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Postgraduate loans 2016/2017 starters

edited 18 March 2016 at 4:48PM in Student Money Saving
86 replies 45.1K views
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Replies

  • Hi!
    I am currently studying a PGCE full time (meaning I currently recieve full student loan) half the course modules are at level 6 and half are at level 7. I am studying a masters next year - would I still be able to get a masters loan? I've had a look into it but can't really find an answer to it,
    thanks in advance :)
  • I was wondering about the PGCE thing too as I did one a few years ago (Level 6 only) but would love to do a masters in a different field.
    Little lady arrived 13/12/11
  • Ed-1Ed-1 Forumite
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    Emmalucy wrote: »
    Hi!
    I am currently studying a PGCE full time (meaning I currently recieve full student loan) half the course modules are at level 6 and half are at level 7. I am studying a masters next year - would I still be able to get a masters loan? I've had a look into it but can't really find an answer to it,
    thanks in advance :)
    I was wondering about the PGCE thing too as I did one a few years ago (Level 6 only) but would love to do a masters in a different field.

    If it was a Professional Graduate Certificate of Education at level 6 (rather than Postgraduate Certificate of Education at level 7) then you will definitely qualify for PGL as you don't hold an equivalent level qualification to a master's which is level 7.

    Strictly speaking, a PGCE at level 7 is an equivalent level qualification and so would make you ineligible for a master's loan on ELQ rules. However until the final regulations are laid we won't know for sure. For example this policy note is very vague on this:

    http://www.practitioners.slc.co.uk/media/6788/pgl-policy-summary.pdf

    It states "Lower level qualifications such as Postgraduate Diplomas or Postgraduate Certificates of Education will not affect eligibility for PGL."

    However most PGCEs are not lower level to a master's.
  • For those academic institutions that convert BA degrees into MAs after a set period of time post-graduation, would these students still be eligible for the postgraduate loan from SLC? These students effectively haven't studied a masters course, only a bachelors, but are given the masters title 6/7 years after being a undergraduate.

    Thanks
  • similar to above, ^^, if you have an undergraduate masters course, can you still take advantage of this? I.e. an MSci, MEng, MPhys?

    Thanks
  • Ed-1Ed-1 Forumite
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    similar to above, ^^, if you have an undergraduate masters course, can you still take advantage of this? I.e. an MSci, MEng, MPhys?

    Thanks

    No you definitely can't with an integrated masters.
  • Ed-1Ed-1 Forumite
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    For those academic institutions that convert BA degrees into MAs after a set period of time post-graduation, would these students still be eligible for the postgraduate loan from SLC? These students effectively haven't studied a masters course, only a bachelors, but are given the masters title 6/7 years after being a undergraduate.

    Thanks

    If the qualification will be converted into a level 7 one that you become ineligible for a PGL on ELQ rules.
  • SLC1983 wrote: »
    Hi guys, does anyone know if you are credit checked for the postgrad loan? The guide says the loan won't appear on your credit file, but I can't see if it specifically states whether you are credit checked for it or not. Thanks!

    This is exactly what I've been wondering too - I had assumed that, as with the vast majority of loans, credit score/financial history would be taken into account, but I've seen nothing in the many sources I've checked that confirms or refutes this.

    It's pretty important to know - I'm probably not the only former student whose financial history hasn't always been the rosiest, but whose finances are now stable and would like to move on to a Masters. Any help much appreciated!
  • Ed-1Ed-1 Forumite
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    This is exactly what I've been wondering too - I had assumed that, as with the vast majority of loans, credit score/financial history would be taken into account, but I've seen nothing in the many sources I've checked that confirms or refutes this.

    It's pretty important to know - I'm probably not the only former student whose financial history hasn't always been the rosiest, but whose finances are now stable and would like to move on to a Masters. Any help much appreciated!

    No SLC student loans are credit checked. Your financial history has nothing to do with ability to repay with these types of loans as repayments are taken directly from salary. If you're not earning, you don't need to repay.
  • Thanks all for the information being shared. I have read various articles about the proposed loan and it being eligible for residents "ordinarily" living in UK and for a term of 3 years prior. I want to apply for a Master's commencing 2016/17 and I am a citizen of England but have temporarily worked abroad for 2 years just prior to the course and can show evidence of this. What are my chances of still receiving and being eligible for the proposed loan ? Many thanks, R
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