KBS_Icon_questionmark link-ico

Postgraduate Master's Loans 2020-21

Postgraduate Master's Loans of up to £11,222 are available to new Master's degree students in 2020-21.

What is the Postgraduate Master's Loan?

The Postgraduate Master's Loan operates in much the same way as your undergraduate student loan for maintenance.

You can apply for a non-means tested loan up to £11,222, and these funds can be used for both tuition fees and living costs.

The Postgraduate Master's loan is administered by Student Finance England (SFE). 

Funding for postgraduate loans is different if you normally live in ScotlandWales or Northern Ireland.

Applications open in early summer, usually in May/June and can take between 6-8 weeks to be assessed by student finance, we recommend all students make their applications as soon as possible in order to have all funding in place by the start of term.

Please visit the Student Finance England website for further information and to apply online

Once your application has been assessed you will receive an entitlement letter - please make sure all amounts are as you requested. Where you intend to use your loan to cover part or all of your Tuition Fees for 2020/21 then you will be required to email a copy of your entitlement letter to Credit.Control@kcl.ac.uk quoting your name and student ID number. For further information please visit the credit control web page about Post Graduate SLC Loans. 

Am I eligible?

To be able to apply for a Master's loan you must:

  • be a UK or EU national* who has lived in England or the EEA or Switzerland for the last three years for a reason other than study

  • be aged 59 or under on the start date of your course

*The Government has confirmed that EU students starting university in the 2020/21 academic year will have access to Student Finance England funding for the duration of their course in England.

Please see here for further information on the continuation of EU student funding for 2020/21.

You cannot get a Master's loan if:

  • you are eligible for an NHS bursary or have been awarded a Social Work Bursary

  • you have successfully completed an equivalent level qualification, regardless of whether it was self-funded, or undertaken abroad.

Note on previous study: If you have either studied at an equivalent level but did not achieve the qualification and did not take out the loan, or did take out the loan but did not achieve the qualification due to compelling personal reasons, then you may still be eligible for funding.

Is my chosen course eligible?

To receive a Master's loan, your course must:

  • be full standalone master's course not a ‘top up’ from a lower-level qualification

  • be worth 180 credits

  • have started on or after 1 August 2016

  • be provided by a UK university

The course can be taught or research-based and one of the following:

  • Full-time, lasting 1 or 2 academic years

  • Part-time, lasting 2 to 4 academic years - no more than twice the length of the equivalent full-time course

  • Part-time for up to 3 years, where no full-time equivalent exists

  • distance learning but only if you are living in England on the first day of the academic year and stay living within the UK for the full duration of the course

Examples of postgraduate master’s qualifications include:

  • MSc  (master of science)

  • MA  (master of arts)

  • MPhil  (master of philosophy)

  • MRes  (master of research)

  • LLM  (master of law)

  • MLitt  (master of letters)

  • MFA  (master of fine art)

  • MEd  (master of education)

  • MBA  (master of business administration) 

Note on Integrated master’s: The Postgraduate Loan is not available for any integrated master’s course. You should apply for undergraduate funding instead.

How and when do I receive my loan?

Payments are made to your bank account in three equal instalments over the course of the academic year (usually September, January and April).

Once you have fully enrolled at King’s the Student Funding Office will confirm your registration to SFE which will trigger the release of the first instalment to you.

The total loan will be divided equally across each year(s) of your course.

You must have a UK bank or building society account in your own name.

Please contact the Credit Control Department at King’s to inform them that you are receiving the loan. They will reschedule your tuition fee payments into three equal instalments in line with your loan instalments.

Repaying your student loan

Repayments are made through automatic salary deduction at 6% of your income above the following thresholds: £404 p/w or £1,750 p/m (before tax and other deductions). 

If you are self-employed, HM Revenue and Customs (HMRC) will calculate how much you must repay based on your annual self-assessment tax return.

Interest will be charged from the day of the first payment until the loan is repaid in full or cancelled. The interest rate is Retail Price Index (RPI) + 3%. This is updated in September each year using the RPI from March of that year.

Any outstanding debt will be written off 30 years after the date on which the loan became due for repayment.

Undergraduate and postgraduate loans are paid simultaneously. If you have a Master's and a Doctoral loan you will pay back a single postgraduate debt.

What if I need to interrupt or withdraw from my course?

Please see this guide by Student Finance England.

You should ensure you speak to a Student Advsior or the Student Funding team at King's too.


The College has tried to give students an early opportunity to begin their research of student funding. Although every effort has been made to ensure that information provided is both helpful to prospective candidates and accurate at the time of its publication, it is possible that some information may be outdated or superseded before the start of the 2019-20 academic year.

Explore King’s

Accommodation Take a look at our comfortable, safe residences to suit your budget, located close to King's teaching campuses. 
Student life Art, food, music, shopping – you'll never find yourself with nothing to do in the world's most vibrant city.
Extra-curricular Discover the huge variety of extra-curricular opportunities at King’s, from MOOCs to language courses.
London living With four campuses by the River Thames and one in south London, King's is right in the heart of the capital.

Next steps

View our postgraduate guide

Learn more about postgraduate degree programmes at King's.

View guide