2016/17 Postgraduate Loan Information and Eligibility Overview
The content provides detailed information about the Postgraduate Loan scheme available in the 2016/17 academic year in the UK. It covers aspects such as eligibility criteria, loan amounts, the purpose of the loan, and support for students pursuing postgraduate Master's courses. The introduction section highlights the aim of widening access to higher education and reducing self-funding burdens. It also outlines eligibility requirements for UK nationals, settled status individuals, and EU students residing in the EEA/Switzerland.
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2016/17 www.gov.uk/studentfinance
SECTION CONTENTS i Introduction to Postgraduate Loan (PGL) Eligibility overview personal & course Loan & application overview Repaying Postgraduate Loans Resources & information 2016/17
POSTGRADUATE LOAN AN INTRODUCTION SECTION 1 All Postgraduate Loan policy is subject to Parliamentary approval. 2016/17
POSTGRADUATE LOAN AN INTRODUCTION SECTION 1 Loan support of up to 10,000 (non-means tested) will be available for students starting a postgraduate Master s course from 1st August 2016: Why is the Postgraduate Loan being introduced? To widen access and participation in Master s level courses and help ensure the UK can meet demands for highly skilled workers The lack of available funding means that many postgraduate students are self-funded Currently 72% of taught Master s students fund their degrees through personal savings, family contributions or bank loans 2016/17
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW SECTION 1 2016/17
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW SECTION 1 A new Postgraduate Loan will be available to UK nationals and those with settled status (aged under 60) in the UK who: have been ordinarily resident in the UK and Islands for three years on the first day of the first academic year of their course, have been most recently resident in England*, and have not moved to England from elsewhere in the UK and Islands solely for the purpose of attending the course. *Three years address history will be required at application stage. Temporary absences from living in the UK, such as for education or travelling, will not prevent you from being eligible! 2016/17 i
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW SECTION 1 A Postgraduate Loan will also be available if you are an EU student (under 60) who has been ordinarily resident in the EEA /Switzerland for the three years prior to the first academic year start date. You may also be eligible if you are: a refugee under Humanitarian Protection an EEA or Swiss Migrant Worker a family member of any of the previous categories a child of a Swiss National or child of a Turkish Worker 2016/17
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW SECTION 1 Eligible postgraduate courses may be delivered by an authority funded HE provider (or alternative providers with degree-awarding powers) in the UK: However, residency can effect where you can study: UK students can attend an eligible course anywhere in the UK; or study an eligible distance learning course, while resident in England. EU students must be attending a course delivered in England; or undertaking a distance learning course delivered in England. Your course may have an overseas element but this cannot exceed 50% of the total course, and it must be awarded by a UK HEP. 2016/17 i
POSTGRADUATE LOAN COURSE ELIGIBILITY SECTION 1 2016/17
POSTGRADUATE LOAN COURSE ELIGIBILITY OVERVIEW SECTION 1 Courses eligible to attract the loan will result in a postgraduate Master s qualification (taught, research or professional) in any subject: Courses need to be at Level 7, usually attracting 180 credits with 150 of these at level 7. Eligible courses must be either 1 or 2 years full-time in duration. The loan will be available for part-time postgraduate Master s courses. Part-time course duration may be up to four years when studied part Students can confirm with their university that their course is eligible for a Postgraduate Loan. 2016/17 i
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW ELIGIBLE COURSES SECTION 1 Eligible Master s courses include the following: MSc MA MPhil MRes LLM MLitt MFA MEd MBA (Master of Science) (Master of Arts) (Master of Philosophy) stand alone qualification (Master of Research) stand alone qualification (Master of Law) (Master of Letters) (Master of Fine Arts) (Master of Education) (Master of Business Administration) 2016/17
POSTGRADUATE LOAN ELIGIBILITY OVERVIEW PREVIOUS STUDY SECTION 1 Having a loan(s) from a previous undergraduate course will not affect a students eligibility for a Postgraduate Loan Students can only get a Postgraduate Loan if they don t already hold a postgraduate Master s qualification* or another higher level qualification, such as a PhD. A student will not be able to take a second Postgraduate Loan, even if they don t finish their first course. Additional funding may be available if a student needs to repeat a year due to compelling personal reasons, such as illness. *Students who hold an MA from a Scottish HEI, Oxford, Cambridge or Trinity College, Dublin will be able to apply for a PGL. 2016/17 i
POSTGRADUATE LOANS ELIGIBILITY OVERVIEW INELIGIBLE COURSES SECTION 1 Postgraduate Loans are not available for: Postgraduate Doctoral degrees (PhD); Master s degrees undertaken as an integral part of a Postgraduate Doctoral Degree; Other postgraduate level courses including Postgraduate Certificates (PgCert) and Postgraduate Diplomas (PgDip); Courses with a postgraduate element that are currently eligible for undergraduate support* *For example: Initial Teacher Training (ITT),Integrated Master s, Master of Architecture (MArch) 2016/17 i
POSTGRADUATE LOAN LOAN & APPLICATION OVERVIEW SECTION 2 2015/16 2016/17
POSTGRADUATE LOAN LOAN OVERVIEW SECTION 2 The 10,000 loan will be paid directly to you and is a contribution towards course costs, not specifically for either your course fees or living costs. Loan capped at 5,000 in year one of a course lasting two years or more. Loan is paid in three instalments, split as 33% - 33% - 34% of the total amount you request (There is no minimum loan request amount). For part-time courses, payments are made over the first two years of your course, even if it lasts for three or four years. You can amend the amount of loan requested up to one month before the end of the academic year 2016/17
POSTGRADUATE LOAN DISABLED STUDENTS ALLOWANCES (DSAs) SECTION 2 Disabled Students Allowances provide help towards the additional costs a student may face as result of their disability, including a mental-health condition or specific learning difficulty Eligible PGL students may be entitled to DSAs of up to 10,362. DSAs support: is available in addition to a Postgraduate Loan, does not have to be repaid, is not affected by household income, looks at the specific needs of an individual student. 2016/17 i See GOV.UK and SFE s student finance zone on The Student Room for more information on eligibility for DSAs and how to apply.
