up to £10,280 to study at masters level.
The £10,280 can be used to pay for your tuition fees or other costs associated with studying, such as living costs or course expenses.
Am I eligible?
- You must normally live in England and be under 60 at the start of the first academic year of your course
- You have to be studying a taught or research postgraduate course in the UK that leads to a masters qualifications e.g. MA, MSc, MBA, MEd or LLM
- If you already hold a masters qualification or an equivalent higher level qualification you will not be eligible for the new Postgraduate Loan
- The amount you get doesn't depend on your household income.
To check if you are able to get a Postgraduate Loan for your course at the University of Derby, please contact our Student Records and Fees team.
How do I apply?
You can apply for a Postgraduate Loan using the application service at www.gov.uk/postgraduateloan
You should apply as early as possible to make sure your loan is available for the start of your course.
When will I get paid?
The Student Loans Company will send you a payment schedule to let you know when you'll be paid once your application has been processed.
Depending on which academic year you're applying for, your payment schedule will differ:
Students applying for academic year 2017/18
The total amount you request will be split equally and paid in each academic year (up to a maximum of four if you're studying part-time). For example, if you borrow £10,280 and are studying part-time over four years, you'll be paid £2,750 each year
Students applying for academic year 2016/17
If your course is longer than one year you can get up to £5,000 in your first year and the rest in your second year. If you're studying part-time you can only get payments in the first two years of the course.
Facts about repaying your loan
- Repayments are based on your income, not what you borrowed.
- Interest is charged at the Retail Price Index (RPI) plus 3% from the day we make your first payment until your loan is repaid in full or written off.
- You can make voluntary repayments towards your loan at any time.