Your funding package
Postgraduates fund their studies in lots of different ways
Unlike undergraduates, postgraduates fund their studies in lots of different ways. There could be a range of funding options available to you.
The most common sources of funding are:
- Government postgraduate loan schemes
- Employer sponsorship
- Professional and Career Development Loans
- Earn while you learn
- Student Support Fund
- Funding for students with a disability
Contact a student advisor
Contact one of our student advisors for expert financial advice and guidance.
Government postgraduate loan scheme - students from England, Wales and the EU
Borrow up to £10,280
If you are eligible you could borrow up to £10,280 (2017 rate) as part of the government’s postgraduate loan for masters courses.
The loans will be available to students studying a full-time or part-time course that starts from September 2018 onwards. Part-time courses need to be studied at 50% intensity of the full-time equivalent.
Once your course is completed, you will not need to start repaying your loan until the following April and you will only begin to pay back your loan when you are earning more than £21,000. Repayments will be made at a rate of 6% of your income above the £21,000 threshold.
Am I eligible?
If you’re studying an eligible course, the following students should be able to receive the postgraduate loan:
- Students who are ordinarily resident in England, Wales or the EU. See below scheme for students from Northern Ireland.
- Students under the age of 60 at the start of their course
- Those who already have a masters level qualification will not be eligible
Eligible courses include:
Please note, this list is not exhaustive. To be eligible, courses need to be full masters standalone courses.
Courses that are not eligible
Postgraduate Certificate and Postgraduate Diploma courses are not eligible.
See the links below for further information. For information about postgraduate loans in Wales, visit Student Finance Wales.
Postgraduate loans for students from Northern Ireland
The Northern Irish government is also introducing a loan for students commencing postgraduate study from September 2018 onwards. Unlike the loan for students from England and Wales this scheme offers a loan for tuition fees only with no funding available from the NI government for living costs. The loan for tuition fees will be paid direct to LJMU.
The maximum loan for those starting in 2018 is £5,500 per course (2017 rate). Please note this means in some instances the loan will not cover your tuition fees in full and you will need to make alternative arrangements to pay the balance as well as source funding for your living costs.
Professional and Career Development Loan
Value: Up to £10,000
A Professional and Career Development Loan (PCDL) is a bank loan, which you pay back once you’ve completed your course. If you are eligible for a PCDL, you could receive between £300 and £10,000. You don’t have to repay your loan until after your course has ended.
The PCDL can be used to fund up to two years of study, or three if your course includes work experience. The loan is split into course fees and living costs. While you are studying, any interest on your loan will be paid for by the Skills Funding Agency.
Enhance your career
Employer sponsorship is when your employer contributes to or pays for the cost of your postgraduate study.
If you haven’t approached your employer about sponsorship yet, take a look at our courses and see if there any programmes that could enhance your current career. Once you’ve found a course, talk to your manager or the person responsible for employee training at your company.
As well as sponsoring your study in a financial sense, your employer may let you work flexibly too.
Earn while you learn
Studying part time can allow you to work while you study. Part-time work means you may be able to pay for your course without taking out further loans.
At the very least, part-time work should help you to reduce the amount you will need to borrow.
Student Support Fund
Unexpected situations and financial hardship
The Student Support Fund is intended to help students who are experiencing unexpected situations, such as a broken washing machine, or financial hardship, such as supporting a child.
You do not need to be completely without funds to apply. We advise that you apply for the Student Support Fund before you are in financial difficulty.
Priority is given to students who:
- are in their final year of study
- have children or caring responsibilities
- have an ongoing health condition or disability
However, all students can apply and will be considered on a case-by-case basis.
To apply for the Student Support Fund, you will need to complete and return the Student Support Fund form.