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  • FIRST POST
    • MSE Eesha
    • By MSE Eesha 8th Mar 16, 12:44 PM
    • 116Posts
    • 29Thanks
    MSE Eesha
    Postgraduate loans 2016/2017 starters
    • #1
    • 8th Mar 16, 12:44 PM
    Postgraduate loans 2016/2017 starters 8th Mar 16 at 12:44 PM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
    Last edited by MSE Eesha; 18-03-2016 at 3:48 PM.
Page 1
    • Ed-1
    • By Ed-1 10th Mar 16, 4:06 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    • #2
    • 10th Mar 16, 4:06 PM
    • #2
    • 10th Mar 16, 4:06 PM
    "- You must be under 60: If you're 60 or over on the day your course starts, you can't get the loan." It's actually on the first day of the academic year rather than first day of the course (so 1st September for most). See here: Applicants must be aged under 60 on the first day of the first academic year of the course.

    "So if you are starting this year, in 2016, and on a one-year course, you'll have an extra year before your repayments start." Of course, the disadvantage to this is the loan also wipes a year later than it otherwise would.

    "Therefore while the inflation rate starting in Sept 2016 is unconfirmed, it is almost certain to be 3% plus the previous March's RPI rate of 0.8%, so the amount you owe will grow by a total of 3.8%." The rate from Sept 2016 will be set using the RPI from March 2016 which isn't published until 12th April by ONS (in any case March 2015's RPI was 0.9% so no idea where the 0.8% figure came from).
    • Mshield
    • By Mshield 10th Mar 16, 5:04 PM
    • 1 Posts
    • 0 Thanks
    Mshield
    • #3
    • 10th Mar 16, 5:04 PM
    • #3
    • 10th Mar 16, 5:04 PM
    Where are welsh student finance at with regards to their "in the process of discussing a similar postgraduate loan scheme" talks? My permananent resident is North East Wales (a 30 second drive from the English border) so I am unable to obtain a loan, despite having been to University in England for 3 years and being Enlgish myself.

    If the the Welsh goverment are planning a similar move, would it realistically be in place for the 2016/17 academic year?

    - Matt
    • postsgradually
    • By postsgradually 11th Mar 16, 11:55 AM
    • 1 Posts
    • 0 Thanks
    postsgradually
    • #4
    • 11th Mar 16, 11:55 AM
    • #4
    • 11th Mar 16, 11:55 AM
    Hi Matt

    It's pretty unlikely, unfortunately. Neither of the Northern Irish or Scottish proposals will be ready in time for next year and they're a bit further on than Wales. We keep guides to other UK funding (including loans) up to date over at FindAMasters.com. Feel free to take a look, or get in touch with any more detailed questions.



    Cheers

    - Mark
    • AliceDhabi
    • By AliceDhabi 13th Mar 16, 6:03 PM
    • 1 Posts
    • 0 Thanks
    AliceDhabi
    • #5
    • 13th Mar 16, 6:03 PM
    Pgce
    • #5
    • 13th Mar 16, 6:03 PM
    Do you know if this would count with a PGCE instead of a masters?
    • Ed-1
    • By Ed-1 13th Mar 16, 7:11 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    • #6
    • 13th Mar 16, 7:11 PM
    • #6
    • 13th Mar 16, 7:11 PM
    Do you know if this would count with a PGCE instead of a masters?
    Originally posted by AliceDhabi
    PGCEs are eligible for the standard undergraduate loans so are combined with the balance from previous student loans with a single repayment of 9% of income over the plan 1/plan 2 threshold.
    • andrar
    • By andrar 21st Mar 16, 8:57 PM
    • 265 Posts
    • 1,271 Thanks
    andrar
    • #7
    • 21st Mar 16, 8:57 PM
    Loan or uni app first
    • #7
    • 21st Mar 16, 8:57 PM
    Great article, it's really cleared this up for me thanks! Just a quick question - do I apply to the uni for the masters course first or the student loans company? I've no idea!
    • MSE Eesha
    • By MSE Eesha 22nd Mar 16, 5:02 PM
    • 116 Posts
    • 29 Thanks
    MSE Eesha
    • #8
    • 22nd Mar 16, 5:02 PM
    • #8
    • 22nd Mar 16, 5:02 PM
    "- You must be under 60: If you're 60 or over on the day your course starts, you can't get the loan." It's actually on the first day of the academic year rather than first day of the course (so 1st September for most). See here: Applicants must be aged under 60 on the first day of the first academic year of the course.

