1. www.gov.uk/studentfinance 2016/17 POSTGRADUATE LOAN INFORMATION FOR STUDENTS

2. 2016/17 i SECTION CONTENTS Introduction to Postgraduate Loan (PGL) Eligibility overview – personal & course Loan & application overview Repaying Postgraduate Loans Resources & information

3. 2016/17 POSTGRADUATE LOAN AN INTRODUCTION SECTION 1 All Postgraduate Loan policy is subject to Parliamentary approval.

4. SECTION 1 2016/17 Loan support of up to £10,000 (non-means tested) will be available for students starting a postgraduate Master’s course from 1 st 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 POSTGRADUATE LOAN AN INTRODUCTION

5. 2016/17 POSTGRADUATE LOAN ELIGIBILITY OVERVIEW SECTION 1

6. 2016/17 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. POSTGRADUATE LOAN ELIGIBILITY OVERVIEW Temporary absences from living in the UK, such as for education or travelling, will not prevent you from being eligible! i

7. SECTION 1 2016/17 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 POSTGRADUATE LOAN ELIGIBILITY OVERVIEW

8. SECTION 1 2016/17 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. POSTGRADUATE LOAN ELIGIBILITY OVERVIEW 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. i

9. 2016/17 POSTGRADUATE LOAN COURSE ELIGIBILITY SECTION 1

10. 2016/17 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 POSTGRADUATE LOAN COURSE ELIGIBILITY OVERVIEW i Students can confirm with their university that their course is eligible for a Postgraduate Loan.

11. SECTION 1 2016/17 Eligible Master’s courses include the following: MSc (Master of Science) MA (Master of Arts) MPhil (Master of Philosophy) stand alone qualification MRes (Master of Research) stand alone qualification LLM (Master of Law) MLitt(Master of Letters) MFA (Master of Fine Arts) MEd (Master of Education) MBA(Master of Business Administration) POSTGRADUATE LOAN ELIGIBILITY OVERVIEW – ELIGIBLE COURSES

12. SECTION 1 2016/17 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. POSTGRADUATE LOAN ELIGIBILITY OVERVIEW – PREVIOUS STUDY Having a loan(s) from a previous undergraduate course will not affect a students eligibility for a Postgraduate Loan *Students who hold an MA from a Scottish HEI, Oxford, Cambridge or Trinity College, Dublin will be able to apply for a PGL. i

13. SECTION 1 2016/17 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* POSTGRADUATE LOANS ELIGIBILITY OVERVIEW – INELIGIBLE COURSES *For example: Initial Teacher Training (ITT), Integrated Master’s, Master of Architecture (MArch) i

14. 2015/16 2016/17 SECTION 2 POSTGRADUATE LOAN LOAN & APPLICATION OVERVIEW

15. 2016/17 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 POSTGRADUATE LOAN LOAN OVERVIEW

16. 2016/17 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. POSTGRADUATE LOAN DISABLED STUDENTS’ ALLOWANCES (DSAs) See GOV.UK and SFE’s student finance zone on The Student Room for more information on eligibility for DSAs and how to apply. i

17. 2015/16 2016/17 SECTION 2 POSTGRADUATE LOANS APPLICATION OVERVIEW

18. 2016/17 SECTION 2 *This deadline also applies to eligible courses that are studied on a part-time basis over three or four years. i 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* POSTGRADUATE LOAN APPLICATION OVERVIEW

19. 2015/16 2016/17 SECTION 3 POSTGRADUATE LOAN REPAYMENT OVERVIEW

20. 2016/17 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. POSTGRADUATE LOAN REPAYMENT OVERVIEW

21. 2016/17 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! i POSTGRADUATE LOAN REPAYMENT OVERVIEW

22. 2016/17 SECTION 3 Gross annual income 6% deducted from Monthly repayment (Postgraduate Loan) £21,000£0 £25,000£4,000£20 £30,000£9,000£45 £35,000£14,000£70 £40,000£19,000£95 £50,000£29,000£145 £60,000£39,000£195 POSTGRADUATE LOAN REPAYMENT OVERVIEW Repayments from overseas are based on the cost of living in your country of residence and are to be made directly to SLC. i

23. 2016/17 SECTION 3 Gross Annual Income Monthly Repayment (Post 2012 UG Loan) Monthly Repayment (Postgraduate Loan) £21,000£0 £25,000£30£20 £30,000£67£45 £35,000£105£70 £40,000£142£95 £50,000£217£145 With a Post 2012 (Plan 2) Undergraduate Loan and Postgraduate Loan: POSTGRADUATE LOAN REPAYMENT OVERVIEW Repayments from overseas are based on the cost of living in your country of residence and are to be made directly to SLC i

24. 2016/17 SECTION 3 Gross annual income Monthly repayment (ICR Plan 1 UG Loan) Monthly repayment (Postgraduate Loan) Up to £17,495£0 £18,000£4£0 £21,000£27£0 £30,000£94£45 £40,000£169£95 With a Pre 2012 (Plan 1) Undergraduate Loan and Postgraduate Loan: POSTGRADUATE LOAN REPAYMENT OVERVIEW 9% of income above £17,335 repaid to ICR 1Loan balance 6% of income above £21,000, repaid to Postgraduate Loan balance

25. 2016/17 SECTION 4 POSTGRADUATE LOAN INFORMATION & RESOURCES

26. SECTION 4 2016/17 www.thestudentroom.co.uk/studentfinance www.youtube.com/SFEFILM www.twitter.com/sf_england www.facebook.com/SFEngland THE STUDENT ROOM VISIT SFE’S DEDICATED STUDENT FINANCE ZONE Bookmark and regularly check GOV.UK/postgraduateloan and SFE’s social media channels for the latest PGL information. i

27. www.gov.uk/studentfinance 2016/17 NOW IT’S YOUR TURN! QUESTIONS OR COMMENTS?

28. 2016/17 For further information on student finance and applications go to: www.gov.uk/postgraduateloans For a range of helpful tools and guidance, visit the SFE student finance zone: www.thestudentroom.co.uk/studentfinance i i NEED MORE INFORMATION? REMEMBER SFE IS ONLINE