What funding is available for Masters study?
If you’re planning to study a Masters degree you can apply to Student Finance England for a Masters Loan of £12,858. Out of this you'll need to pay your tuition fees, then anything you have left over you can use as a contribution towards your living costs. You’ll find more information on the Masters Loan here.
Some courses, such as MA Social Work, MSc Midwifery and MSc Nutrition and Dietetics have separate funding arrangements.
When do I apply for student finance?
Applications for postgraduate student loans usually open in June for September entry.
How do I apply for student finance?
If you’ve taken out a loan with Student Finance England before, use your account to apply.
If you do not already have one, set up an account.
How much are my tuition fees?
Tuition fees vary depending on your course, so it’s best to check your course page to find your fee.
Is there any other funding available to me?
We offer some scholarships to postgraduate students.
We also subscribe to the Alternative Guide to Postgraduate Funding, which is a searchable database of educational charities and trusts offering supplementary funding to postgraduate students. If you are a current student here, you can gain free access to the Alternative Guide to Postgraduate Funding by visiting their login page and creating an account using your University email address.
If you are an applicant, you can gain access to the Alternative Guide to Postgraduate Funding by emailing hefunding@hull.ac.uk.
How do I repay my loans?
You’ll begin repaying your loans once you’ve finished your course and are earning above the repayment threshold, which is currently £21,000. You’ll repay 6% of anything you earn above this threshold, and repayments will be taken directly from your salary if you’re working in the UK.
Masters and Doctoral Loans are repaid in addition to any other student loans. If you started your undergraduate degree and took out student finance between 1 September 2012 and 31 July 2023 you’ll have a Plan 2 loan. Once you’re earning over £27,295 per year you’ll pay 9% of anything you earn above this amount towards your undergraduate loan.
If you have a Plan 2 Loan and take out a Postgraduate Loan, your repayments (based on current thresholds) will look like this:
| Income | PG Monthly Repayments | UG Monthly Repayments | UG+PG Repayments |
|---|---|---|---|
| £21,000 | £0 | £0 | £0 |
| £25,000 | £20 | £0 | £20 |
| £30,000 | £45 | £20 | £65 |
| £50,000 | £145 | £170 | £315 |
| £70,000 | £245 | £320 | £565 |
Does interest apply to the loans?
Yes, interest is added to the balance of your loan from the date the first payment is made. The rate of interest charged is the 3% plus the Retail Price Index, which is a measure of inflation, and changes every year. You can find the current interest rate here.
How do I know whether I’m eligible for a postgraduate loan?
The same basic eligibility criteria apply for both undergraduate and postgraduate student finance, so if you have already taken out student finance and your circumstances haven’t changed you should be eligible for a Masters or Doctoral Loan.
Previous postgraduate study can affect eligibility, so if you’re not sure please get in touch for advice.
How do I contact someone to talk about student finance?
If you want advice, you can contact us at hefunding@hull.ac.uk or 01482 463002. If you’re here for an Open Day or Applicant Day, we’ll also be available for a chat on the ‘Money Matters’ information stand, so check your guide or ask a student ambassador to point you in the right direction.
There are some things you’ll need to speak to Student Finance England about, including checking the progress of your application. You can call them on 0300 100 0607 or log in to your online account to access their live chat, which is available during standard working hours.