If you are unable to obtain scholarship funding for your studies at Oxford, another option may be taking out a loan to meet your costs.
Loan funding is normally dependent on your country of residence, as it is often linked to government or state-run schemes, so you should contact your local education authority or your government's Department of Education for more information.
If government or local authority funding is not an option (particularly for countries which do not fund students to study abroad), you could look into the possibility of private education loans. UK banks rarely lend funds to non-UK residents, so you will need to approach lending institutions in your home country if you are an international student. UK residents should compare bank loans before making an application; although some UK banks offer loans specifically for graduate students to fund their studies, interest rates and terms and conditions vary widely.
Wherever possible, apply for low interest government loans first and only apply for high interest private loans if you require additional funds. Be aware that some loan programmes may have a limit on the amount of funding that will be provided.
We are aware of a small number of education-specific loan schemes available to graduate students at Oxford and these are listed below by region. These loans and eligibility are subject to change at the relevant organisation's discretion and are beyond the University's control.
UK / EU students
Erasmus + Master loans
Erasmus + Master loans are currently available to master's students from Erasmus+ programme countries (which comprise the 28 EU member states plus the Former Yugoslav Republic of Macedonia, Iceland, Lichtenstein, Norway, Serbia and Turkey) for help with their living and tuition costs. Loans are available for up to €12,000 for a one-year master's course or up to €18,000 for a two-year master's course. You must be studying in a different country from your country of residence and the country where you studied for your first degree.
The following loans are currently available, however you are advised to visit the Erasmus+ Master loans pages for the latest information on the availability of these loans.
Spain: Microbank provides loans to Spanish students studying a master's course in one of the Erasmus+ programme countries, or for students from these countries studying for a master’s course in Spain. Microbank will assess applications and explain the terms of the loan.
Italy: Emil Banca Credito Cooperativo (established in the Emilia Romagna region) provides loans to Italian students studying a master's course in one of the Erasmus+ programme countries
Turkey: QNB Finansbank provides loans to Turkish students studying a master's course in one of the Erasmus+ programme countries
Romania: FINS, part of Educativa Group provides loans to Romanian students studying a master's course in one of the Erasmus+ programme countries
Croatia: PBZ (Privredna Banka Zagreb) provides loans to Croatian students studying a master's course in one of the Erasmus+ programme countries
Canadian students should visit the Government of Canada student loans website for information about the loans the Government of Canada offers to eligible full- and part-time post-secondary students in most provinces and territories.
If you need any loan, enrolment, tuition fee confirmation, deferment or tax forms completed, please email the University’s loans team. It is the US loans team who must complete all forms relating to Canadian loans and tax, rather than your department or college.
If we have completed enrolment forms for your Canadian funding and you later suspend, withdraw or change status, please contact your loan provider to see if any further paperwork must be completed.
If your province or territory is not listed as designated for the University of Oxford, you will need to submit a designation application form. This should be available through your provincial website and once requested should be sent to the University’s loans team who will then submit this on your behalf. Please note that it takes six to eight weeks for a designation application form to be processed by the province and only once this has been approved can you begin your loan application.
Indian students may be eligible for loans through the Credila Indian Student Loan Program offered via Global Education Management Services (GEMS) or through GyanDhan Loan Program available via GyanDhan.