UK master's loans | University of Oxford

UK master's loans

The UK government has launched a new loans scheme for full-time and part-time master’s courses from 2016/17 entry.

An overview of Master's loans, details of how to apply and personal eligibility criteria is available on the website of your regional funding agency.

The information provided below on repayments and interest rates is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.

How much is the loan?

The type and amount of loan you can apply for depends on where you are ordinarily resident and the year you started your course.

 EnglandWalesScotland Northern Ireland  European Union
2016-entry£10,000 loan for tuition and living costsN/AN/AN/A£10,000 loan for tuition and living costs
2017-entry£10,280 loan for tuition and living costs£10,280 loan for tuition and living costs£5,500 tuition fee loan and £4,500 loan for living costs£5,500 tuition fee loan£10,280 loan for tuition and living costs

Your loan will be divided equally between each year of your course.

2016-entrants only: If your course is longer than one year then you can receive up to a maximum of £5,000 in your first year, and the remainder in the second year. If you’re studying part time you can only receive payments in the first two years of your course.

How is the loan paid?

The manner is which your loan is paid depends on where you are ordinarily resident.

England, Wales and the EU

The loan will be paid into your bank account in three instalments during the academic year. 

You will receive your first payment once you have started your course and registered with the University. Your second instalment will be paid on the last Wednesday of the fourth month after your course start date and your third instalment on the last Wednesday of the seventh month after this date. For example, if you start your course in October your payments should be as follows:

1st paymentOnce you are on-course and registered
2nd payment28 February 2018
3rd payment30 May 2018

Scotland

The loan for living costs will be paid directly to you by the Student Loans Company, who will send you a payment schedule one month before the start of your course. The tuition fee loan will be paid directly to the University in three instalments during the academic year.

Northern Ireland

The tuition fee loan will be paid directly to the University in three instalments during the academic year.

Course eligibility

England, Wales and the rest of the EU

Taught, research or professional stand alone master’s courses in any subject (eg MSt, MSc, MSc(Res), MPP, MBA, MPhil). The loan is not available for those students undertaking a partial master’s course requiring a lesser number of credits as a result of previous study.

Eligible postgraduate master’s courses must be either 1 or 2 years full-time in duration or 2 to 4 years part-time at a minimum 50% intensity of full-time. 2 and 3 year part-time courses with no full-time equivalent are also eligible, with no minimum intensity requirement.

