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Student loans for masters?

edited 30 November -1 at 1:00AM in Student Money Saving
3 replies 2.9K views
lyle1993lyle1993 Forumite
44 posts
Fifth Anniversary 10 Posts Combo Breaker
edited 30 November -1 at 1:00AM in Student Money Saving
Course I am looking at has tuition fees of £10,500; on student loans company website it says you are entitled to £10906.00 for masters courses. So that means then over the whole year I would have £406 as effectively a living costs loan? Making part time work absolutely essential?

Replies

  • CakeCrusaderCakeCrusader Forumite
    1.1K posts
    Yup, that's it. If you're studying at the same Uni where you did your degree they often have discounts, so you get to use more of your loan for your living costs, look at their bursaries too. Students can study part time, but you'll only receive 50% of the loan each year if you do this so you'll still have to work.
  • peterbakerpeterbaker
    3.1K posts
    ✭✭✭✭
    As an aside, don't forget that when you start paying it back, different rules apply to separate (second) graduate degrees like Masters if not an "all-in-one" four or five year degree instead of an undergraduate degree to start.

    You could ultimately be paying back 15%pa of part of your salary if you get a Bachelor degree first then do a Masters course.
  • bambinaUKbambinaUK Forumite
    257 posts
    Research which Universities offer Bursaries.
    My daughter successfully applied for one at Durham and it paid for 50% of her Masters tuition.
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