POSTGRADUATE LOANS APPLICATION OVERVIEW SECTION 2 2015/16 2016/17
POSTGRADUATE LOAN APPLICATION OVERVIEW SECTION 2 You will be able to apply for Postgraduate Loans from late June 2016. When it's time to apply go to www.gov.uk/postgraduateloan You only need to apply once per course - no need to apply each year. But, you must apply for PGL within: nine months of the first day of the academic year for a one year course, or nine months of the first day of the second academic year for a two year course* *This deadline also applies to eligible courses that are studied on a part-time basis over three or four years. 2016/17 i
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 2015/16 2016/17
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 Repayment of a Postgraduate Loan will be income contingent and start once you have an annual income of 21,000 or more. Loan repayments will be due from the April after course completion (or, the April two years after the start of your course if studying part time), subject to meeting the annual income threshold. If you start a course in 2016/17, you will not until April 2019 at the earliest You can make voluntary repayments any time, even before April 2019. Any outstanding Postgraduate Loan balance will be written off 30 years after the date you enter repayment. 2016/17
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 Postgraduate Loan repayment will be calculated at 6% of any income you earn above the 21,000 threshold (E.g. If earning 25,000, your repayments would be 20 per month). Interest will be calculated at the Retail Price Index plus 3% and will accrue from the date the first loan instalment is paid to you. Postgraduate Loans will not affect the repayment of any other student loans you have, you will repay these at the same time. If you are going to live or work abroad after you finish your course you must contact us to arrange repayments. Make sure you understand the repayment terms and conditions before submitting your loan application! 2016/17 i
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 Gross annual income 21,000 25,000 30,000 35,000 40,000 50,000 60,000 6% deducted from 0 4,000 9,000 14,000 19,000 29,000 39,000 Monthly repayment (Postgraduate Loan) 0 20 45 70 95 145 195 Repayments from overseas are based on the cost of living in your country of residence and are to be made directly to SLC. 2016/17 i
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 With a Post 2012 (Plan 2) Undergraduate Loan and Postgraduate Loan: Gross Annual Income 21,000 25,000 30,000 35,000 40,000 50,000 Monthly Repayment (Post 2012 UG Loan) Monthly Repayment (Postgraduate Loan) 0 30 67 105 142 217 0 20 45 70 95 145 Repayments from overseas are based on the cost of living in your country of residence and are to be made directly to SLC 2016/17 i
POSTGRADUATE LOAN REPAYMENT OVERVIEW SECTION 3 With a Pre 2012 (Plan 1) Undergraduate Loan and Postgraduate Loan: Gross annual income Monthly repayment (ICR Plan 1 UG Loan) Monthly repayment (Postgraduate Loan) 0 0 Up to 17,495 18,000 4 0 27 0 21,000 30,000 40,000 94 169 45 95 9% of income above 17,335 repaid to ICR 1Loan balance 6% of income above 21,000, repaid to Postgraduate Loan balance 2016/17
POSTGRADUATE LOAN INFORMATION & RESOURCES SECTION 4 2016/17
THE STUDENT ROOM VISIT SFE S DEDICATED STUDENT FINANCE ZONE SECTION 4 www.thestudentroom.co.uk/studentfinance www.facebook.com/SFEngland www.twitter.com/sf_england www.youtube.com/SFEFILM Bookmark and regularly check GOV.UK/postgraduateloan and SFE s social media channels for the latest PGL information. 2016/17 i
2016/17 www.gov.uk/studentfinance
NEED MORE INFORMATION? REMEMBER SFE IS ONLINE i For further information on student finance and applications go to: www.gov.uk/postgraduateloans i For a range of helpful tools and guidance, visit the SFE student finance zone: www.thestudentroom.co.uk/studentfinance 2016/17