List of eligible Oxford courses for 2016/17 entry

Course TypeSubjectFull time/Part time
BCLBachelor of Civil LawFT
BPhilPhilosophyFT
EMBAExecutive MBAPT
MBAMaster of Business AdministrationFT
MFAFine ArtFT*
MFAFine ArtPT*
MJurMagister JurisFT
MPhilArchaeologyFT
MPhilBritish and European History, from 1500 to the PresentFT
MPhilBuddhist StudiesFT
MPhilCeltic StudiesFT
MPhilClassical ArchaeologyFT
MPhilClassical Indian ReligionFT
MPhilComparative Social PolicyFT
MPhilCuneiform StudiesFT
MPhilDevelopment StudiesFT
MPhilEastern Christian StudiesFT
MPhilEconomic and Social HistoryFT
MPhilEconomicsFT
MPhilEgyptologyFT
MPhilEnglish Studies (Medieval Period)FT
MPhilEvidence-Based Social Intervention and Policy EvaluationFT
MPhilGeneral Linguistics and Comparative PhilologyFT
MPhilGeography and the EnvironmentFT
MPhilGreek and/or Latin Languages and LiteratureFT
MPhilGreek and/or Roman History FT
MPhilHistory of Science, Medicine and TechnologyFT
MPhilInternational RelationsFT
MPhilIslamic Art and ArchaeologyFT
MPhilIslamic Studies and HistoryFT
MPhilJewish Studies in the Graeco-Roman PeriodFT
MPhilJudaism and Christianity in the Graeco-Roman WorldFT
MPhilLate Antique and Byzantine Studies FT
MPhilLatin American StudiesFT
MPhilMedical AnthropologyFT
MPhilModern Chinese StudiesFT
MPhilModern Japanese StudiesFT
MPhilModern Jewish StudiesFT
MPhilModern LanguagesFT
MPhilModern Middle Eastern StudiesFT
MPhilModern South Asian StudiesFT
MPhilMusic (Composition)FT
MPhilMusic (Musicology)FT
MPhilMusic (Performance)FT
MPhilPhilosophical TheologyFT
MPhilPolitics (Comparative Government)FT
MPhilPolitics (European Politics and Society)FT
MPhilPolitics (Political Theory)FT
MPhilRussian and East European StudiesFT
MPhilSlavonic StudiesFT
MPhilSocial AnthropologyFT
MPhilSociology and DemographyFT
MPhilTheologyFT
MPhilTibetan and Himalayan StudiesFT
MPhilTraditional East AsiaFT
MPhilVisual, Material and Museum AnthropologyFT
MPPPublic PolicyFT
MScAfrican StudiesFT
MScApplied Landscape ArchaeologyPT
MScApplied Linguistics and Second Language AcquisitionFT
MScApplied Linguistics and Second Language AcquisitionPT
MScApplied StatisticsFT
MScArchaeological ScienceFT
MScBiodiversity, Conservation and ManagementFT
MScClinical EmbryologyFT
MScCognitive and Evolutionary AnthropologyFT
MScComparative Social PolicyFT
MScComputer ScienceFT
MScContemporary Chinese StudiesFT
MScContemporary IndiaFT
MScCriminology and Criminal JusticeFT
MScEconomic and Social HistoryFT
MScEconomics for DevelopmentFT
MScEducation (Child Development and Education)FT
MScEducation (Comparative and International Education)FT
MScEducation (Higher Education)FT
MScEducation (Learning and Technology)FT
MScEducation (Research Training)FT
MScEndovascular Neurosurgery (Interventional Neuroradiology)FT
MScEndovascular Neurosurgery (Interventional Neuroradiology)PT
MScEnvironmental Change and ManagementFT
MScEvidence-Based Social Intervention and Policy EvaluationFT
MScFinancial EconomicsFT
MScGlobal Governance and DiplomacyFT
MScGlobal Health ScienceFT
MScHistory of Science, Medicine and TechnologyFT
MScIntegrated ImmunologyFT
MScInternational Health and Tropical MedicineFT
MScLatin American StudiesFT
MScLaw and FinanceFT
MScLearning and Teaching*PT
MScMajor Programme ManagementPT
MScMathematical and Computational FinanceFT
MScMathematical and Theoretical PhysicsFT
MScMathematical FinancePT
MScMathematical Modelling and Scientific ComputingFT
MScMathematics and Foundations of Computer ScienceFT
MScMedical AnthropologyFT
MScMigration StudiesFT
MScModern Japanese StudiesFT
MScMusculoskeletal SciencesPT
MScNature, Society and Environmental GovernanceFT
MScNeuroscienceFT
MScPharmacologyFT
MScPolitical Theory ResearchFT
MScPolitics ResearchFT
MScPsychological ResearchFT
MScRadiation BiologyFT
MScRefugee and Forced Migration StudiesFT
MScRussian and East European StudiesFT
MScSleep MedicinePT
MScSocial AnthropologyFT
MScSocial Science of the InternetFT
MScSocial Science of the InternetPT
MScSociologyFT
MScSustainable Urban DevelopmentPT
MScTaxationPT
MScTeacher EducationPT
MScTeaching English Language in University SettingsPT
MScTheoretical and Computational Chemistry (Stand-Alone)FT
MScVisual, Material and Museum AnthropologyFT
MScWater Science, Policy and ManagementFT
MSc (Res)BiochemistryFT
MSc (Res)Chemical BiologyFT
MSc (Res)Clinical NeurosciencesFT
MSc (Res)Engineering ScienceFT
MSc (Res)Experimental Psychology (direct entry)FT
MSc (Res)Inorganic ChemistryFT
MSc (Res)Mathematics  FT
MSc (Res)Materials   FT
MSc (Res)Musculoskeletal Sciences  FT
MSc (Res)Obstetrics and GynaecologyFT
MSc (Res)OncologyFT
MSc (Res)Organic ChemistryFT
MSc (Res)PharmacologyFT
MSc (Res)Physical and Theoretical ChemistryFT
MSc (Res)Physiology, Anatomy and GeneticsFT
MSc (Res)Primary HealthcareFT
MSc (Res)PsychiatryFT
MSc (Res)StatisticsFT
MSc (Res)Surgical SciencesFT
MStAncient PhilosophyFT
MStArchaeological ScienceFT
MStArchaeologyFT
MStBritish and European History, from 1500 to the PresentFT
MStBritish and European History, from 1500 to the PresentPT
MStCeltic StudiesFT
MStChinese StudiesFT
MStClassical ArchaeologyFT
MStClassical Armenian StudiesFT
MStClassical Hebrew StudiesFT
MStCreative WritingPT
MStEnglish (1550-1700)FT
MStEnglish (1700-1830)FT
MStEnglish (1830-1914)FT
MStEnglish (1900-present)FT
MStEnglish (650-1550)FT
MStEnglish and American StudiesFT
MStFilm AestheticsFT
MStGeneral Linguistics and Comparative PhilologyFT
MStGlobal and Imperial HistoryFT
MStGreek and/or Latin Languages and Literature FT
MStGreek and/or Roman History FT
MStHistory of Art and Visual CultureFT
MStInternational Human Rights LawPT
MStIslamic Art and ArchaeologyFT
MStIslamic Studies and HistoryFT
MStJapanese StudiesFT
MStJewish StudiesFT
MStJewish Studies in the Graeco-Roman PeriodFT
MStKorean StudiesFT
MStLate Antique and Byzantine Studies FT
MStLegal ResearchFT
MStLiterature and ArtsPT
MStMedieval HistoryFT
MStMedieval StudiesFT
MStMindfulness Based Cognitive TherapyPT
MStModern LanguagesFT
MStModern South Asian StudiesFT
MStMusic (Composition)FT
MStMusic (Musicology)FT
MStMusic (Performance)FT
MStOriental StudiesFT
MStPhilosophical TheologyFT
MStPhilosophy of PhysicsFT
MStSlavonic StudiesFT
MStSocio-Legal ResearchFT
MStStudy of ReligionFT
MStTheologyFT
MStUS HistoryFT
MStWomen's StudiesFT
MStWorld Literatures in EnglishFT
MStYiddish StudiesFT
MThApplied TheologyFT
MThApplied TheologyPT

