Postgraduate loans
If you are starting your master’s degree in September 2024 or later, you may be able to apply for a postgraduate loan to support your study at Cardiff University.
Please note that all figures quoted below are those that were available for 2023/24 academic year. Updated figures for 2024/25 academic year will be provided as soon as they have been confirmed.
Postgraduate loans are separate to undergraduate funding and any undergraduate funding you previously received is not linked to your access to a postgraduate loan.
The postgraduate loan available to you will depend on where you are ordinarily resident before you start your course.
Please note, if you are a current undergraduate student in Wales and intend to progress immediately to a postgraduate course after graduation, you will need to apply to the funding body based on where you were living before you started your undergraduate course.
Please check the funding information for the country you are normally resident in:
I ordinarily live in Wales
If you ordinarily live in Wales and intend to start a Masters course in September 2024 then you can apply to Student Finance Wales for postgraduate funding.
What funding is available?
All eligible students who are ordinarily resident in Wales before starting their course, and who will be studying an eligible course, could receive a loan and grant up to a maximum of £18,770 to help meet the cost of tuition fees and general living costs.
The first £1,000 of this funding is available as a non-repayable, non-means tested grant. This means, irrespective of household income details, all eligible students will receive a grant of £1,000.
The remaining £17,770 will be available as either a loan or a combination of loan and grant, depending on household income details.
The following table demonstrates examples of the funding available from Student Finance Wales depending on household income.
Postgraduate Masters Funding from Student Finance Wales for a full-time course in 2023/24* | |||
Household Income | Grant Available | Loan Available | Total Funding Available |
£18,370 or less | £6,885 | £11,885 | £18,770 |
£25,000 | £5,930 | £12,840 | £18,770 |
£35,000 | £4,488 | £14,282 | £18,770 |
£45,000 | £3,047 | £15,723 | £18,770 |
£59,200 or more | £1,000 | £17,770 | £18,770 |
This funding is paid directly to students, normally in three instalments; one at the start of each term. The first instalment is normally released to you within 3-5 working days after you have completed enrolment and collected your ID card. Therefore it is important to arrive at the university with funding for at least two weeks available to you.
Unlike undergraduate funding, there is no specific tuition fee loan available and payment of tuition fees need to be made directly to the University.
*If you will be studying on an eligible part-time course then funding will be split across the academic years of your course. The maximum available for a part-time course started in September 2023 would still be £18,770.
Eligibility
Whether you can receive postgraduate funding from Student Finance Wales will depend on:
- your nationality and residency
- your course
- your university or college
- your age
- your previous study
- if you are receiving other funding, such as an NHS bursary or Social Work bursary
More details about the eligibility criteria can be found at Student Finance Wales.
Additional funding from Student Finance Wales
Depending on your personal circumstances there may be additional funding available to you via the Disabled Students Allowance if you have a disability or long-term health condition. Please visit Student Finance Wales for more information.
How to apply for funding
The application process for students who are ordinarily resident in Wales and who intend to start a course in September 2023 is expected to open in May/June 2023.
Additional funding from Cardiff University
Cost of living in Cardiff
Cardiff is considered to be one of the most affordable UK cities to live in while you study. See our living cost calculator for the average cost of living in Cardiff as a full-time, postgraduate student.
Repaying a postgraduate loan
If you take a postgraduate loan you become liable to repay this from April after you have left your course.
You’ll only start to make repayments when your income is over the repayment threshold. Currently, the repayment threshold for postgraduate loans is £21,000* per year. If your income falls below the repayment threshold, repayments will stop and only restart when your income is over the threshold again. You can also make additional voluntary repayments to the Student Loans Company at any time.
Postgraduate loan repayments are set at a rate of 6% of your income over the £21,000 per year threshold. Repayments will normally be deducted from your salary through the tax system.
Please see the table below for an indication of the monthly cost of repayments based on income:
Annual Income (before tax) | Approximate monthly repayment amount |
£20,000 | £0 – salary is below the threshold |
£25,000 | £20 |
£30,000 | £45 |
£35,000 | £70 |
£45,000 | £120 |
If you are repaying any undergraduate loans (tuition fee loan and/or maintenance loan), the postgraduate loan repayments will be taken in addition to undergraduate loan repayments. This means you could be repaying both your Undergraduate and Postgraduate loans simultaneously if you earn above the repayment threshold.