    "So if you are starting this year, in 2016, and on a one-year course, you'll have an extra year before your repayments start." Of course, the disadvantage to this is the loan also wipes a year later than it otherwise would.

    "Therefore while the inflation rate starting in Sept 2016 is unconfirmed, it is almost certain to be 3% plus the previous March's RPI rate of 0.8%, so the amount you owe will grow by a total of 3.8%." The rate from Sept 2016 will be set using the RPI from March 2016 which isn't published until 12th April by ONS (in any case March 2015's RPI was 0.9% so no idea where the 0.8% figure came from).
    Originally posted by Ed-1
    Thanks for your comment Ed. We've taken this on board and amended the guide.

    Many thanks,

    MSE Eesha
    • Jonno99
    • By Jonno99 22nd Mar 16, 5:50 PM
    • 1 Posts
    • 0 Thanks
    Jonno99
    • #9
    • 22nd Mar 16, 5:50 PM
    Foreign post grad courses
    • #9
    • 22nd Mar 16, 5:50 PM
    Can my son in Holland get a loan for fees and maintenance for a 2-year course starting in Sep 16?
    • SLC1983
    • By SLC1983 23rd Mar 16, 9:06 AM
    • 1 Posts
    • 0 Thanks
    SLC1983
    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!
    • agrinnall
    • By agrinnall 23rd Mar 16, 10:44 AM
    • 21,971 Posts
    • 17,940 Thanks
    agrinnall
    Would this loan be available for all UK universities or just those in England?
    Originally posted by sud
    Read the article.
    • Emmalucy
    • By Emmalucy 23rd Mar 16, 11:15 AM
    • 1 Posts
    • 0 Thanks
    Emmalucy
    Can you get a masters loan if you have previously studied a PGCE?
    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
    • yummymummy79
    • By yummymummy79 23rd Mar 16, 5:20 PM
    • 475 Posts
    • 1,096 Thanks
    yummymummy79
    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-1
    • By Ed-1 23rd Mar 16, 5:49 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    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
    Originally posted by Emmalucy
    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.
    Originally posted by yummymummy79
    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.
    • wanderlustandcurious
    • By wanderlustandcurious 28th Mar 16, 4:30 PM
    • 1 Posts
    • 0 Thanks
    wanderlustandcurious
    Automatic Masters: Eligibility?
    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
    • londonlydia
    • By londonlydia 28th Mar 16, 11:45 PM
    • 411 Posts
    • 477 Thanks
    londonlydia
    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-1
    • By Ed-1 29th Mar 16, 12:42 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    similar to above, ^^, if you have an undergraduate masters course, can you still take advantage of this? I.e. an MSci, MEng, MPhys?

    Thanks
    Originally posted by londonlydia
    No you definitely can't with an integrated masters.
    • Ed-1
    • By Ed-1 29th Mar 16, 12:43 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    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
    Originally posted by wanderlustandcurious
    If the qualification will be converted into a level 7 one that you become ineligible for a PGL on ELQ rules.
    • thespeedhat
    • By thespeedhat 29th Mar 16, 4:27 PM
    • 1 Posts
    • 0 Thanks
    thespeedhat
    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!
    Originally posted by SLC1983
    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-1
    • By Ed-1 29th Mar 16, 5:48 PM
    • 2,506 Posts
    • 1,313 Thanks
    Ed-1
    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!
    Originally posted by thespeedhat
    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.
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