If you are unable to obtain scholarship funding for your studies at Oxford, another option may be take 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.
UK / EU students
UK master's loans
Loans of up to £10,000 for students studying eligible full-time and part-time master’s courses. Please see our UK master’s loans page for more information.
Erasmus + Master loans
The Erasmus + Master loan is a new student loan programme, launched in 2015. The loan is to help master's students from Erasmus+ programme countries (which comprise the 28 EU member states plus the Former Yugoslav Republic of Macedonia, Iceland, Lichtenstein, Norway and Turkey) 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 first loans are available from French and Spanish banks, as outlined below. Launch dates for loans from other Erasmus+ programme countries will vary, as the availability of loans is dependent upon the necessary financial frameworks being in place.
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.
France: BPCE bank has recently joined the scheme and is offering loans to French 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 France. Students can apply for the loans directly with the BPCE banks (Banque Populaire and Caisse d'Epargne) in France.
More information, details of eligibility and how to apply for the loans as they become available can be found on the Erasmus+ website.
Professional and Career Development Loans (PCDL)
These loans are bank loans to pay for courses and training that help with your career or help get you into work, usually offered with a reduced interest rate and with the interest paid by the government for two years while you are undertaking your course. Loans are between £300 and £10,000 and can cover fees and living costs, with fees payable directly to your college. Loans are available for courses that last up to two years, therefore DPhil courses are not eligible. You must have been living in the UK for at least three years before your course starts and plan to work in the UK, European Union (EU) or European Economic Area (EEA) after your course. Oxford's colleges are individually registered for these loans and you should contact your college directly for their registration number. For more information, to find out which banks offer the loan and to order an application pack visit the Gov.uk website or call 0800 100 900. The registration process is sometimes lengthy, so it is advised that applicants start the application process as early as possible.
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 take out a loan through the Government of Canada or a provincial or territorial government programme and need to have enrolment forms and tuition fee confirmation forms completed, please contact the US loans team.
Indian students may be eligible for loans through the Credila Indian Student Loan Program offered via Global Education Management Services (GEMS).
US private student loans, including Sallie Mae
For information about US private student loans, please see our Private loan page.
Mexican students wishing to study abroad may be eligible for loans offered by FIDERH (Fund for Development of Human Resources), managed by the Central Bank of Mexico.