* Postgraduate loan not available to those students transferring credits from a previous PGCE qualification, and therefore starting the course from year 2 or later

List of eligible Oxford courses for 2017/18 entry

Course TypeSubjectFull time/Part time
BCLBachelor of Civil LawFT
BPhilPhilosophyFT
EMBAExecutive MBAPT
MBAMaster of Business AdministrationFT
MFAFine ArtFT
MFAFine ArtPT
MJurMagister JurisFT
MPhilArchaeologyFT
MPhilBiodiversity, Conservation and ManagementFT
MPhilBritish and European History, from 1500 to the PresentFT
MPhilBuddhist StudiesFT
MPhilClassical ArchaeologyFT
MPhilClassical Indian ReligionFT
MPhilComparative Social PolicyFT
MPhilCuneiform StudiesFT
MPhilDevelopment StudiesFT
MPhilEastern Christian StudiesFT
MPhilEconomic and Social HistoryFT
MPhilEconomicsFT
MPhilEgyptologyFT
MPhilEnglish Studies (Medieval Period)FT
MPhilEnvironmental Change and ManagementFT
MPhilEvidence-Based Social Intervention and Policy EvaluationFT
MPhilGeneral Linguistics and Comparative PhilologyFT
MPhilGreek and/or Latin Languages and LiteratureFT
MPhilGreek and/or Roman History FT
MPhilHistory of Science, Medicine and TechnologyFT
MPhilInternational RelationsFT
MPhilIslamic Art and ArchaeologyFT
MPhilIslamic Studies and HistoryFT
MPhilJewish Studies in the Graeco-Roman PeriodFT
MPhilJudaism and Christianity in the Graeco-Roman WorldFT
MPhilLate Antique and Byzantine Studies FT
MPhilLatin American StudiesFT
MPhilMedical AnthropologyFT
MPhilModern Chinese StudiesFT
MPhilModern Japanese StudiesFT
MPhilModern LanguagesFT
MPhilModern Middle Eastern StudiesFT
MPhilModern South Asian StudiesFT
MPhilMusic (Composition)FT
MPhilMusic (Musicology)FT
MPhilMusic (Performance)FT
MPhilNature, Society and Environmental GovernanceFT
MPhilPhilosophical TheologyFT
MPhilPolitics (Comparative Government)FT
MPhilPolitics (European Politics and Society)FT
MPhilPolitics (Political Theory)FT
MPhilRussian and East European StudiesFT
MPhilSlavonic StudiesFT
MPhilSocial AnthropologyFT
MPhilSociology and DemographyFT
MPhilTheologyFT
MPhilTibetan and Himalayan StudiesFT
MPhilTraditional East AsiaFT
MPhilVisual, Material and Museum AnthropologyFT
MPhilWater Science, Policy and ManagementFT
MPPPublic PolicyFT
MScAfrican StudiesFT
MScApplied Landscape ArchaeologyPT
MScApplied Linguistics and Second Language AcquisitionFT
MScApplied Linguistics and Second Language AcquisitionPT
MScArchaeological ScienceFT
MScBiodiversity, Conservation and ManagementFT
MScClinical EmbryologyFT
MScCognitive and Evolutionary AnthropologyFT
MScCognitive Behavioural TherapyPT
MScComparative Social PolicyFT
MScComputer ScienceFT
MScContemporary Chinese StudiesFT
MScCriminology and Criminal JusticeFT
MScCriminology and Criminal JusticePT
MScEconomic and Social HistoryFT
MScEconomics for DevelopmentFT
MScEducation (Child Development and Education)FT
MScEducation (Comparative and International Education)FT
MScEducation (Higher Education)FT
MScEducation (Learning and Technology)FT
MScEducation (Research Design and Methodology)FT
MScEducation (Research Design and Methodology)PT
MScEnglish Local HistoryPT
MScEnvironmental Change and ManagementFT
MScEvidence-Based Social Intervention and Policy EvaluationFT
MScFinancial EconomicsFT
MScGlobal Governance and DiplomacyFT
MScGlobal Health ScienceFT
MScHistory of Science, Medicine and TechnologyFT
