Student Loans for Postgraduate Degrees

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Don’t know how to pay for your postgraduate studies? Let’s look at your choices, which include everything from scholarships to employer financing.

Student Loans


If only everything in life could be free. A postgraduate degree, like an undergraduate degree, comes with a cost in the form of tuition fees and living expenses.
There’s little question that the financial implications of continuing your education are on your mind.
Thankfully, there are a variety of resources available to assist you along the road, including a Postgraduate Loan, university assistance, and even corporate sponsorship. But where do you begin looking for them, and how much can you expect to get? We look into your choices, he says. 
How do you pay for a master’s or doctoral degree? The following are the most effective methods for obtaining finance for a postgraduate degree:

Loans for Postgraduate Students

Student loans from the government will most likely be your first point of contact for postgraduate finance.

Student Loans


While master’s loans are accessible throughout the United Kingdom, PhD loans are only available in England and Wales. But don’t worry if you aren’t qualified for a Student Loan; we have lots of other financial alternatives below. Students pursuing a master’s degree may be eligible for a loan.
In 2021/22, the following are the maximum loans allowed to master’s students in England, Northern Ireland, Scotland, and Wales: 


£11,570 (England) (for tuition fees and living costs)

£5,500 (Northern Ireland) (for tuition fees only)

Scotland – £10,000 (£5,500 university tuition fees, £4,500 living costs)

£18,025 (Wales) (for tuition fees and living costs). 


To learn more about Master’s Loans in your area of the UK, click the links above. 

Loans for PhD students 

It’s worth applying for a Postgraduate Doctoral Loan if you’re doing a PhD and live in England or Wales.


Depending on when your study began, these are the maximum sums you might obtain as a Doctoral Loan:


You can earn up to £27,265 if your course begins on or after August 1, 2021.

£26,445 if your course began on or after August 1, 2020.

If your course began between August 1, 2019 and July 31, 2020, you will get £25,700.

£25,000 if your study began between August 1, 2018 and July 31, 2019. 

Research grants (studentships) 

The primary public investors in research in the UK are the Research Councils, which give funding in a variety of subject areas.
A 2:1 at university level is typically required to be eligible for a studentship, although appropriate work experience can sometimes create an exception. We recommend looking for and applying for research funds in the spring for courses commencing in the fall.
So, how much do you think you’ll be able to get? Students that are awarded a studentship will have their tuition paid for them, as well as a living expense allowance.
For additional information, see the UK Research and Innovation (UKRI) website, as well as jobs.ac.uk, which includes master’s and PhD studentship possibilities. 

University Funding 

The possibilities for university finance for postgraduate studies differ dramatically from one institution to the next. There are a variety of studentships, scholarships, and bursaries available (see below), as well as possible cost reductions for alumni.

Some institutions even provide money for specific courses, such as field trip support or research assistance.

For master’s and doctorate students, the following are some of the most frequent types of university funding: 

Bursaries and Scholarships

Bursaries and scholarships are often awarded to high-potential students in their disciplines, either through the institution, learning funds, or Teaching Assistantships (which we’ll go over in further detail later).
Some fields, such as scientific research, provide more chances than others, so you should conduct your own study on the field you wish to pursue. Please keep in mind that there is a lot of competition! 

Graduate Teaching Assistantships 

Some institutions give graduates the option to teach while finishing their postgraduate study to assist defray costs. This is referred to as a Teaching Assistantship.
The number of hours necessary for studentships varies greatly between universities; for more information, consult the job description for your selected university. The position would most likely need you to conduct seminars and tutorials, as well as grade essays and assignments.
Most students with Teaching Assistantships will get the same sort of support as students with Studentships in the form of a fee waiver and supplementary funds to cover living expenses in exchange for their efforts. 

Scholarships and Awards 

If you succeed in your field of study, your institution or a funding organization may grant you a scholarship or prize.
The amount of money you’ll get depends a lot on which institution you choose and what subject of study you want to pursue. 

Hardship Fund 

If you’re having financial difficulties throughout your course, contact your university’s financial advisers; they’ll have money set aside to assist students in need, and they may be able to assist you.
Universities provide students money from their hardship fund on a case-by-case basis, so funding isn’t assured, but if you’re in need of emergency cash, it’s worth at least talking to them about it. 

Trusts, Foundations, and Charities

There are an increasing number of charities, foundations, and trusts that assist students studying in their chosen area.
Funds for Women Graduates, The Royal Society, and the Welcome Trust are just a few examples.
Look online and talk to individuals at university, such as student support services and your tutor, to learn about other organizations you may contact for financing. 

Employer sponsorship 

Some graduate programmes and positions require you to complete postgraduate work, which can often be supported through an employer sponsorship.
This would be an ideal chance for you to continue your education and improve your employability while still obtaining the cash you require to meet your expenses.
If your employer does not provide a further-study programme, you may need to build a solid business case that explains how it will help you do your work better and bring value to the company.
Always read the fine print of any contract carefully, since you may be forced to repay money owed to you if you quit your job within a certain time frame. 

Part Time Jobs Near Me 

You might work part-time to help with living expenses in addition to applying for the other financing alternatives on this list.
However, keep in mind that certain courses will require more weekly study time than others, so a part-time job may not always be an option. It would be worthwhile, though, if you believe you could do it – and our advice for combining job and study should assist. 
Having a flexible and empathetic boss also makes a significant impact.

Savings and Family

Receiving financial assistance from your family may be quite beneficial if they are willing and able to assist you in funding your education.
Furthermore, we urge that you attempt to save some money before beginning your postgraduate degree.
One alternative is to take a year off, work full-time, and maybe live at home for no or little rent. We understand that you want to jump right into your studies, but you might save a significant amount of money by doing so, making it simpler to get by once you begin your postgrad. 

Crowdfunding for a Master’s Degree

It is not simple to crowdfund your degree, but it is doable.
Many students have told us about successful crowdfunding campaigns that helped them acquire the funds they needed to complete their postgraduate degrees.
If everything else fails and you’re ready to spend a significant amount of time and effort to your campaign, crowdsourcing may be a viable alternative. All of the information you’ll need to get started is in our guide to crowdsourcing a degree. 
You may have also seen advertisements for private student loans from firms like Future Finance. While these loans may look appealing, we highly urge that they be used only as a last resort, after exhausting all other lower-risk options, such as those listed below.


Looking for a way to supplement your income while you study? Working as a private tutor may be the best option.

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