Postgraduate loans in Wales

In 2025/26, Welsh postgraduate funding is worth up to £19,255 through a repayable loan, which is more than in any other part of the UK

How much can I borrow?

Welsh postgraduate loans for the 2025/26 academic year are worth up to £19,255 for courses that start on or after 1 August 2025.

They can be used to contribute towards your:

• tuition fees
• study costs
• living expenses.

However, you don't have to borrow the maximum loan amount that's available to you.

For the full lowdown on Welsh postgraduate loans, see Student Finance Wales - Finance for postgraduate Masters students.

Am I eligible for a Welsh postgraduate loan?

You must:

• be a UK national or have settled status
• normally live in Wales
• have lived in the UK, Channel Islands or the Isle of Man for the past three years
• be under 60 years of age on the first day of the first academic year of your course
• not already hold a Masters degree or higher qualification.

If you're a European Union (EU) national, you're eligible if you:

• have normally lived in the UK, Gibraltar, the European Economic Area (EEA) or Switzerland for the past three years
• have pre-settled or settled status under the EU Settlement Scheme (EUSS)
• will be studying your postgraduate course at a university in Wales.

You may also be able to get a loan if you:

• are a refugee (or a relative of one)
• have been granted discretionary leave to remain in the UK
• are an EEA or Swiss migrant worker
• are the child of a Swiss national or Turkish worker.

If you can't get a Masters loan in Wales, consider other sources of postgraduate funding.

Is my course eligible for a loan?

Your course should be a full, standalone taught or research Masters degree worth a minimum of 180 credits, studied at a UK university or through distance learning.

Full-time courses should take one or two academic years to complete, while part-time courses can take two to four years.

The loan can only be used for full Masters courses, not to top up a lower-level qualification, such as a postgraduate diploma (PGDip) or certificate (PGCert), to a Masters.

For distance learning, you must be living in Wales on the first day of the first academic year of your course and in the UK for the whole of your course.

³§±ð±è²¹°ù²¹³Ù±ð Doctoral loans of up to £29,130 (2025/26) are available for PhDs in Wales. Read more about PhD loans.

Courses that qualify for undergraduate funding aren't eligible for postgraduate loans. These include:

• Initial Teacher Training (ITT) - explore routes into teaching
• integrated Masters degrees
• the Master of Architecture (MArch) - see how to become an architect.

You also can't get a postgraduate loan if you're eligible for NHS funding or a Social Work Bursary.

How do I apply for a student loan?

Apply for postgraduate funding in Wales at Student Finance Wales - Forms. You can only apply once for your entire course, not each academic year.

However, you can still apply before your place at university is confirmed and then change your course details later. You'll need to:

• complete the online form
• provide any evidence requested
• sign and return the declaration.

For this, you'll require:

• your passport details or birth certificate
• course information
• bank details
• National Insurance (NI) number.

Paper application forms are available from Student Finance Wales if you're unable to apply online.

When do I apply?

Applications are typically accepted from late June, but the deadline for applying is nine months after the first day of the last academic year of your postgraduate course.

In other words, it's possible to apply for a loan after your course has started.

How will I receive my loan?

Your loan will be paid directly into your bank account. You'll receive the money in three instalments throughout the academic year.

If you're studying for more than one year, the total will be spread evenly throughout your course.

For instance, if you've applied for the full amount of £19,255 (in 2025/26) and are studying for two years, you'll receive around £9,627 each year in three instalments of around £3,209 per term.

If your loan application is successful, you'll be sent a Notification of Entitlement from Student Finance Wales.

When do I start repaying my loan?

You'll start repaying your Welsh postgraduate loan in the April after your course finishes at a rate of 6% of any income you earn over £21,000 (£1,750 a month).

Interest will be charged on your loan from the date you receive the first instalment. This will be calculated at the retail price index (RPI) plus 3%, meaning that the interest accrued will be the annually reviewed RPI percentage, plus an additional 3%. In 2025/26, the interest rate currently stands at 7.8%.

For more information on making repayments, see GOV.UK - Repaying your student loan.

What happens to my loan payments if I leave my course early?

If you leave your course or switch to an ineligible course, you'll have to repay what you've borrowed so far. The income threshold won't apply - you must start repaying straight away.

What if I also have an undergraduate loan?

Under these circumstances, postgraduate loans will have to be repaid concurrently with your undergraduate student loan.

This means that you may have to repay up to 15% of your income over £21,000 - 9% for your undergraduate loan and 6% for your Masters loan.

When are Welsh postgraduate loans written off?

Any outstanding balance that remains 30 years after the April you were due to repay will be written off.

Find out more

• Search for postgraduate courses in Wales.
• Consider studying a professional qualification.
• Explore PhD study.