MScIntegrated ImmunologyFT
MScInternational Health and Tropical MedicineFT
MScJapanese StudiesFT
MScLatin American StudiesFT
MScLaw and FinanceFT
MScLearning and Teaching*PT
MScMajor Programme ManagementPT
MScMathematical and Computational FinanceFT
MScMathematical and Theoretical PhysicsFT
MScMathematical FinancePT
MScMathematical Modelling and Scientific ComputingFT
MScMathematics and Foundations of Computer ScienceFT
MScMedical AnthropologyFT
MScMicroelectronics, Optoelectronics and CommunicationsPT
MScMigration StudiesFT
MScModern South Asian StudiesFT
MScNature, Society and Environmental GovernanceFT
MScNeuroscienceFT
MScPharmacologyFT
MScPolitical Theory ResearchFT
MScPolitics ResearchFT
MScPsychological ResearchFT
MScRadiation BiologyFT
MScRefugee and Forced Migration StudiesFT
MScRussian and East European StudiesFT
MScSleep MedicinePT
MScSocial AnthropologyFT
MScSocial Science of the InternetFT
MScSocial Science of the InternetPT
MScSociologyFT
MScStatistical ScienceFT
MScSustainable Urban DevelopmentPT
MScTaxationPT
MScTeacher EducationPT
MScTeaching English Language in University SettingsPT
MScTheoretical and Computational Chemistry (Stand-Alone)FT
MScVisual, Material and Museum AnthropologyFT
MScWater Science, Policy and ManagementFT
MSc (Res)BiochemistryFT
MSc (Res)Chemical BiologyFT
MSc (Res)Clinical NeurosciencesFT
MSc (Res)Engineering ScienceFT
MSc (Res)Experimental Psychology (direct entry)FT
MSc (Res)Inorganic ChemistryFT
MSc (Res)Materials   FT
MSc (Res)Mathematics  FT
MSc (Res)Musculoskeletal Sciences  FT
MSc (Res)Obstetrics and GynaecologyFT
MSc (Res)OncologyFT
MSc (Res)Organic ChemistryFT
MSc (Res)PharmacologyFT
MSc (Res)Physical and Theoretical ChemistryFT
MSc (Res)Physiology, Anatomy and GeneticsFT
MSc (Res)Primary HealthcareFT
MSc (Res)PsychiatryFT
MSc (Res)StatisticsFT
MSc (Res)Surgical SciencesFT
MStAncient PhilosophyFT
MStArchaeological ScienceFT
MStArchaeologyFT
MStBible InterpretationFT
MStBritish and European History, from 1500 to the PresentFT
MStBritish and European History, from 1500 to the PresentPT
MStClassical ArchaeologyFT
MStClassical Hebrew StudiesFT
MStCreative WritingPT
MStEnglish (1550-1700)FT
MStEnglish (1700-1830)FT
MStEnglish (1830-1914)FT
MStEnglish (1900-present)FT
MStEnglish (650-1550)FT
MStEnglish and American StudiesFT
MStFilm AestheticsFT
MStGeneral Linguistics and Comparative PhilologyFT
MStGlobal and Imperial HistoryFT
MStGreek and/or Latin Languages and Literature FT
MStGreek and/or Roman History FT
MStHistory of Art and Visual CultureFT
MStHistory of DesignPT
MStInternational Human Rights LawPT
MStIslamic Art and ArchaeologyFT
MStIslamic Studies and HistoryFT
MStJewish StudiesFT
MStJewish Studies in the Graeco-Roman PeriodFT
MStKorean StudiesFT
MStLate Antique and Byzantine Studies FT
MStLegal ResearchFT
MStLiterature and ArtsPT
MStMedieval HistoryFT
MStMedieval StudiesFT
MStModern LanguagesFT
MStMusic (Composition)FT
MStMusic (Musicology)FT
MStMusic (Performance)FT
MStOriental StudiesFT
MStPhilosophical TheologyFT
MStPhilosophy of PhysicsFT
MStSlavonic StudiesFT
MStSocio-Legal ResearchFT
MStStudy of ReligionFT
MStSyriac StudiesFT
MStTheologyFT
MStTraditional ChinaFT
MStUS HistoryFT
MStWomen's StudiesFT
MStWorld Literatures in EnglishFT
MStYiddish StudiesFT
MThApplied TheologyFT
MThApplied TheologyPT