*22/23 Repayment threshold
Interest on Postgraduate Loan
You are charged interest on any loan taken from the time it is paid to you until it is paid back in full, or any balance is written off.
The interest rate on Postgraduate Loans is currently 6.5%.
The interest rate on Postgraduate Loans is usually the Retail Price Index plus 3%. However, the interest rate is currently capped until 28 February 2023 due to inflation. Interest rates on Postgraduate Loans will not go above 6.5% while the cap is in place.
You can find out more information about how postgraduate loans are repaid here.
I ordinarily live in England
If you ordinarily live in England and intend to start a Master's course in September 2024 then you can apply to Student Finance England for postgraduate funding.
What funding is available?
All eligible students who are ordinarily resident in England before starting their course and who will be studying an eligible course could receive a loan up to a maximum of £12,167, to help meet the cost of tuition fees and general living costs.
Access to the loan of £12,167 is not affected by household income.
This funding is paid directly to students, normally in three instalments; one at the start of each term. The first instalment is normally released to you within 3-5 working days after you have completed enrolment and collected your ID card. Therefore it is important to arrive at the university with funding for at least two weeks available to you.
Unlike undergraduate funding, there is no specific tuition fee loan available and payment of tuition fees need to be made directly to the University.
If you will be studying on an eligible part-time course then funding will be split across the academic years of your course. The maximum available for the part-time course started in September 2023 would still be £12,167.
Eligibility
Whether you can receive postgraduate funding from Student Finance England will depend on:
- your nationality and residency
- your course
- your university or college
- your age
- your previous study
- if you are receiving other funding, such as an NHS bursary or Social Work bursary
More details about the eligibility criteria can be found via Student Finance England.
Additional funding from Student Finance England
Depending on your personal circumstances there may be additional funding available to you via the Disabled Students Allowance if you have a disability or long-term health condition. Please visit Student Finance England for more information.
How to apply for funding
The application process for students who are ordinarily resident in England and who intend to start a course in September 2023 is expected to open in May/June 2023.
Additional funding from Cardiff University
Cost of living in Cardiff
Cardiff is considered to be one of the most affordable UK cities to live in while you study. See our living cost calculator for the average cost of living in Cardiff as a full-time, postgraduate student.
Repaying a postgraduate loan
If you take a postgraduate loan you become liable to repay this from April after you have left your course.
You’ll only start to make repayments when your income is over the repayment threshold. Currently the repayment threshold for postgraduate loans is £21,000* per year. If your income falls below the repayment threshold, repayments will stop and only restart when your income is over the threshold again. You can also make additional voluntary repayments to the Student Loans Company at any time.
Postgraduate loan repayments are set at a rate of 6% of your income over the £21,000 per year threshold. Repayments will normally be deducted from your salary through the tax system.
Please see the table below for an indication of the monthly cost of repayments based on income:
Annual Income (before tax) | Approximate monthly repayment amount |
£20,000 | £0 – salary is below the threshold |
£25,000 | £20 |
£30,000 | £45 |
£35,000 | £70 |
£45,000 | £120 |
If you are repaying any undergraduate loans (tuition fee loan and/or maintenance loan), the postgraduate loan repayments will be taken in addition to undergraduate loan repayments. This means you could be repaying both your Undergraduate and Postgraduate loans simultaneously if you earn above the repayment threshold.
*22/23 Repayment threshold
Interest on Postgraduate Loan
You are charged interest on any loan taken from the time it is paid to you until it is paid back in full, or any balance is written off.
The interest rate on Postgraduate Loans is currently 6.5%.
The interest rate on Postgraduate Loans is usually the Retail Price Index plus 3%. However, the interest rate is currently capped until 28 February 2023 due to inflation. Interest rates on Postgraduate Loans will not go above 6.5% while the cap is in place.
You can find out more information about how postgraduate loans are repaid here.
Postgraduate loans for Scottish residents
Information on how to apply is available on the Student Awards Agency Scotland website.
Postgraduate loans for Northern Ireland residents
Information on how to apply is available on the nidirect government services website.
Student Funding and Advice Team
- studentconnect@cardiff.ac.uk
- +44 (0)29 2251 8888
Scholarships available worth £3,000 each for UK students starting a master’s degree in September 2023.