* Postgraduate loan not available to those students transferring credits from a previous PGCE qualification, and therefore starting the course from year 2 or later

Scotland

You will only be eligible for support if your course is not available in Scotland. You will need to submit an application to SAAS, who will determine your course eligibility. If both you and the course are deemed eligible, SAAS will contact the University to confirm the course details before finalising the assessment of your application.

The course must be a taught postgraduate diploma or master’s programme.

Eligible postgraduate master’s courses must be either 1 or 2 years full-time in duration or 2 to 4 years part-time. Diplomas should be no longer than 1 year full-time in duration, or 2 years part-time. Part–time courses should be no longer in duration than twice the length of an equivalent full-time course.

Northern Ireland

Taught, research or professional master’s courses in any subject (eg MSt, MSc, MSc(Res), MPP, MBA, MPhil), postgraduate diplomas and postgraduate certificates.

The course must last no more than three years whether studied full time or part time.

How to apply

Applications for funding in 2017/18 opened in June 2017. You are encouraged to apply as early as possible to ensure that funding is in place for the start of your course.

Will I be charged interest on my loan?

England, Wales and the EU

Interest is charged at the Retail Price Index (RPI) plus 3% from the day your first payment is made until your loan is repaid in full. Please visit the Student Loans Company Repayment Site for further details.

Northern Ireland and Scotland

The interest rate is set by the Department for Education (DfE) each year and is normally based on the Retail Price Index (RPI). Interest will be charge from the day your first payment is made until your loan is repaid in full. Please visit the Student Loans Company Repayment Site for further details.

How do I repay my loan?

You have to repay any loan you borrow, but not until your income is over £21,000 a year. Repayments will be based on your income, not what you borrow.

Students from Scotland and Northern Ireland have a different income threshold. This is currently £17,775 a year, and is expected to increase with inflation each year.

If you’re studying full time you’ll start making repayments the April after you finish or leave your course. If you’re studying part time you’ll start making repayments the April two years after the start of your course or the April after you finish or leave your course, whichever comes first.

However, no repayments will be taken before April 2019 and you’ll only start making repayments once your income is over the current threshold of £404 a week, £1,750 a month or £21,000 a year.

You’ll repay 6% of what you earn over the threshold. So if you’re paid monthly and earn £2,500 before tax you’ll repay 6% of the difference between what you earn and the threshold (£1,750):

£2,500 - £1,750 = £750

6% of £750 = £45

So your Postgraduate Loan repayment would be £45 that month.

Please visit the Student Loans Company Repayment Site for further details.

What if I already have a student loan?

If you’ve had any other loans from the Student Loans Company for your undergraduate course, you’ll also repay these loans. For example if you took a loan for your undergraduate course that started after 1 September 2012, you’ll repay 9% of your income over £21,000 towards that loan and 6% of your income over £21,000 towards your Postgraduate Loan. So you’ll repay 15% of your income over the threshold in total.